The artificial intelligence world is growing — and now, the University of New Brunswick is getting more involved.

The university has announced a new Research Institute in Data Science and Artificial Intelligence which will bring together faculty members from across disciplines at UNB to work collaboratively on AI and data science research.

The institute will also be working with the artificial intelligence centre at Université de Moncton.

Frank McKenna, former New Brunswick premier and benefactor for the McKenna Institute at UNB, said he started prodding the university two years ago about creating AI capability.

He said the academic portion of the AI work will take place within the research institute, and the McKenna Institute, which he said helped raise money for the new institute, will have the job of ensuring that it gets into the hands of business people across New Brunswick. 

“Literally every company now is going to be powered by AI. Generative AI is the most transformational technology we’ve seen, literally since the printing press,” he said.

“It means existing companies will be more efficient. It could be in an Irving sawmill, it could be on a production line at McCain Foods, it could be in a chocolate factory.”

When it comes to working with the business community, McKenna said that might look like students and professors working within businesses or doing webinars for businesses about the importance of AI.

McKenna said the success of this venture will be measured by how far they are able to take the academic research and introduce it into the business community.

Along with business benefits, McKenna also sees AI as an opportunity to advance “real life solutions,” like with health care. He believes AI is going to contribute to finding vaccines more quickly, making drug therapies more effective and increasing data to manage the health needs of individuals.

Will AI keep businesses competitive?

Erin Barrett is the CEO of Eigen Innovations, a Fredericton-based company that has helped manufacturers around the world implement AI technology.

She said when it comes to the future of AI, the next three to five years will likely see businesses challenged as competitive organizations within their market if they don’t figure out how to adopt AI technology into their practices.

“What used to be the exception now has become the rule,” she said.

McKenna also said he doesn’t believe businesses will be able to remain competitive without incorporating AI. He thinks AI technology will allow smaller regions like New Brunswick to compete with the rest of the world. 

“For good or for bad, we are living in a world now where AI is going to be part of our everyday functions,” he said.