cae investing c$1 billion over five years in innovation
August 8, 2018
CAE (NYSE:CAE) (TSX:CAE) will be investing C$1 billion over the next five years in innovation to stay at the forefront of the training industry. One of the main objectives of the investment is to fund Project Digital Intelligence, a digital transformation project to develop the next generation training solutions for aviation, defense & security and healthcare. In partnership with the Government of Canada and the Government of Québec, the project will allow CAE to continue to play a key role in making air travel safer, defense forces mission ready, and helping medical personnel save lives. Other benefits include reducing aviation’s environmental footprint and addressing the worldwide demand for aircrews. The Government of Canada and the Government of Québec will provide a combined investment of close to C$200 million over the next five years (C$150 million for Canada and C$47.5 million for Québec).
Executives and employees of CAE were joined by Canadian Prime Minister Justin Trudeau and Premier of Québec Philippe Couillard for the announcement which signals one of the most significant investments in innovation in the aviation training industry globally.
“As a powerhouse of innovation, CAE has been at the forefront of the training industry, including digital technology, for years. This strategic investment will take our company to the next level,” said Marc Parent, President and Chief Executive Officer of CAE. “By seizing new technologies such as artificial intelligence, big data, or augmented reality, as well as many others, and applying them to the science of learning, we will revolutionize the training experience of pilots, aircrews and healthcare professionals, as well as improve safety. We are committed to investing C$1 billion over the next five years to help position CAE, Québec and Canada as leaders in digital technology.”
Project Digital Intelligence will transform CAE’s products and services to leverage digital technologies, ranging from big data to artificial intelligence, cloud-computing, cybersecurity and augmented/virtual reality. CAE will develop its next-generation training technologies for aviation, defense & security, and healthcare, while making use of its extensive training network and data ecosystem. The project includes three major activity areas: advanced digital technology development, digital transformation of the training and user experience, as well as CAE innovation and collaboration facilities.