Considered one of the premier tech conferences in North America, Collision has been held in the city of Toronto since 2019. Over 2000 startups in the marketing and tech fields exhibited at the Enercare Centre in Toronto between June 17 and June 20.
With the impressive lineup of keynote speakers including the Godfather of AI Geoffrey Hinton, tennis star Maria Sharapova, OnlyFans CEO Keily Blair and venture capitalist Vinod Khosla, over 800 speakers spoke at the conference on groundbreaking ideas and trends, from social media marketing to health tech. Here are the key highlights of the conference.
The Growing Uses of AI
Many of the startups at Collision had a focus on Artificial Intelligence and its possible applications.
“In the past year AI has blown up in the consumer space,” said Aiden Gomez, the Toronto born CEO of language processing startup Cohere, whose speech opened the conference.
“POCs (Proof of Concepts) are starting to see results and enterprises love it.”
Many of these startups were focused on B2B products and services, such as copilot and assistant AIs for the workplace. AI has the potential to boost productivity as a part of the workforce’s toolkit.
Many industry insiders think innovative businesses will likely be the first early adopters, and the startups developing generative AI are looking to capitalize on this trend. These startups aim to establish themselves as leaders in the industry, leveraging their AI software and technical expertise to meet market demands.
#1 Startup name and introduction : ARKEO AI
A company that builds a bespoke Copilot AI to understand your company infrastructure.
#2 Startup name and introduction: Hoji AI
An AI that reviews the code of various software and websites to optimize performance and check for errors in the code.
Related posts:
– The Door That Cannot Be Closed: Warnings from AI Godfather Geoffrey Hinton
– Dreaming of an AI Utopia: Vinod Khosla at Collision
Subscription Services
Collision also exhibited a significant number of startups that were subscription services as opposed to one-time purchase models. The Software as a Service (SaaS) model has been a staple of tech companies since the early 2000s but has only recently taken off in the post-COVID era.
Startups and investors alike are interested in purchasing models that have a continuous revenue stream, and this was clearly on display at the event. A variety of the previously mentioned generative AI startups were using a SaaS payment model, as well as a variety of other software services in the healthtech, security and entertainment industries.
That being said, software was not the only type of subscription service showcased at the conference. There were various subscription services focusing on non-software offerings, such as car rentals or monthly coffee bean deliveries. This emphasizes the growing technology infrastructure that is allowing companies to offer diverse products and services using a subscription payment model.
#1 Startup name and introduction : Subskryb
A short-term car rental service, enabling customers to access car-sharing options by paying a recurring subscription fee.
#2 Startup name and introduction : The Roasters Pack
A subscription service that delivers three curated packs of coffee beans to customers every month.
Related post : Unveiling Innovation: Understanding the Hottest Business Trends at Collision 2024
Healthcare Technology
The final day of the conference had most of its presentations and panels dedicated to technology in healthcare. These included the increasing usage of AI in the healthcare sector, to new technologies in blood-testing and cancer detection.
To compliment the focus of the panels, most of the startups on the show floor on the final day also focused on healthcare. These included AI that analyzed proteins for predictive healthcare as well as virtual reality technologies to help train surgeons, doctors and other medical practitioners.
#1 Startup name and introduction : SurgicalVR Technologies
A VR simulation software to help people in medical professions to practice and learn medical procedures.
#2 Startup name and introduction : GourmetBot
A smart kitchen robot that uses an autonomous AI to cook personalized healthy meals for households.
An International Presence
Although there was a significant local presence at this year’s Collision there was an equally significant international presence at the conference. Booths were exhibited from across the globe, from South Korea to Italy.
Special mentions should go to the region of Taiwan, which had a large exhibit for their startups in the center of the conference, Qatar, which had a large booth targeted towards international investors and local development, as well as Poland, which had a large booth and sponsored a variety of panels for their startups throughout the conference.
Additionally, while South Korea did not have a large exhibit like Poland and Taiwan, a dedicated space for South Korean tech startups existed for all three days of the conference, sponsored by KOTRA (Korean Trade-Investment Promotion Agency) and Seoul AI Hub.
Thanks to the support of JETRO and the city of Yokohama, a handful of Japanese startups were able to have booths at the conference as well. Although the Japanese startups did not have a dedicated space like some of their counterparts, they were able to present their products and services in smaller venues across the conference.
In collaboration with DMZ, a Toronto-based startup incubator, a Japanese startup showcase was held in the DMZ booth, and in collaboration with the city of Brampton and the Canadian branch of Canon, a Japanese pitch competition was held. These smaller venues, in addition to the booths, provided Japanese startups with valuable exposure in the local and international press.
Related post: Japanese Startups Excel at Collision 2024
Conclusion
Although Collision will no longer be held in Toronto – the conference will be moving to Vancouver and rechristened “WebSummit Vancouver” – the event’s final year in Toronto was marked by impressive participation and groundbreaking innovations. Here are some of the key takeaways from the event:
- Generative AI continues to be a hot issue in the minds of tech enthusiasts and startups. It will likely see small-scale application in businesses, as copilots and assistants to enhance the work of employees.
- Subscription services will continue to trend upward, as startups and established businesses alike seek consistent revenue streams.
- A variety of advancements in the healthcare sector, including those in cancer research and blood-testing continue to be of public interest. AI will also be used to help enhance work in the medical field.
- There was significant participation from startups across the world at the event, including South Korea and Japan.
Although Vancouver is a significantly smaller city than Toronto, the city does have a growing tech scene and the attendance numbers will likely not suffer much. The Toronto finale will be remembered for its record-breaking 37,000 attendees, vibrant energy and diverse exhibitors, local and international.