Calgary companies to lead $18.4 billion spend on digital transformation in Alberta through 2022

January 14, 2020
General Business New Economy Technology Talent
calgary+newsroom+Calgary companies to lead 18.4 billion spend on digital transformation in Alberta through 2022

In times where digital technology continues to impact every aspect of business, Calgary is leading the digitization of Canada’s industrial sectors.

Calgary companies will lead the $18.4 billion spend on digital transformation in Alberta through 2022. Digital transformation one of the largest drivers of new solutions and technology, with the spend representing a compound annual growth rate of 20 per cent.

The investment in digital transformation is necessary for Calgary companies to maintain a competitive edge in an increasingly digitally led economy.

While one-quarter of the total investment in digitization is accounted for by the energy industry, most of the spending will occur across multiple sectors including creative industries, manufacturing, logistics, financial services, life science and agribusiness. Adoption of digital technology will see the fastest growth in agriculture and manufacturing.

Calgary is also the first city in Canada to forecast the digital spend across its key industries in areas such as the Internet of Things (IoT), artificial intelligence (AI), next generation security, 3D printing, augmented/virtual reality (AR/VR) and robotics.

The city’s tech ecosystem is rapidly growing, and the digital transformation presents an opportunity for top talent in Calgary to be leaders in solving real-world challenges such as cleaner energy, safer food, better health and safer transportation of both people and goods.

The digital transformation forecast was released by Calgary Economic Development in 2019 and was developed in partnership with IDC Canada. Quantifying the spend for engines of growth and innovation ensures companies and top talent recognize the scope of opportunity available in harnessing digital transformation.

The companies and people that embrace change, adapt to our new reality and take advantage of new technology are the most likely to succeed in the new economy.

Innovation is one of the four pillars of Calgary in the New Economy, Calgary’s economic strategy.

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