Collision Conference took place in Toronto and showcased how AI is expected to shape the future of business and technology and the investment decisions of major funds moving forward
By Deborah Oliveira
One of the largest innovation events in the world, the Collision Conference brought together an audience consisting of CEOs from large and medium-sized tech companies, entrepreneurs, investors and leaders in the technology and innovation sector from around the world in Toronto, Canada, last June. The discussions during the event, also known as the “Technology Olympics”, centered around technological solutions in artificial intelligence (AI) and the role of investment funds in driving the most innovative projects.
This edition of Collision featured 20 thematic tracks, including debates on technological and consumer evolution, mobility and the future of transportation, business innovation, cryptocurrencies, financial evolution, sustainability and climate change, marketing and the future of work, among others.
Thierry Sébastien Battistini, head of International Expansion at SEMPRE IT, who attended the event, believes that in addition to the business and networking opportunity, the conference represented a chance to enhance knowledge about the role of AI in the future of business and technology. One of the most discussed topics during the thematic tracks was the significant investment capacity of major funds, which have substantial financial resources, but are cautious in carefully analyzing available options to make choices that ensure the best return on investments.
“Although they have a lot of cash on hand, funds are being careful about investing. The conversations concluded that we are experiencing another hype cycle, or innovation trend, and there is a lot of difficulty in analyzing AI technology in detail. Many investors who took to the stage shared that they have made wrong bets in the past and may even get it wrong again with artificial intelligence. But getting it wrong and getting it right is part of the process,” he clarifies. “And while everyone is wary of investing, it is also clear that a lot of resources will be invested in AI,” he adds.
Battistini also highlights the themes discussed in the MoneyConf track, which explored business models and contextualized the importance of digital migration for the financial sector, financial evolution and security, among other topics. One of the points discussed revolved around the speed of technological transformations and the current scenario of Fintechs, which have contributed to the emergence of a new generation of agile, technology-oriented startups. “The speakers were excellent, and the discussions included the participation of several women technology leaders, such as Marianna Tessel, Chief Technology Officer at Intuit, an example of planning and forward-thinking in the field of AI”, he comments.
According to Battistini, two other noteworthy presentations in the MoneyConf track were Eva Wong, co-founder & COO of Borrowell, and Liza Landsman, CEO of Stash. Eva presented the app that pioneered in Canada, allowing people to check their credit score and talked about open banking, its impacts on customers and how much this topic needs to grow in Canada. Liza, from Stash, talked about the team management model, diversity and financial inclusion.
Lastly, the executive pointed out that while there is talk of AI’s advancement, which is already revolutionizing the market, there is a significant workforce challenge. However, he highlighted
the announcement made by Canada’s Minister of Immigration, Sean Fraser, which was warmly received. According to him, among the five improvements announced were the startup visa (enhancement of the current visa) and the visa for digital nomads, allowing anyone to work in Canada for six months. If the person finds a company to work for and wants to stay in the country, the visa transformation is simplified. “These announcements were very significant because Canada needs to improve the existing conditions for retaining tech talent,” he said.
Battistini also emphasized the willingness of the executives present at the event to exchange ideas and experiences. “The event was very important to enhance networking between companies. I approached several C-levels executives in the corridors and they were very accessible. I think Collision is an incredible fair, because it is not monothematic and values transversal reflection and exchange among participants”, he stressed.
For those considering doing business with Canada, the executive advises to start with a good research on the existing opportunities in Canadian provinces, which may vary based on federal investment directions. He also recalled that the North American country offers good investment opportunities from the Canadian government’s investment funds. “It is a great opportunity for entrepreneurship because there are incentives offered by the federal government and the provinces, not just tax incentives,” he summarized.
