Communitech just announced a $1 million prize for an artificial intelligence competition, which will be presented at "True North."
Iain Klugman is the CEO of Communitech, and he said they felt honoured to host the competition with the help of the Schulich Foundation and Leaders Fund.
"It is the largest prize of its kind ever offered in Canada," said Klugman, "It's going to be anchored and driven right here, in Waterloo, Ontario, Canada."
"The Leaders Prize" is a competition focusing on using artificial intelligence for the good of mankind, challenging participants to solve some of the world's greatest problems.
Klugman said the competition is about more than winning the $1 million prize, it's about Canada's identity.
"We need to continue to always think big," said Klugman, "We, as Canadians, are the ones who are bringing the right values, the right perspectives, and the right abilities to solve these problems."
The challenge for participants will be laid out at True North 2019, then they will have one year to complete it with the winner being announced at True North 2020.
Other than that, the only condition for winning is that you need to be Canadian.
The goal of the competition is to provide a foundation for a new product or company that will have an edge in the marketplace.
"Canada has developed expertise in AI that could transform the way we live and work," said Charmaine Dean, Vice President, Research at the University of Waterloo, academic partner for the prize, "Waterloo understands how to ensure that expertise can turn into commercial success across multiple sectors of our economy. I am certain the Leaders Prize at True North will showcase the best of our talent and ideas."
Klugman said the event has two parts, the first being the competition and the second being a festival that will be open to the public.