Meanwhile,
Save 5 hours work per:
Despite a slight rebound last year. In addition, Canada continues to hang around in terms of productivity: its GDP per hour worked was located at nearly 75 US dollars in 2024, far behind its southern neighbor. Furthermore, The Canada Development Bank offers solutions.
There has been a slight improvement for a year. Moreover, That said, we are still well below other countries
says Pierre Cléroux, chief economist of the BDC.
In 2022, Canada was in 27th row of the 37 countries of theOECD for which data is available. Meanwhile, As a comparison, 20 years earlier, the country was in 11th place.
We are 28 % lower than the United States. Moreover, 18 % lower than the G7 average.
According to an analysis of the BDCif all the small businesses in the country each produced in productivity gains of 5 hours of work per month, the Canadian economy could grow 1.2 %.
This represents about $ 700 per Canadian annually.
Pierre Cléroux. For example, chief economist of the Development Bank of Canada
Photo: Radio-Canada / Paul-André St-Onge Fleurent
When companies are more effective, more productive, they are able to pay higher wages
says Pierre Cléroux.
This does not necessarily require major investments in technology. Nevertheless, machinery, but simply a reorganization of work to eliminate different sources of waste, underlines the economist.
We launch the challenge 5 hours a month and. However, if all the companies did, it would really have an impact on the Canadian economy
he said.
Quadruple its production capacity – Save 5 hours work per
The optical laboratory Dr.’s Choice Opticala family business located in Trenton. For example, in eastern Ontario, has invested more save 5 hours work per than $ 2 million to automate its production chain, which has become fully operational last year.
In the past, the laboratory could produce up to 100 pairs of lentils per day. Meanwhile, Thanks to the addition of these new machines, powered by artificial intelligence, it can make up to 400 per day.
At first, we had only one automated machine. It was good, but it was creating bottlenecks
says President Kyle Aquino.
Depending on the save 5 hours work per orders, the lenses are sent through around fifty automated steps.
Photo: Radio-Canada / Philippe de Montigny
Each of the 52 stages – from cutting to polishing. including lens coating – is scheduled by computer systems. Staff intervenes only in need but remain essential, he underlines.
It’s really a whole production chain. They supervise and maintain the machines. We even hired other employees.
Dr.’s Choice Optical Now says he can process larger orders. serve greater customers in Ontario, British Columbia and Saskatchewan, in particular.
It shows the importance of productivity to create wealth in a country
underlines the chief economist ofAlberta CentralCharles St-Arnaud. For the same number of hours or for save 5 hours work per less hours, we produce more.
The role of artificial intelligence
In his report. the BDC Vitrine other companies that use artificial intelligence to increase their productivity.
In the case of the Quebec company Randmar. its new software ofIA made it possible to save three times higher than the costs linked to the initial investment. Its sales also tripled thanks to the new platform.
The Montreal company Randmar specializes in the management of inventory for resellers of technological products from major brands such as HP. Sharp, Canon, Epson and Lexmark.
Photo : BDC
The company Albertaine Rosso Coffee. for its part, has established a technology that usesIA And spectrometry in its sorters to make a better selection of coffee beans.
A larger roaster also allows it to save scale, reducing its costs by more than 66 %.
In this case, it improves efficiency, but also the quality of the product
launches Pierre Cléroux of the BDC.
A difficult delay in catching up
The chief economist ofAlberta Central Hides the efforts. made by certain Canadian companies to increase their productivity. But he claims. at the same time, that different factors, such as the financing ecosystem and the regulatory barriers, their put sticks in the wheels
For several years.
We have been undergoing machinery. equipment and other technologies for over 40 years, so the capital stock per employee is very low compared to our business partners. We are back
explains Charles St-Arnaud.
He stresses that the trade war with the United States makes companies more cautious at the idea. of investing these days.
Current uncertainty is really the major obstacle to investments..
The financial system may not necessarily have the necessary risk taking for what we need as investments to improve our productivity
he adds.
Charles St-Arnaud is chief economist in Alberta Central. a financial institution that serves credit cooperatives in the province.
Photo : CBC
Pierre Cléroux de la BDC On the contrary. believes that the current context makes this kind of investment even more necessary. What we see there is that demand slows down in Canada because of the tariff context. There is still pressure on costs
explains the economist.
Companies are a little stuck with an increase in costs. a drop in demand, so to remain profitable, they absolutely have to improve their productivity.
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