Karsten Wenzlaff, Advisor
August 26th, 2025
Consultation | March 20, 2024

The Competition Bureau of Canada has launched a discussion paper and consultation on the topic of 'Artificial Intelligence (AI) and Competition' and its implications for competition within the Canadian market, from the foundational aspects of AI to its impact on market structures and practices. There are 3 sections to the consultation with some specific questions to respond to.
Download the 27 page PDF 2024 Discussion paper on 'AI and Competition'
This section contains AI's definitions and aims to establish a common understanding of AI from diverse perspectives including academia, industry, and governance. By identifying emerging technologies and those of particular significance to Canada, stakeholders can help shape a regulatory framework that is both forward-looking and tailored to the unique needs of the Canadian AI sector.
This section covers the markets involved in the production of AI products and services, including AI infrastructure, development, and deployment. It highlights the importance of vertical relationships and access to resources like data and computational power, which are essential for innovation and competition in AI markets.
Understanding the competitive dynamics and the role of vertical relationships in AI markets as potential barriers to entry or areas where competition may be stifled. These insights can guide the Bureau in promoting a competitive environment that encourages innovation and ensures fair access to essential resources.
Section 3 examines how AI may affect competition in the context of Canadian law. It explores AI's impact on mergers, monopolistic practices, cartels, and deceptive marketing practices. It also discusses the Bureau's role in working with policymakers to promote competition in AI markets.
By exploring how AI influences anti-competitive practices and identifying ways the Bureau can support a competitive AI market, stakeholders can contribute to developing policies that safeguard competition while fostering innovation.
This consultation represents a unique opportunity for stakeholders from all sectors to contribute to a critical discussion on the future of AI and competition in Canada. Your insights, experiences, and perspectives are invaluable in shaping policies that balance innovation with fair competition.
By providing insights into these areas, stakeholders can help ensure that Canada's approach to AI and competition is both informed and effective, promoting a market environment that benefits consumers, businesses, and the economy as a whole.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Report | March 15, 2024

Image: The Dubai Foundation, The Global 50, 2024
The Dubai Future Foundation has released its third report titled "The Global 50" providing a comprehensive exploration of the opportunities and challenges that lie ahead, aiming to inspire decision-makers, innovators, and communities worldwide.
The report envisions a future that is diverse and ever-changing, where global trends impact individuals and communities in myriad ways. It acknowledges the unpredictability of the next half-century, suggesting that while our concepts of growth, prosperity, and well-being may evolve, the fundamental human needs and motivations will remain constant. This vision encompasses a wide array of domains, including energy, health, governance, ecology, and more, highlighting the potential for universal access to energy, advancements in medical screening, and the emergence of digital and immersive realities.
The recent global pandemic has unveiled the critical importance of focusing on the future, demonstrating the remarkable capacity of human innovation to respond to crises.
Innovations such as the rapid development of vaccines and the adoption of new technologies for remote work and communication have shown that, despite unforeseen challenges, we are capable of creating solutions that not only address immediate problems but also pave the way for a better future.
The report outlines several strategies for decision-makers to harness the potential of these future opportunities:
Utilize the opportunities as a source of inspiration to identify new avenues for investment and value creation.
Employ these insights for foresight, considering what opportunities are worth exploring as perceptions of what matters most evolve.
Explore specific opportunities in depth to generate positive financial, environmental, and societal outcomes.
Acknowledge the complexities and risks associated with these opportunities to maintain global competitiveness.
Assess the impact of these opportunities on organizations and communities.
Develop tools to monitor people's experiences and perceptions of prosperity and well-being beyond economic indicators.
Identify necessary partnerships and resources to address future uncertainties and opportunities.
"The Global 50" report challenges us to think beyond the conventional, to envision a world where innovation and collaboration lead to a more prosperous, equitable, and sustainable future for all. Let all draw inspiration from "The Global 50" to envision and work towards a future that reflects our highest aspirations for growth, prosperity, and well-being.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Report | March 11, 2024

Image: Cover, 2024 Edelmen Trust Barometer (Canada Report)
The 2024 Edelman Trust Barometer sheds light on Canada's national trends that are shaping our society. This year's findings offer a fascinating glimpse into the public's perception of trust across various institutions and innovations. Let's dive into the key trends and what they mean for Canadians.
Globally, the Edelman Trust Barometer reveals a complex picture of trust amidst rapid technological advancements and societal changes. The report highlights a paradox: while innovation promises prosperity, it also exacerbates trust issues, leading to societal instability and political polarization. This global backdrop sets the stage for understanding Canada's unique position in the trust landscape.
In Canada, the Trust Barometer indicates a slight shift in public sentiment towards institutions and innovations. Here's what stands out:
The increased trust in businesses (57% trust level) presents an opportunity for the private sector to lead in addressing societal challenges and fostering innovation. However, the continued hesitation towards government (49% trust level) and media (51% trust level) emphasizes the need for these institutions to rebuild trust through transparency, engagement, and effective communication. For example, 81% of Canadians believe keeping innovations affordable is crucial for businesses to earn or keep their trust.
The mixed feelings towards innovation highlight a clear message:
Canadians are open to change but demand that it be managed responsibly.
The path forward involves a collective effort from all institutions to engage, listen, and respond to the public's concerns. By fostering an environment of transparency and accountability, Canada can harness the positive potential of innovations while maintaining the public's trust.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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AI | March 7, 2024

Image: Freepik
As artificial intelligence (AI) and machine learning (ML) technologies evolve, their energy consumption has skyrocketed, posing significant sustainability challenges. This trend, driven by the development of larger models and the quest for higher accuracy, raises concerns about the long-term viability of AI advancements. In the article from Peterson Institute for International Economics Industry leaders are sounding the alarm, urging a shift towards more energy-efficient practices to ensure the future of AI aligns with global energy capabilities and environmental goals.
Recent Google research on reducing AI's carbon footprint suggests four key practices aimed at minimizing the environmental impact of AI systems:
AI's vast energy use, driven by the development of larger models and the quest for higher accuracy, is on a collision course with the planet's environmental and energy sustainability goals. The tech industry, once celebrated for efficiency-driven innovations, now faces the challenge of reversing the "anti-efficiency" trend that prioritizes performance over environmental impact.
The environmental cost of AI's reliance on data centers, the intensive energy requirements for training large language models, and the increasing energy consumption for inference processes highlight the multifaceted nature of AI's carbon footprint. Moreover, the proliferation of smart edge devices threatens to exacerbate this issue, underscoring the need for comprehensive energy-efficient solutions across all facets of AI deployment.
Google's research points towards actionable strategies for reducing AI's environmental impact, including the adoption of sparse models, specialized processors, cloud-based data centers, and optimizing the location of these data centers to leverage cleaner energy sources. These recommendations offer a roadmap for the AI industry to mitigate its carbon emissions and align with global sustainability efforts.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Report | Feb 29, 2024

The Securities and Exchange Commission (SEC) significantly stepped up its enforcement actions concerning accounting and auditing in the fiscal year 2023, as detailed in a recent report by Cornerstone Research as pointed out by at The D&O Dairy This marked increase, particularly pronounced in the fiscal year's final quarter, highlights the SEC's reinforced efforts to ensure financial transparency and uphold regulatory standards. With a 22% rise in accounting and auditing enforcement actions.
The SEC's ramped-up enforcement actions in accounting and auditing during FY 2023 signal a clear directive towards enhanced financial accuracy and ethical auditing practices. For fintech executives, investors, and stakeholders, understanding and adapting to these regulatory dynamics is crucial for ensuring sustainable business practices and fostering a transparent financial environment.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Report | Feb 27, 2024

Image: Cover
Crowdfund Capital Advisors just opened up complimentary access to the "Investment Crowdfunding Trends 2024" report, a comprehensive analysis leveraging data up to December 31, 2023, offering invaluable insights into RegCF markets in the U.S., trends, and impact on the economy, business, and investors. The article below is a snapshot of living markets. Download the data-driven report to stay informed and learn the financing and investment opportunities in regulation crowdfunding markets to see if it's right for your portfolio or business.
Investment crowdfunding has emerged as a transformative force, redefining access to capital and igniting economic growth.
This "Investment Crowdfunding Trends 2024" is data-driven proof of the sector's resilience, potential, and transformative impact, offering significant alternative finance options for entrepreneurs, investors, and the broader economy. Through democratizing access to capital, fostering job creation, and stimulating economic growth, investment crowdfunding stands as a beacon of progress and opportunity. Stay tuned for an upcoming episode of Fintech Fridays podcast with Sherwood Neiss, Co-Founder of Crowdfund Capital Advisors.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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