MONTREAL, Dec. 4, 2024 /CNW/ - BDC, Canada's bank for entrepreneurs, today launched its Data to AI Program to demystify artificial intelligence (AI) for small and medium-sized businesses (SMEs) and enhance their productivity. This initiative highlights the transformative power of AI, the benefits of automation, and the critical importance of robust cybersecurity. The program provides solutions, tools, and advice to business owners aiming to thrive in the digital age. Through this program, BDC aims to help companies accelerate their growth and continue innovating in an evolving business landscape.

Empowering SMEs with AI

Many SMEs are unaware that they are already using AI. According to a recent BDC study, "The AI Imperative for Canada's Entrepreneurs," only 39% of companies surveyed believe they are using AI. However, 66% recognized AI tools when shown a list. Many seem unaware of the AI capabilities built into their existing tools.

The Data to AI Program offers a structured approach, providing training and personalized advice to guide companies on their digital journey. It includes the development of a detailed roadmap to modernize businesses and enhance productivity, outlining specific steps and milestones. This roadmap is supported by financing that can cover the full cost of integrating AI, cybersecurity, and automation.

"We believe that every small business needs and deserves the opportunity to benefit from the power of AI," said Véronique Dorval, Executive Vice President and COO, BDC. "Our tailored solutions provide the guidance and support needed to integrate these technologies seamlessly and securely into entrepreneurs' operations and help them increase their productivity."

BDC's Data to AI Program offers a comprehensive package of services including:

• AI Solutions: Guidance on understanding AI, the benefits of adopting it and a roadmap for implementation.
• Cybersecurity: Assessments and solutions to protect client information.
• Data Strategy: Customized roadmaps to streamline processes and drive growth.

The case of Vortex Aquatic Structures International (Pointe-Claire, QC) is a concrete example of how an investment in AI technology can pay off. With support from BDC, Vortex developed an AI-readiness roadmap, including a list of feasible projects, resources and suppliers. The company also developed plans for an internet scraping tool to obtain valuable investment information, and a customer service chatbot for post-sales support.

"BDC helped us understand AI's impact on our business, aiding in both short- and long-term planning," said Stephen Hamelin, President and CEO of Vortex. "Their approach was insightful, pragmatic and effective."

BDC's Data to AI Program aims to demystify AI for SMEs and boost productivity. According to BDC research, the strong majority of companies using AI report that it delivers increased efficiency, lower costs, higher sales, improved customer service and better management of sales, production or inventory.

Click here to learn more about BDC's Data to AI Program.

About BDC: 80 years as Canada's bank for entrepreneurs  

BDC is a partner of choice for all entrepreneurs looking to access the financing and advice they need to build their businesses and tackle the big challenges of our time. Our investment arm, BDC Capital, offers a wide range of risk capital solutions to help grow the most innovative firms. BDC's development role means we are in a state of perpetual evolution – wherever entrepreneurs go and whatever the Canadian economy needs – we will be there to help them defy the odds. 80 years later, that commitment remains very much alive. The financial value of BDC's services is estimated to add $23.6 billion in GDP to Canada's economy over the next five years. We are one of Canada's Top 100 Employers and Canada's Best Diversity Employers and the first financial institution in Canada to receive the B Corp certification in 2013. For more information on our products and services and to consult free tools, templates and articles, visit bdc.ca or join BDC on social media.  

SOURCE Business Development Bank of Canada