AI pioneers AXL and RSM Canada merge, aiming to speed up AI industry growth
In a strategic move to bolster Canada's digital economy, Toronto-based venture studio AXL has entered into a collaboration with RSM Canada. This partnership aims to accelerate the commercialization of Canadian artificial intelligence (AI) innovations and provide mid-sized companies with the tools they need to adopt AI technologies.
RSM Canada, a leading provider of accounting, tax, and consulting services, will serve as AXL's exclusive service provider. The collaboration will offer strategic guidance, compliance, and growth planning support to AXL and its portfolio of AI startups. In exchange, RSM gains preferred access to emerging AI technologies being developed and validated through AXL's applied research and commercialization pipeline.
The partnership also extends to AXL’s AI Catalyst program, a corporate partnership initiative that validates high-potential AI applications based on real market demand. By focusing on demand-driven, scalable, enterprise-ready AI solutions, the collaboration addresses Canada's "commercialization gap" despite its strong AI research leadership.
The need for practical, accessible AI solutions tailored to the middle market has been underscored. A recent UN report noted that fewer than half of top Canadian AI innovations are ever patented, and nearly 75% of those patents from leading institutions are acquired by foreign tech companies. The AI Catalyst program seeks to ensure Canadian-born innovations scale at home rather than being exported before their full value is realized.
Harry Blum, national managing partner at RSM Canada, stated that the partnership is about accelerating innovation, helping businesses move beyond legacy models, and positioning them to grow, compete, and thrive in a future-ready economy. Dr. Daniel Wigdor, co-founder and CEO of AXL, stated that the partnership is about executing on demand signals from the market and turning that into scalable, enterprise-ready solutions.
RSM's focus with its US$1 billion AI innovation commitment is on enabling AI adoption among mid-market businesses, addressing the challenge of limited AI adoption among mid-sized Canadian companies. The partnership aligns with RSM's goal of making AI more accessible to mid-market organizations lacking the scale or resources.
The partnership is designed to ensure that innovations transform into practical economic outcomes, bolstering Canada's digital economy and AI venture growth through industry feedback, talent development, and faster commercialization. This initiative comes as only 20% of mid-sized Canadian companies have adopted AI technologies, according to the OECD.
By addressing the challenges faced by mid-sized companies in adopting AI, this partnership could help ensure that Canada remains a leader in the digital economy, measured by the value it delivers to businesses, workers, and the broader economy.
[1] OECD: Fewer than 20% of mid-sized Canadian companies have adopted AI technologies. [2] RSM Canada commits US$1 billion globally to AI innovation. [3] Toronto-based venture studio AXL enters strategic collaboration with RSM Canada. [4] RSM Canada will serve as AXL's exclusive provider of accounting, tax, and consulting services. [5] The collaboration aims to accelerate the commercialization of Canadian artificial intelligence innovation. [6] Nearly 75% of AI patents from Canada's leading institutions are acquired by foreign tech companies. [7] Only 7% of AI patents from Canada's leading institutions stay in Canada. [8] The AI Catalyst program seeks to ensure Canadian-born innovations scale at home rather than being exported before their full value is realized. [9] RSM's focus with its US$1 billion AI innovation commitment is on enabling AI adoption among mid-market businesses. [10] RSM's partnership with AXL aligns with its goal of making AI more accessible to mid-market organizations lacking the scale or resources. [11] A recent UN report notes that fewer than half of top Canadian AI innovations are ever patented at all. [12] The need for practical, accessible AI solutions tailored to the middle market has been underscored. [13] The partnership extends to AXL’s AI Catalyst program, a corporate partnership initiative that validates high-potential AI applications based on real market demand. [14] The partnership between RSM and AXL aims to address the challenge of limited AI adoption among mid-sized Canadian companies. [15] Dr. Daniel Wigdor, co-founder and CEO of AXL, stated that the partnership is about executing on demand signals from the market and turning that into scalable, enterprise-ready solutions. [16] Harry Blum, national managing partner at RSM Canada, states that the partnership is about accelerating innovation, helping businesses move beyond legacy models, and positioning them to grow, compete, and thrive in a future-ready economy. [17] RSM's partnership with AXL aims to catalyse a new generation of AI-powered companies in Canada.
Technology and artificial intelligence are at the heart of this collaboration between Toronto-based venture studio AXL and RSM Canada. The partnership will offer strategic guidance, compliance, and growth planning support to AXL and its portfolio of AI startups, providing them with access to emerging AI technologies being developed and validated through AXL's applied research and commercialization pipeline. Furthermore, RSM will leverage these technologies, positioning itself to grow, compete, and thrive in a future-ready economy where artificial intelligence plays a significant role.
