Ongoing advances in artificial intelligence (AI), automation, digital tools and other cutting-edge technologies have given rise to new tensions across Calgary’s ever-evolving business landscape. From an agricultural and ranching hub in the early 1900s to a boomtown after the discovery of nearby oil in 1947, to a thriving metropolis with a diversified technology sector – Calgary has always shown great resilience and entrepreneurial spirit in the face of change. But the city now stands at the next crossroads, where the changes on the horizon have the potential to be more transformative than ever before.
To stay competitive in this new digital age, Calgary businesses must find a way to technologize roles traditionally held by humans while still investing in the human capital that has long fueled the local economy and embodies the enduring communal spirit of the pioneers who first shaped the frontier.
ATB Financial, a leading institution in Alberta, has already begun harnessing the power of AI to automate routine tasks and enhance decision-making. According to Daniel Semmens, senior VP and h of Data and AI at ATB Financial, “Technology, especially AI, has transformed ATB’s operations – from fraud detection to credit risk assessment, AI is helping ATB improve efficiency, accuracy and customer satisfaction.”
While there’s no denying that technology can reduce human error, speed up processes and cut operational costs, ATB believes that it should augment, not replace, human capital. “We are designing solutions that empower our team members to focus on higher-value activities that require empathy, creativity and complex problem-solving,” explains Semmens. “For instance, AI-powered chatbots can handle routine inquiries, freeing up our customer service representatives to provide more personalized support to clients facing challenging financial situations.”
AI’s influence is spreading into other industries as well. Calgary-based Benevity, a company providing software solutions for corporate social responsibility (CSR), is a prime example. Benevity enables companies to integrate charitable giving, employee engagement and community investment into their operations. Jane Moran, chief technology officer at Benevity, says, “We’ve barely scratched the surface for how AI can be leveraged in the social good sector.”
Indeed, 81 per cent of social impact leaders are concerned that underserved communities could be further disadvantaged by the mainstreaming of AI. Moran suggests that AI can play a crucial role in assessing the effectiveness of CSR initiatives, such as volunteering. This allows organizations to fine-tune their efforts and maximize social impact.
As technology continues to advance, not only companies, but human workers need to adapt. However, while 86 per cent of workers believe they need AI training to stay relevant, only 14 per cent are receiving that upskilling. This discrepancy highlights a growing skills gap in the workforce. It’s also why Benevity supports the creation of training guides focused on AI and data literacy.
Similarly, ATB’s AI strategy is centred around empowering their employees with technology. Semmens elaborates, “We’re investing in our team members to ensure they have the mindsets, skillsets and tools to thrive in an AI-powered workplace. At the same time, we encourage the honing of soft skills that AI can’t easily replicate: critical thinking, creative problem-solving, effective communication, emotional intelligence and leadership.”
Moran emphasizes, “No technology can replace the power of human creativity, perspectives and deep insight, especially in an industry such as ours where social impact is very much tied to human emotions and true care for others and their causes.” Despite this belief, AI-driven innovation is poised to alter almost every sphere of business.
Semmens points to a significant development earlier this year when “Google unveiled Gemini, an enterprise-grade generative AI model designed to seamlessly integrate into the Google Workspace tools we use every day.” This development offers the robust security and privacy required by ATB, which tools like ChatGPT lacked. Gemini assists users in creating complex formulas and summarizing lengthy documents; however, these advancements are not without challenges.
“The primary risk is potential bias and unintended consequences within AI algorithms,” Semmens cautions. “These biases can perpetuate existing inequalities or lead to discriminatory outcomes, undermining trust and harming individuals and communities.” To address this, ATB launched a pilot project with the federal government and the Responsible AI Institute. The project assesses their AI systems to ensure they meet the highest standards of ethical and responsible AI development.
The real challenge lies in finding the right balance between technology and human resources. This decision is not one-size-fits-all; it depends on the specific needs and goals of a given business, as well as the expectations of its customers. Jordan Pinkster, external relations and communications officer at Platform Calgary, says, “Platform has set a goal of supporting the development of 900 new tech companies with revenues of more than $5M per year, resulting in the creation of more than 20,000 new tech jobs by 2031.”
According to the 2023 Alberta Enterprise Deal Flow Report, Alberta is now home to 2,378 tech companies – a 157 per cent increase since 2012. Of these companies, 1,490 are based in Calgary, and 46 per cent are actively adopting AI and machine learning. Within Platform’s network of nearly 500 companies, several startups are employing AI. For example, Job Autopilot is a SaaS startup focused on resume optimization, while Sylvester.ai has developed a visual AI platform to help veterinarians understand the source of pain in cats.
These emerging technologies demonstrate how industries are evolving. Pinkster notes, “We work with the Alberta Machine Intelligence Institute (Amii) to use real-world examples that educate entrepreneurs on how they can leverage AI and machine-learning into their businesses. This includes using existing data sets to drive automations and insights.”
The benefits of technology are clear, but drawbacks to over-technologizing a business shouldn’t be understated. The most immediate concern is the potential loss of jobs. As more roles become automated, the demand for certain types of workers decreases. This issue is particularly troubling in a city like Calgary, where the economy is already under pressure from fluctuating oil prices and other external factors.
Moreover, an overreliance on technology can result in the erosion of human skills and expertise. For instance, if AI tools handle all accounting tasks, human accountants may lose their ability to perform these tasks manually. This could make them less versatile and adaptable in the face of technological failures or market changes. In fact, as AI increasingly assumes cognitive tasks, there is a genuine risk that human intellect could diminish across all industries.
The future of work in Calgary remains uncertain. However, what’s clear is that businesses must adopt a strategic approach. Those that can effectively integrate technology while maintaining the essential human element will be best positioned to thrive in the years ahead.
At ATB Financial, the strategy is well-defined. As Semmens asserts, “We recognize that our success is deeply connected to the well-being of the communities we serve. We are dedicated to fostering strong relationships with our clients and championing the growth and prosperity of Alberta. By prioritizing community, we believe we are building a sustainable and resilient business that benefits everyone.”
Ultimately, the debate between technology and human resources is about finding the right balance. In a dynamic city like Calgary, where change is a constant, this balanced approach will be the key to sustaining success – until AI is so ubiquitous that human work as we know it ceases to exist.
