Toronto stands as a key player in Canada’s financial landscape, hosting a robust insurance sector marked by major national and international firms. This hub of activity fosters a competitive setting ripe for insurtech startups, fueled by technological advances in AI
The AI Effect: Exploring the New Frontiers of Employment in Toronto
Automation’s impact on Toronto’s labor market is nuanced. Industries such as agriculture, manufacturing, and transportation, which traditionally employ a significant number of lower-skilled workers, are at a higher risk of job displacement due to AI and robotics. However, technology is also a net job creator, promising new roles that currently do not exist and altering existing jobs to work alongside AI, enhancing human labor rather than replacing it.