MindBridge Ai

Mindbridge

Ottawa-based MindBridge Ai is transforming a growing number of industries by using artificial intelligence to analyze and identify risk across vast sums of business data. Its cloud-based Ai Auditor platform is used by accounting firms around the world, including over 40 of the US Top 100. The company was recently added to the Canadian Narwhal List as a fast-growing startup on its way to Unicorn status.

The company, named 2019 Alumni Employer of the Year by Algonquin College, is led by chief executive officer and serial entrepreneur Eli Fathi. Since graduating from the College in 1976 with a diploma in Electronics Engineering Technology, Fathi has founded the engineering consulting company Applied Silicon Inc. Canada (later Telexis and March Networks) and co-founded Fluidware, which was acquired by SurveyMonkey in 2014.

Fathi served as Chair of the Electronics Program Advisory Committee for eight years, and was a key organizer of the Corporate and Community Social Responsibility Conference held annually for five years at the College, a Premier’s Awards nominee in 2014 and 2016 Alumnus of the Year.

At MindBridge, he leads a growing team of over 100 employees, including several alumni of Algonquin College, across a variety of business, engineering, and sales disciplines. The MindBridge platform helps companies identify and understand anomalies across 100 per cent of their data using a combination of advanced AI and machine-learning techniques. These methods go beyond traditional rules to give organizations of any size access to never-before-seen insights and higher levels of risk assurance.

“We’re honoured to be recognized as the 2019 Alumni Employer of the Year as our successes are directly related to the talent we have here in Ottawa,” said Eli Fathi. “As artificial intelligence is poised to transform the way we live and work, it’s crucial for industry, applied studies, and research to work together. It will take all of us to elevate Canada’s leadership position in AI and ensure it is developed responsibly for all citizens.”

AI is widely considered the future of accounting. According to a June article in The CPA Journal, “CPA firms that embrace AI will likely continue to prosper, but those who do not may end up being left behind.”

Beyond accounting, MindBridge recently secured $29.6 million in venture capital financing and funding through the Government of Canada’s Strategic Innovation Fund (SIF). The SIF investment will be matched by a $125.5M pledge by MindBridge geared towards the development of a flexible AI technology platform that enables any business to leverage AI-based insights and analysis. This funding will create new jobs, including more co-op positions, and more collaboration with post-secondary institutions, greater investment in research and development, and more partnerships to support career opportunities in STEM fields.

Committed to developing AI responsibly, MindBridge hosts the annual IMPACT AI conference at the College, bringing together experts and the community to discuss the ethical, social, and economic impacts of the technology.