CAE poised to revolutionize pilot, aircrew and healthcare professional training by investing C$1 billion over five years in i...
August 08 2018 - 02:38PM
CAE (NYSE:CAE) (TSX:CAE) today announced that it 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, defence & 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, defence 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, defence &
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.
CAE will carry out Project Digital Intelligence
in Canada, utilizing its R&D laboratories, as well as its test
and integration facilities. As part of the project, CAE will
develop an innovation campus in its Montréal site by transforming
its workspaces, laboratories and processes to allow for greater
innovation and collaboration. Throughout Project Digital
Intelligence, CAE will collaborate and codevelop technology
solutions with small and medium companies from across Canada and
will qualify more than 150 new innovative suppliers across the
country. CAE will also work with over 50 post-secondary
institutions and research centres. The project is expected to
create and maintain thousands of highly skilled jobs at CAE in
Canada and in CAE’s Canadian-based supply chain. CAE employs
approximately 4,000 people in 18 locations across Canada and more
than 5,000 in the rest of the world.
The government investments are subject to the
finalization of definitive agreements.
Quotes
“Today’s announcement is about creating
high-skilled jobs in Canada today, while making sure Canada’s next
generation of pilots, engineers, doctors, and nurses have access to
some of the most advanced simulation tools and training programs in
the world. With this funding, CAE will continue to raise the bar
for training standards, from the cockpit to the operating room, and
help drive the success of Canada’s aerospace industry.”- The Rt.
Hon. Justin Trudeau, Prime Minister of Canada
"CAE has today chosen to invest in the talent of
Quebeckers to help it ensure its continuation as a leader in its
sector. We have turned Québec into the best place to invest and
prosper by creating a climate of confidence for businesspeople. We
have made the know-how of Quebeckers into out greatest asset. Over
the past four years we have provided Québec with a genuine boost.
Through careful management of our public finances and the economy,
we have given ourselves the means to make our aerospace industry
more competitive, to speed up our shift to digital, to bolster
Montréal's expertise in artificial intelligence so as to make
Québec a go-to destination for innovation."- Philippe Couillard,
Premier of Québec
About CAECAE is a global leader
in training for the civil aviation, defence and security, and
healthcare markets. Backed by a record of more than 70 years of
industry firsts, we continue to help define global training
standards with our innovative virtual-to-live training solutions to
make flying safer, maintain defence force readiness and enhance
patient safety. We have the broadest global presence in the
industry, with over 9,000 employees, 160 sites and training
locations in over 35 countries. Each year, we train more than
120,000 civil and defence crewmembers and thousands of healthcare
professionals worldwide. www.cae.com
Follow us on Twitter @CAE_IncFacebook:
www.facebook.com/cae.inc/LinkedIn:
www.linkedin.com/company/cae/
CAE photos and B-roll are available for
download at www.cae.com/mediakit.Photos of the
event will be available at this link following the
event.
CAE contacts:
General Media:Hélène V. Gagnon,
Vice President, Public Affairs and Global
Communications,+1-514-340-5536, helene.v.gagnon@cae.com
Investor relations:Andrew
Arnovitz, Vice President, Strategy and Investor
Relations,+1-514-734-5760, andrew.arnovitz@cae.com
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