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Japanese auto supply giant Denso joins Montreal AI cluster with new R&D lab

News Summed Up 2019-01-10 05:30:00

MONTREAL - Japanese auto supply giant Denso Corp. is joining Montreal’s burgeoning artificial intelligence scene with the launch of a research and development lab in the city. Chief executive Koji Arima said Thursday that Montreal’s collaborative AI ecosystem attracted his company to the area as Denso makes a push to open R&D labs around the world. Federal Infrastructure Minister Francois-Philippe Champagne, left, Quebec Premier Francois Legault, and Montreal Mayor Valerie Plante speak to the media at a news conference Thursday, January 10, 2019 in Montreal. ( Ryan Remiorz / THE CANADIAN PRESS )Quebec premier Francois Legault, on hand for the downtown announcement, said AI will yield productivity gains across the globe and increase nominal GDP in Quebec by more than $4 billion annually. Montreal International, an economic development agency, says the industry attracted US$800 million in venture capital funding in 2017, more than any other Canadian city.