Deloitte has announced the 2019 winners of the Technology Fast 50, Companies-to-Watch, and Enterprise Fast 15 awards, and FlexPay is incredibly proud to be a Companies-to-Watch 2019 winner from Deloitte – one of only 3 in Quebec. Recognizing the world-class achievements of Canadian technology companies, the Technology Fast 50 program highlights commitment to innovation, leadership, and rapid revenue growth between 2015 and 2018. This year, the average three-year growth of the Fast 50 winners is 1,689 per cent.
Cited as the second biggest challenge among this year’s Fast 50 CEOs, 31 per cent of respondents believe technology advancements pose a significant hurdle to their business. On a positive note, there has been a 5-percentage point increase in those who reported using more artificial intelligence and cognitive technologies than they did a couple of years ago; it now stands at 65 per cent. Forty per cent of the Fast 50 companies surveyed believe the primary impact of their use of AI and cognitive technologies is that it allows their business to grow faster and be more flexible.
With more companies using AI and cognitive technologies, 78 per cent of respondents also noted that recent news coverage of the ethical use of data has influenced how they protect their data. The second greatest change in the wake of this coverage is how they collect data (57 per cent).
“With advancements in technology acting as a big concern for Fast 50 CEOs in 2019 and in previous years, we’re seeing these companies lean more and more into emerging technologies like AI,” said Anders McKenzie, managing partner of Deloitte Canada’s Technology, Media and Telecommunications (TMT) practice. “While AI can and will transform decision-making, drive efficiencies, improve customer experiences, and power sustained profitable growth, Fast 50 companies understand they need to embrace this technology and start adopting it in a more meaningful way to ensure future growth and success for their companies and our country.”