Artificial Intelligence is something that’s been steadily gaining traction in everyday conversations over the past few months. Chatbots, Internet of Things (IoT), Machine Learning, self-driving cars; we can’t stop reading about all of the innovations being unveiled by tech superstars, startups, and research institutes.

In the coming years
, experts agree that countries who lead in AI research and applications are expected to see their economic growth rates at least double. Fortunately for Canadians, the

Great White North is on the top of that list.

Because of its powerful academic research labs, Toronto has supplied a lot of talent in the field but has been experiencing a brain drain. As an effort to retain talent and make Toronto a global supplier of AI capability, the University of Toronto gathered a team of globally renowned researchers and founded the Vector Institute.

The independent, non-profit AI research institution has created a lot of buzz and attracted a great deal of funding to its ongoing projects. With a combination of research and commercial goals, according to The Toronto Star, It will be backed by more than $150 million in public and corporate funding. Ed Clarkchair of the Vector Institute board, wants Toronto, Ontario to be one of the core intellectual centers of artificial intelligence research in the world.”

But it doesn’t stop there. Google and Uber are also investing in their own Artificial Intelligence hubs: Google Brain Toronto, which is the second Google Brain satellite office based in Canada, and Toronto division of Uber’s Advanced Technologies GroupNeedless to say, even though Canada is considered a lead on the AI research, Toronto is quickly becoming the focal point and front-runner of the country’s resources.

There’s no doubt it’s a good time to be a Torontonian AI startup; the enriched technology ecosystem has provided startups with all the tools they need to shoot for the stars and become the next big thing”. But with all the opportunities and funding available, which are the most promising startups in the field? As a technology driven team, we got curious and dug into our top 10 most promising AI startups. 

Toronto AI Startup #1: META

AI platform for researchers.
(2010, $9.6M)
According to the team:
“Meta is a tool that helps researchers understand what is happening globally in science and shows them where science is headed. The Chan Zuckerberg Initiative has acquired Meta to help make this platform even more powerful, and bring its technologies to the entire scientific community. We are committed to offering our tools and features for free to all researchers.”

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Toronto AI Startup #2: CROWDCARE

Complete Customer Support Software for IoT devices.
(2012, $7.25M)

According to the team:
Crowdcare is an AI based Digital Care will revolutionize your customer care. It reduces contact volumes and increases NPS. Your customers can ask their questions using natural language and receive contextual and personalized answers from our AI solution.

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TORONTO AI STARTUP #3: CYCLICA

Predictive analytics platform for drug discovery and testing.
(2010,$5.0M)

According to the team:
Cyclica is focused on helping you navigate the drug discovery pipeline by assessing the safety and efficacy of drugs. Whether pre-clinical, clinical, or FDA approved, Cyclica can offer novel insight and analysis into your drugs’ effects using our in-house, drug-centric and structure-based bioinformatics platform.

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Toronto AI Startup #4: DEEP GENOMICS

Machine/deep learning technologies for precision medicine, genetic testing, diagnostic.
(2015, $5M)

According to the team:
Founded in 2015, Deep Genomics brings together world-leading expertise in machine learning and genome biology. We’re inventing a new generation of computational technologies that predict what will happen within a cell when DNA is altered by genetic variation, whether natural or therapeutic.

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Toronto AI Startup #5: IDEAL

AI-based candidate shortlisting platform.
(2014, $2.5M)

According to the team:
Ideal uses AI to automate tedious, time-consuming tasks including candidate sourcing and manual resume screening. Free up your team’s time for enjoyable, high-value work and increase recruiter efficiency 3.7x.

 

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TORONTO AI STARTUP #6: NABORLY

Artificial Intelligence based Tenant Screening platform.
(2014, $1.75M)

According to the team:
Most landlords know that it takes more than a basic credit report or background check to know who they’re renting to. Naborly goes beyond the basics and uses Artificial Intelligence to gather data and analyze not only the potential tenant, but the rental property, and the market in order to determine if there is a suitable fit and what risks a landlord may be exposed to. Within minutes we can accurately predict the risk of eviction, late rent payments, property damage, and more.

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TORONTO AI STARTUP #7: WINTERLIGHT LABS

Monitoring cognitive health by speech sample analysis.
(2015, $500K)

According to the team:
WinterLight Labs has developed a novel AI technology that can quickly and accurately quantify speech and language patterns to help detect and monitor cognitive and mental diseases.

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TORONTO AI STARTUP #8: RECEPTIVI

Language-psychology based text analysis.
(2014, $374K)

According to the team:
Understand anyone’s cognitive state, personality and emotions by analyzing their language. In real-time.

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TORONTO AI STARTUP #9: BEAGLE

AI using NLP for Contract Automation.
(2014, Undisclosed Seed)

According to the team:
Beagle reads your contract in seconds and highlights who the parties are, their responsibilities, their liabilities, how to get out of the contract and more. Your contract is displayed visually with easy-to-read graphs and charts. The clause table lets you search keywords, tag them, edit and organize them, and assign them to others on your team for review.

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TORONTO AI STARTUP #10: TIN EYE

Image recognition API, Developed by Idée.
(2008, Unfunded)

According to the team:
Color search and image recognition technologies are available for licensing. These technologies can be integrated to work with your own image collections or product photographs.

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YOU MIGHT ALSO LIKE:
Top 7 Well Funded Toronto Mobile Startups

 

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