With time, the IT industry has revolutionized information accessibility, quality, and quantity, which helps efficient planning and decision-making. Information technology is that particular tool that has restructured and redefined societies.
Information technology has made it possible for everyone to stay connected and updated. The reason why the IT industry is growing at a rapid pace today is due to the ways it has transformed every sector.
The IT industry is not only growing but becoming more customer-centric. Experts believe that if the IT industry wants to demonstrate its value, it must focus on customer satisfaction. To do that, companies must make efficient use of data to take action accordingly.
Besides customers, information technology has also shaped job roles. For instance, the arrival of artificial intelligence has led to automated functions streamlining business operations.
Besides job roles, information technology has contributed to increasing productivity and reducing the risk of human errors.
Information technology plays a significant role in economic growth as it allows corporations to enhance customer service, ultimately generating more revenue and thus boosting economic growth.
Information technology has shaped every aspect of our lives, proving that it continues to become one of the fastest-growing industries. The statement is backed by data from Canada’s technology sector’s growth.
Canada’s technology sector has significantly grown in the last decade, making up 5% of the GDP. Canada’s capital, Ottawa, has been the center of attention for the previous decade for welcoming international companies to start IT-related operations.
It has a solid homegrown tech sector with over 43,200 companies making Canada a profitable option to start a business.
Companies like Bedrock IT have established quite a reputation for helping entrepreneurs, especially beginners, manage information cost-effectively.
Canada offers entrepreneurs an exceptional environment to expand their business with the help of innovations that are gradually shaping the future.
What are some ways the IT industry has grown in Canada? Let’s discuss it in detail.
Table of Contents
1. Artificial Intelligence
One of the prominent inventions of the IT industry is artificial intelligence, which has significantly shaped the way corporations run their operations.
In light of it, artificial intelligence has made a name for itself in the Canadian market with the federal government and huge companies investing in AI research and development. Enforcing the use of artificial intelligence has yielded numerous benefits.
Every organization has a chunk of data that must be processed and organized for efficient use. Along with managing t data, artificial intelligence ensures that the relevant information isn’t outdated.
Data analysis is mandatory in every organization to eliminate unnecessary information. The task is particularly time-consuming when done manually compared to tech-generated analysis.
Every enterprise’s goal is to enhance customer experience, which is significant to business growth. Implementing artificial intelligence in customer relationship management ensures that the customer receives the level of support they need.
2. Cybersecurity
Per Pitchbook’s data, Canada is the world’s sixth largest cybersecurity innovation hub worldwide and has taken significant steps to establish its importance.
Cybersecurity is critical in sustaining innovation and establishing trust in the data-driven world. It safeguards Canadian businesses and boosts their ability to thrive in the data-driven economy.
For business leaders, the need to seek competitive advantage comes in the form of Cybersecurity which, besides securing data, is also about risk management.
Millions of cyber threats are created annually, causing Canada to spend millions to ensure specific business operations aren’t compromised.
As a part of its new National Cyber security strategy, Canada has committed to spending $507M over five years.
Funding is also for the development of the Canadian Center for Cyber Security, which acts as the trusted national authority on matters regarding cyber threats or attacks.
The center’s purpose is to provide tools and resources to citizens and businesses while allowing collaboration between different governments to build cybersecurity-related strategies.
3. Software Development
Canada has abundant software development talent to the point that it accounted for 3.43% of the developers in the Annual Developer Survey 2020.
Besides access to the exceptional workplace pool, the operating software companies in Canada benefit from the strong market growth.
Canada isn’t on everyone’s mind regarding outsourcing software development projects, which is now changing.
Many might not know this, but Canada is the birthplace of the Java programming language and the artificial intelligence leader.
Several reasons contribute to why Canada is the best option when outsourcing software development projects.
Canada’s official language is English, and 80% are adept at conversing in it, making it convenient to pass along instructions. The IT sourcing model was designed to help enterprises reduce costs.
It still carries a lot of weight irrespective of how it is no longer the primary driver of offshoring.
It is interesting to note that when American companies with Canada, they enjoy favorable currency exchange rates. The development cost is low because the Canadian dollar trades lower than the American dollar.
Additionally, the software development talent is rising in Canada due to the government’s investment in STEM education which regularly produces STEM graduates, creating avenues for new tech talent hitting the job market every year.
4. Healthcare Innovation
Compared to other sectors, technology in the healthcare department has seen remarkable growth. These particular advancements have helped the healthcare system meet the growing and unique demands of the country’s diverse population.
Ever since the COVID-19 pandemic struck, the use of virtual healthcare has skyrocketed, indicating it is here to stay.
Virtual healthcare has also broken the language barrier with the launch of TELUS virtual healthcare, which provides access to care round the clock in English and French.
The particular care service also assists employees in checking their physical and emotional well-being.
In several parts of Canada, like Ontario, the virtual care service is integrated into the Health Report Manager, allowing more informed primary care to be provided based on the essential patient health information delivered seamlessly into one medical chart.
There is still a need for advanced technologies and improvement in the current systems to overcome the challenges like proper virus testing, especially in the wake of various emerging COVID-19 variants.
Conclusion
The IT industry has ensured that gathering, analyzing, and protecting crucial data is more convenient than in the old days. Information technology has dominated every sector, from healthcare to corporate.
As the IT industry has offered numerous solutions, several countries gradually understand the significance of information technology and make efficient use of it.
Canada is one of the few countries implementing different IT industry solutions to establish itself worldwide.
Healthcare innovation, Cybersecurity, and Artificial intelligence are a few examples of how the IT industry in Canada has grown and continues to do so.
