The rise of the Internet of Things (IoT) extends internet connectivity into physical devices and everyday objects, allowing them to be monitored and controlled over the internet, communicating real-time data without human interaction.
Now, in the age of artificial intelligence, IoT is getting smarter. Companies in Canada are using AI to uncover insights from data, increasing efficiency, minimizing downtime, managing risk and creating new products and services.
Ontario is the perfect location for the industry’s most exciting IoT companies to scale their business to success. The province has a reputation as a leader in industrial automation and IoT, with established firms such as ATS Automation Tooling Systems, Teledyne Dalsa and Prodomax.
It’s the birthplace of modern AI and home to North America’s fastest growing tech market – Toronto – and the most concentrated tech market – Ottawa. Plus, in Ontario you can find Silicon Valley’s second leading source of tech talent – the University of Waterloo. It’s this combination of game-changing technology and world-class talent that helps propel tech start-ups to new heights.
Here are ten of the most exciting IoT companies to watch in 2019.
This Kitchener-Waterloo based company started working with the University of Waterloo’s award-winning engineering R&D labs in 2012, conducting ground-breaking research into pattern recognition and anomaly detection. Today, their cloud-based software is being used by the automotive industry to analyze, predict and prevent system failures. It does this using machine learning to detect flaws in real time.
Toronto-based Canvass Analytics develops software that uses artificial intelligence and IoT to help businesses streamline complex manufacturing processes. The company’s predictive analytics platform ingests operational data and provides real-time diagnostic insights to optimize the production process, maintenance and energy management.
It was through working on shop floors that the founders of Ottawa-based Raven Telemetry came to realize their customers’ needs extend far beyond simple metrics such as ‘reports filled’ and other uninterpreted data. To meet these needs, Raven has assembled a team that combines former plant managers, PhD data scientists and software developers, working to transform manufacturing with artificial intelligence. The company’s data science devices can be connected to industrial machinery for collecting, analysing and interpreting data, uncovering insights and solving problems.
As artificial intelligence research continues to expand worldwide, Kitchener’s Terrene is building a platform technology with the aim of democratizing AI and machine learning. This platform allows anyone to train and deploy deep learning neural networks. The company is automating the process of building machine learning models so that a business analyst with no programming experience can quickly create their own system.
Since 2002, Oakville-based Shoplogix has been developing enterprise manufacturing intelligence (EMI) applications to assist manufacturers in reducing operational costs and increasing manufacturing profitability. The company’s computer program allows businesses to link every machine it owns and monitor their production. The management solution provides real-time visual reporting and analysis, identifying opportunities for improvement with actionable directives that help companies optimize their processes. The Canadian company has a large global presence with customers in thirty-two countries worldwide.