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Canada’s most undervalued resource:

The importance of capitalizing on the data economy

Over the past few decades, our world has become increasingly digital, fundamentally changing how people interact, and how businesses create products and provide services. This increasing digitalization has produced exponentially growing streams of data, which is continuously being collected, stored, processed, and shared.

This data is crucial for the Canadian economy, as it forms the foundation for AI and the development of new technology. With our country’s highly skilled and diverse workforce and unique industry experience, Deloitte believes that the nation can set a collective vision to support Canadians in building a world-leading data economy.

Canada’s most undervalued resource: The importance of capitalizing on the data economy explores what it will take for Canada—businesses, governments, and citizens alike—to become front-runners in the new economy, outlines the data opportunities for the country, and considers three possible future scenarios in which Canada can lead in the evolving data economy. The report concludes with recommendations on how to get there.



Imagining the Canadian data economy in 2030

For Canada to be a true leader in the future data economy, it must balance the priorities of three key pillars of society.

Be digital

Adopt a digital-first orientation

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While not required to start an AI journey, companies looking to scale AI deployment will have to pivot to become digital-first in their operations, as AI relies on well-managed data and digitized processes. Managing AI projects can look different from managing traditional technological implementations, due to the lack of clear paths to success. Businesses will need to get used to working in a much more agile way, with continuous iterations becoming the new norm.

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Citizens
Government
Businesses

Canada has an undeniable edge in the data economy. Our people, businesses, and democratic values can make us competitive among other global pioneers in the data race. The time to act is now—Canada’s digital potential is too big to waste.

Get in touch

Key contacts

Shelby Austin

Managing Partner, Omnia AI and Growth Investments

shaustin@deloitte.ca


Shelby Austin is the Managing Partner of Omnia AI and Growth Investments. Shelby helps businesses drive significant growth through innovation...

Bilal Khan

Managing Partner and Head of Deloitte Data

bikhan@deloitte.ca


In his role as Managing Partner and Head of Deloitte Data, Bilal is responsible for helping develop and execute Deloitte’s data and innovation agenda...

Robert Masse

Partner, Cyber Risk

rmasse@deloitte.ca


Robert Masse is a national partner in the Risk Advisory practice. With over 20 years of experience in cybersecurity, he’s built a reputation...

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