Québec, July 20, 2020 — OPTEL GROUP has obtained $5.4 million in financing from Scale AI, Canada’s artificial intelligence (AI) supercluster, to deploy an intelligent supply chain for metals and minerals. The project is part of a total investment of $16.6 million for OPTEL and its partners.
The initiative will enable the digitization of the metal and mineral value chain in order to secure supply chains and improve their performance. Among other benefits, the project will make it possible to measure the socioenvironmental impact of these value chains to maximize the Canadian industry’s competitive advantage while making better and more planet-friendly use of resources. The development of highly advanced AI algorithms will provide an essential tool for industry stakeholders to meet commercial and environmental requirements.
“An intelligent supply chain will allow Canada and its partners to optimize their commercial exchanges. In addition to providing commercial partners with information on the provenance of materials in circulation, the data will make it possible to put concrete measures in place to improve the sector’s environmental performance in relation to the circular economy, from extraction to utilization, as well as the recuperation of materials,” said Louis Roy, president and founder of OPTEL.
“This project illustrates the growing interest on the part of companies in increasingly diverse sectors to improve their performance through artificial intelligence. We are extremely proud that the success of previous projects supported by Scale AI, based on concrete results, has inspired other companies to innovate and invest in AI programs, as is the case with this OPTEL GROUP project,” said Julien Billot, Director General of Scale AI. “Drawing on several current and future pillars of Québec and Canada’s economy, this project is also a great example of collaboration between various players that will benefit the entire industry. It’s an innovative project that will use our best talents in artificial intelligence to improve the performance of industries that are strategic to our economy.”
About Scale AI
Canada’s artificial intelligence (AI) supercluster, Scale AI is a co-investment and innovation hub dedicated to accelerating the adoption and integration of AI and to contributing to the development of a world-class Canadian AI ecosystem. Financed by Government of Canada and the Government of Québec, Scale AI has more than 120 partners from industries and research institutes, as well as other AI stakeholders. From its headquarters in Montréal, Scale AI develops programs aimed at supporting private investment projects that implement concrete AI application, the emergence of future Canadian leaders in the AI sector, as well as the development of a qualified workforce.
About OPTEL GROUP
OPTEL is a leading global provider of traceability systems whose goal is to use its innovative technologies to create a better world through the Intelligent Supply Chain®. OPTEL is the only company with the ability to provide true end-to-end traceability, providing granular data at every step of the supply chain – from raw materials to the consumer and beyond. A certified B Corporation, OPTEL was founded in 1989 and is headquartered in Canada, with facilities in Ireland, India and Brazil, as well as employees around the world.