Canada Economic Development Provides Zetane with $100k to Accelerate the Commercialization of Cutting-Edge Software for Innovation in Artificial Intelligence
- Canada Economic Development Provides Zetane with $100k to Accelerate the Commercialization of Cutting-Edge Software for Innovation in Artificial Intelligence - August 31, 2020
- Government investments in the tech sector: how can we benefit? - June 29, 2020
- Lessons in Entrepreneurship from the Founders of Zetane - June 4, 2020
Press release: Government funding serves to support the company execute an unfettered release of its software on the global market.
[Montreal Canada, August 20 2020] Businesses will gain expedited access to bleeding-edge software for advanced applications of artificial intelligence (AI) thanks to a $100 000 investment from Canada Economic Development for Quebec Regions (CED; DEC in French). The recipient Montreal-region technology company, Zetane Systems, will invest an equivalent amount in order to commercialize their unique AI engine and development environment suite of digital tools for enterprise; the company’s software will now be broadly available for purchase starting August 28. To date, Zetane’s AI engine and development environment was available to a select few corporations, technology start-ups and research institutes. The economic fall-out from the current public health crisis motivated the company to request government support to execute an unfettered release of the software on the global market.
What used to be futuristic ideas from science-fiction, the pandemic requires many businesses to actually consider radical technologies like robot waiters and fully autonomous factories. Such innovations provide long-term solutions for businesses to remain in operation while complying with public health and safety regulations, as well as countering mass disruptions to mobility within the labour force. Central to many of these business-saving innovations is AI. Using Zetane’s software, entire industries can develop custom AI solutions faster, with more confidence, and implement them in their operations with greater ease.
Next-generation of software tools for AI applied in business and industry
Machine learning is a subspecialty of AI that recently transitioned from concepts in theoretical research to revolutionary products and services. Applied applications of machine-learning algorithms range from automated means to detect credit card fraud to predicting the need for maintenance of machinery before a mechanical failure occurs. However, many software tools used today for machine learning were designed by and for academia and do not translate well into the world of business and industry.
These digital tools were never designed to meet the needs of technology development within multi-stakeholder teams in business that include non-technical experts, such as product managers. Zetane’s AI engine & environment provides a revolutionary step forward by making the development of machine-learning solutions more visual, intuitive, and easier to explain to regulators and non-technical experts. Features of the software include more efficient methods to debug AI models, assess the quality of datasets, and streamline the development of prototypes and simulations that demonstrate the value of AI solutions to clients and decision-makers. Overall, professionals without advanced degrees in computer science can now better understand and contribute toward the development of business-specific applications of machine learning.
Supporting Canadian businesses with bringing innovations to market
Funding from the CED is from the Regional Economic Growth through Innovation (REGI) program that supports commercialization and marketing initiatives of promising Canadian companies. Multiple government programs provide support for research and development activities. REGI is one of a few highly competitive sources of funding that provide means for a company to scale commercialization initiatives and execute marketing plans geared towards global expansion and distribution of Canadian goods and services.
“Through the REGI program, CED selected our tech start-up to make a rapid, positive and global impact in technology during uncertain times. We are very grateful to CED for their confidence in the large market potential of Zetane and for giving us the means to market Canadian ingenuity on the international scene,”
exclaimed the CEO and co-founder of Zetane, Guillaume Hervé.
About Zetane Systems
Zetane Systems is a Montreal-region software technology company specializing in commercial applications of artificial intelligence (AI). Zetane’s AI development engine is proprietary software that provides a visual, intuitive and collaborative environment for businesses to build AI solutions and products based on machine learning models. The company aims to make the development of AI solutions more accessible to AI teams in businesses and promote abilities to explain the inner workings of complex neural networks to address “black box” concerns, increase stakeholder buy-in, reduce time to market and mitigate risks prior to deployment. In addition to selling powerful software, the company also provides a full suite of consulting services to facilitate the adoption of AI solutions in diverse industries.
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