Latest news with #CohereInc


Calgary Herald
26 minutes ago
- Business
- Calgary Herald
Ottawa teams up with startup Cohere to bring AI to the public sector
Article content The federal government is teaming up with Canadian artificial intelligence startup Cohere Inc. to broaden the use of AI in the public sector. Article content Ottawa and Cohere on Tuesday signed a memorandum of understanding that pledges to find ways to deploy the technology across the government. The non-binding agreement will also have the government and Cohere work together to 'build out Canada's commercial capabilities in using and exporting AI.' Article content Article content Article content 'By working with Canadian AI innovators like Cohere, we're laying the groundwork for a more efficient, effective and productive public service while helping ensure that Canada remains competitive in this new era,' Evan Solomon, Canada's AI and digital innovation minister, said in a statement. Article content Prime Minister Mark Carney has pledged to usher in the 'biggest transformation' of the Canadian economy since the end of the Second World War and to overhaul the public sector to make it more efficient and productive. Article content AI is seen as a key pillar to Ottawa's goals, though the government has released few details on how the technology will be deployed. Article content So far, Ottawa has said the Translation Bureau, which provides translation services for government agencies and is operated by Public Services and Procurement Canada, is developing the inaugural project under the national AI strategy for the public service that will let civil servants use AI tools trained with Canadian data. Article content Article content Canada was the first country to launch a national AI strategy in 2017. Since 2016, the government has committed more than $4.4 billion for AI and digital infrastructure initiatives. Article content Article content Toronto-based Cohere, which creates AI models for businesses rather than consumers, is trying to secure a foothold as the provider of choice for enterprises and governments worldwide. Article content Earlier this month, the startup officially launched its AI agent platform and is targeting businesses across North America, Asia-Pacific and Europe, the Middle East and Africa. In June, it announced a partnership with the United Kingdom that will let Keir Starmer's government use its AI tools to 'enhance government services and national sovereignty.' Article content


Cision Canada
7 hours ago
- Business
- Cision Canada
Canada partners with Cohere to accelerate world-leading artificial intelligence Français
Government of Canada signs memorandum of understanding with Cohere Inc. to help build Canada's AI ecosystem and internal AI services OTTAWA, ON, Aug. 19, 2025 /CNW/ - Artificial intelligence (AI) has the potential to significantly improve government operations and services for Canadians. The Government of Canada is seeking to harness the power of this transformative technology while building a vibrant made-in-Canada technology sector. Today, the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario, and the Honourable Joël Lightbound, Minister of Government Transformation, Public Works and Procurement, signed a memorandum of understanding (MOU) with Cohere Inc. to explore opportunities to deploy AI technologies across the Government of Canada to enhance operations within the public service and to build out Canada's commercial capabilities in using and exporting AI. The MOU with Cohere Inc.—a home-grown large–language model developer—reaffirms the government's commitment to support Canadian companies and capabilities. As the government seeks to harness the power of this transformative technology, it also aims to demonstrate Canada's global leadership in AI through its vibrant made-in-Canada digital ecosystem and innovative public services. The Government of Canada is promoting innovative research, supporting local talent and job creation, and establishing responsible AI standards on the international stage so that Canadian innovation can enhance the global AI ecosystem and reinforce Canada's economic and technological leadership worldwide. Quotes "There's no better place to leverage the innovative technology of artificial intelligence than here in our own backyard, and no better use than in the service of Canadians from coast to coast to coast. By working with Canadian AI innovators like Cohere, we're laying the groundwork for a more efficient, effective and productive public service while helping ensure that Canada remains competitive in this new digital era." – The Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario "This MOU with Cohere is an opportunity to explore how sovereign AI can strengthen public services, protect our digital sovereignty and create opportunities for Canadians. By engaging with home-grown innovators, we can better understand and harness the potential of these technologies, ensure they are developed and deployed responsibly, and help position the Government of Canada as a strong market for Canadian AI solutions." – The Honourable Joël Lightbound, Minister of Government Transformation, Public Works and Procurement "We're proud to deepen our partnership with the Canadian government, providing secure and sovereign AI solutions to transform public services. As a Canadian-headquartered company, we believe maintaining global AI leadership across public and private sectors is a national imperative. AI will supercharge economic productivity, fortify national security and future-proof Canada's competitiveness. That's why building this technology and developing the next generation of AI talent right here in Canada is essential." – Aidan Gomez, Chief Executive Officer, Cohere Inc. Quick facts Founded in 2019, Cohere Inc. is a Canadian multinational technology company focused on security-first enterprise AI. The company builds cutting-edge AI models and end-to-end products designed to solve real-world business problems. Cohere partners closely with leading global enterprises such as Oracle, Dell, RBC, Bell, Fujitsu, LG CNS, SAP and more. Canada was the first country in the world to introduce a national AI strategy. Since 2016, the Government of Canada has announced over $4.4 billion to support AI and digital research infrastructure, including $2.4 billion announced in Budget 2024 to scale up AI compute infrastructure, support AI adoption programs and launch an AI safety institute. The Government of Canada is supporting the responsible development and adoption of AI across the Canadian economy through a suite of measures, including the Pan-Canadian Artificial Intelligence Strategy and the launch of the Canadian AI Safety Institute. As part of this policy suite, the government has also launched the Voluntary Code of Conduct on the Responsible Development and Management of Advanced Generative AI Systems, the Implementation guide for managers of artificial intelligence systems and the Advisory Council on Artificial Intelligence. Associated links For easy access to government programs for businesses, download the Canada Business app. SOURCE Innovation, Science and Economic Development Canada
Yahoo
5 days ago
- Business
- Yahoo
Cohere hits US$6.8-billion valuation and snags Meta's former AI head
Canada's top-funded artificial intelligence startup has secured a US$500 million fundraise that boosts Cohere Inc.'s valuation to US$6.8 billion as it tries to become a mainstay in a heavily funded and increasingly competitive race to supply businesses and governments with AI services. The Toronto-headquartered company has also added a key figure to its AI personnel by hiring Meta Platforms Inc.'s former AI head Joelle Pineau as its chief AI officer. Pineau will lead the company's research and product development efforts from Montreal, where Cohere opened a new office last month – its second in Canada. 'We are at a pivotal moment in accelerating the delivery of secure AI that empowers enterprises worldwide, and we're excited to enter this new phase of expansion,' Cohere cofounder and chief executive Aidan Gomez said in a statement on Thursday. Cohere, which creates AI models for businesses, has rapidly scaled the ranks to become Canada's most valuable and most-funded AI startup since its founding in 2019. Its latest funding round was led by Toronto-based Radical Ventures Investments Inc. and Montreal-based Inovia Capital Inc., and included participation from existing investors such as chip behemoth Nvidia Corp., AMD Ventures, the venture capital arm of Advanced Micro Devices Inc., and the Healthcare of Ontario Pension Plan. Its valuation has shot up from US$5.5 billion since its last funding round in June 2024 and has soared 200 per cent since its June 2023 fundraising round. Though Cohere's size and business remain small compared to its Silicon Valley peers — the likes of OpenAI Inc. and Anthropic PBC, which are targeting valuations of US$300 billion and US$170 billion, respectively — it is hedging its bets on helping businesses and governments worldwide integrate its AI models and systems. For example, it teamed up in January with the Royal Bank of Canada, the country's biggest bank and most valuable company, to develop North for Banking, an AI platform for financial services. More recently, Cohere has announced a slew of private- and public-sector deals, in addition to new offices in Montreal and Seoul, South Korea. In early August, Cohere launched its AI agent service and is working with 'large enterprises across key markets in North America, APAC, and EMEA' to integrate the platform. Last month, the company struck an alliance with BCE Inc. to sell AI tools to Canadian organizations. From January to May 2025, Cohere doubled its annualized revenue to US$100 million thanks to a growing enterprise list, according to a Reuters story in May. Around 85 per cent of its business comes from private-sector deals with companies such as Dell Technologies Inc., Oracle Systems Corp., Fujitsu Ltd. and LG Corp. The company is also ramping up its public-sector push. It recently partnered with Canada and the United Kingdom to allow the two governments to use its AI tools to 'enhance government services and national sovereignty,' and teamed up with Second Front Systems Inc., a Virginia-based software firm, to deploy AI across the United States Department of Defense and allied government agencies. Cohere's recruitment of Pineau will augment its AI firepower. She's a well-known name in AI circles who served as the head of Meta's Fundamental AI Research (FAIR) labs across North America and Europe, where she developed new models and algorithms for games, conversational agents, robotics and more. She also serves as a core academic member of Mila, the Quebec Artificial Intelligence Institute, and as a computer science professor at McGill University. 'Cohere was incredibly appealing to me because they are implementing AI in ways that fundamentally are changing how businesses and governments operate,' she said in a statement. Cohere launches AI agent platform for businesses Canada's leading tech startup Cohere strikes alliance with BCE to sell AI tools On Thursday, Cohere also announced that it had hired Francois Chadwick, a former executive at Uber Technologies Inc., as its chief financial officer. • Email: ylau@ Sign in to access your portfolio


Calgary Herald
5 days ago
- Business
- Calgary Herald
Cohere hits US$6.8-billion valuation and snags Meta's former AI head
Canada's top-funded artificial intelligence startup has secured a US$500 million fundraise that boosts Cohere Inc. 's valuation to US$6.8 billion as it tries to become a mainstay in a heavily funded and increasingly competitive race to supply businesses and governments with AI services. Article content The Toronto-headquartered company has also added a key figure to its AI personnel by hiring Meta Platforms Inc. 's former AI head Joelle Pineau as its chief AI officer. Pineau will lead the company's research and product development efforts from Montreal, where Cohere opened a new office last month – its second in Canada. Article content Article content Its latest funding round was led by Toronto-based Radical Ventures Investments Inc. and Montreal-based Inovia Capital Inc., and included participation from existing investors such as chip behemoth Nvidia Corp., AMD Ventures, the venture capital arm of Advanced Micro Devices Inc., and the Healthcare of Ontario Pension Plan. Article content Its valuation has shot up from US$5.5 billion since its last funding round in June 2024 and has soared 200 per cent since its June 2023 fundraising round. Article content Article content Though Cohere's size and business remain small compared to its Silicon Valley peers — the likes of OpenAI Inc. and Anthropic PBC, which are targeting valuations of US$300 billion and US$170 billion, respectively — it is hedging its bets on helping businesses and governments worldwide integrate its AI models and systems. Article content Article content For example, it teamed up in January with the Royal Bank of Canada, the country's biggest bank and most valuable company, to develop North for Banking, an AI platform for financial services. Article content More recently, Cohere has announced a slew of private- and public-sector deals, in addition to new offices in Montreal and Seoul, South Korea. Article content In early August, Cohere launched its AI agent service and is working with 'large enterprises across key markets in North America, APAC, and EMEA' to integrate the platform. Last month, the company struck an alliance with BCE Inc. to sell AI tools to Canadian organizations.


Calgary Herald
03-07-2025
- Business
- Calgary Herald
Canadian AI darling Cohere to open Montreal office in rapid scale-up
Article content Canadian artificial intelligence darling Cohere Inc. will open its second Canadian office in Montreal in the latest sign of the rapid scale-up. Article content 'Canada has been at the centre of AI breakthroughs over the past decades, with Montreal's research leadership playing a pivotal role,' chief executive and co-founder Aiden Gomez said in a statement Thursday. 'This represents an excellent opportunity for Cohere to grow our Canadian talent base and strengthen our relationships with the Montreal, Quebec and Canadian governments, and businesses throughout the region.' Article content Article content Article content Cohere's Montreal office will employ seven staff, but the company aims to triple that number within a year. Cohere, which builds AI models for other businesses, was recently valued at more than US$5.5 billion and employs 400 workers globally, with the bulk of its staff in Canada. It has offices in Toronto, San Francisco, New York and London, England. Article content Article content The company has long-standing ties with Montreal: in 2022, Cohere inked a research partnership with Mila, one of Canada's three national AI institutes, and the organization's network of over 1,300 researchers, startups, professors and students, to develop new use cases for its platform. Article content Cohere also has two Quebec-based investors: Inovia Capital, Inc., which led its US$270 million Series C round in 2023, and the Public Sector Investment Board, or PSP Investments, a crown corporation and pension fund manager. Article content Article content As Canada continues its trade talks with the United States, Cohere's co-founders have been outspoken about the company's Canadian identity and have encouraged Canadian startups and founders to remain in the country and to hire domestically. Cohere is one of Canada's biggest startups and among world's most valuable private AI firms. Article content Article content 'We need to take an active nationalistic stance to build for Canada,' Gomez said last month at a Toronto Tech Week event. Article content At the same time, Cohere has quickly built up its business by serving customers in the U.S. The company has scored contracts with major U.S. tech firms such as Oracle Corp. and Dell Technologies Inc. Article content Last month, Cohere announced a partnership with Virginia-based software firm Second Front Systems to provide AI solutions for the government in areas such as national security. Article content Cohere will also be the biggest buyer of AI computing power from New Jersey-based cloud computing firm CoreWeave Inc., which is set to open a new $725 million data centre in Canada this year. Cohere will receive $240 million in federal funding for the deal under Ottawa's $2 billion sovereign AI strategy.