IT services firm Tech Mahindra today outlined plans to invest 100 million Canadian dollars in the next five years to establish a centre of excellence in Canada for technologies like artificial intelligence (AI) and blockchain.
"An investment of CAD 100 million dollars (about Rs 510 crore) is planned over next 5 years to establish a new 'Center of Excellence' (COE) in Canada," a Tech Mahindra statement said.
The 'strategic initiative' will focus on technologies such as AI and Blockchain, that are driving innovation across industries. It is aimed at catering to the growing need for AI and Blockchain applications especially in the Fintech and Smart City segment.
"It will pave the way for Canadians and Indians to access cutting-edge technology, while creating a niche talent pool and job opportunities in next-gen technology areas," the statement added.
The announcement coincides with the ongoing visit of Canadian Prime Minister Justin Trudeau to India. Both the countries are holding extensive talks on key issues of counter-terrorism and extremism, and to promote trade ties.
The statement by Tech Mahindra said that Canada was a natural choice for the centre given its innovation culture and skilled talent pool.
"Tech Mahindra's expanded Canadian presence will help foster stronger connections with the Canadian innovation ecosystem, both in the business community and in academia," the statement added.
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