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automobile du Québec (SAAQ), Quebec’s driver licensing agency, once hoped to track driver habits. However, faced with opposition from wary drivers who feared their data would be shared with a government body, SAAQ reversed its plans. “We concluded there wouldn’t be enough participants,” says SAAQ spokesperson Gino Desrosiers.


For better or worse Finance and insurance are not the only industries capitalizing on the exponential growth of algorithmic power. PricewaterhouseCoopers developed a data analysis tool that uses algorithms and statistical soſtware to monitor struggling businesses over a period of 20 years or more. The data, com- bined with sector-specific information, can be used to identify trends and prepare forecasts. “The growth — and even survival — of many businesses depends on their ability to optimize their equipment and infra- structure,” says Ramy Sedra, partner and data and analytics consulting leader at PwC Canada. “Algorithms can play a key role in improving their business processes.” In the era of big data, companies now have a considerable volume of real-time data at their disposal. Sedra points out that Amazon and Alibaba, two e-commerce giants, revolutionized the retail


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industry by using algorithms to determine their customers’ pur- chasing habits and recommend more products to them. With industry 4.0 — also referred to as the fourth industrial


revolution — now upon us, algorithms have even made their way into the manufacturing sector. These days, digital technolo- gies allow manufacturers to create smart factories by bringing together the internet, wireless sensors, soſtware and other cut- ting-edge technologies to optimize production or even manage it remotely. According to a 2017 BDC study, companies that were “early adopters of digital technologies have increased their pro- ductivity, reduced costs and improved the quality of their prod- ucts.” The study also reports that adopters of digital technology are almost twice as likely as nonadopters to forecast annual revenue growth of 10% or more over the next three years. So is industry 4.0 and its use of algorithms threatening jobs? “Historically, industrial jobs have always been automated and replaced, mainly to address labour shortages,” says Tapp, who points out that some office jobs are just as much at risk. “In the past, you would go to a travel agent to plan a vacation. Now, algo- rithms will book your flight and accommodations,” he says. The financial industry is experiencing the same phenomenon, although Girard thinks financial advisers and portfolio manag- ers will always have a role to play. “The added value of an adviser


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