The Future Economy Spotlight: Finding the Future With Artificial Intelligence

Joe Ritacca, Director of Research and Development at Precise ParkLink, was recently featured as a Spotlight interviewee on The Future Economy’s “How to Drive SMEs’ AI Adoption” segment. 

During the segment, Ritacca was accompanied by artificial intelligence (AI) leaders: Claudia Krywiak, President and CEO of Ontario Centres of Excellence, Jodie Wallis, Managing Director of Artificial Intelligence of Accenture and Ali Hirji, Project Manager at Durham College’s AI Hub. 

Canada is a recognized global leader in AI. However, the adoption of AI technology by small and medium enterprises (SMEs) fails to match the strides of AI research in Canada.

Highlighting the importance of AI integrations for Canada’s SMEs, Ritacca contributed AI thought leadership to the Spotlight segment. When adopting AI solutions, organizations are required to commit to the long term because results aren’t generated overnight.

“Implementing AI as a business solution is not a short-term endeavour,” said Ritacca. “Precise ParkLink’s philosophy is to invest in what we can do today that will help us in years to come.” 

Ritacca also spoke about the value of collaborating with academic institutions. When partnering with doing so, all stakeholders benefit: the school, the students, and the enterprise. 

“Canada must produce more AI-focussed students,” he said. “Academic institutions benefit from collaborating with businesses by learning what it is they should be teaching their students in order for them to work with and appeal to current industry needs and interests.”

Ritacca then touched on the critical role the Canadian government plays in facilitating SMEs’ adoption of AI technology.

“The government needs to concentrate on the connectivity of cities through data lines and better infrastructure,” he said.

Precise ParkLink has seen firsthand how automated parking operations drastically enhance the customer experience. We’re big believers in bridging the gap between parking technology and parking management services. In fact, 98% of Precise ParkLink’s transactions are successfully managed by technology, and AI is beginning to play a key role in this. 

Listen or read the The Future Economy Spotlight on AI for SMEs.