This investment aims to support Ormuco's research and development and stimulate job creation in the software engineering sector. It is also planned to contribute to establishing the Canadian province of Quebec as a relevant and fertile ground for the future of innovative and real-time based technologies such as artificial intelligence (AI), 5G, machine learning and edge computing.
Founded in 2008, Ormuco is aiming to be a leader in the deployment of edge computing as the preferred solution for data processing. The company can enable the delivery of real-time solutions based on technologies such as AI and machine learning to businesses and users worldwide. The company serves industries across diverse sectors, including mining.
Despite the current talent shortage in technology, 85% of Ormuco's workforce is based in Quebec. Orlando Bayter, CEO of Ormuco, said: "Thanks to our government's trust and generosity, Ormuco has the opportunity to create jobs in edge computing software development, and by the same token, play a pivotal role in the creation of new career paths in the province."
He added: "We are honoured to contribute to this fantastic ecosystem the government is building to address the fast-growing demand for platforms that enable and foster innovative technologies. As edge computing is crucial to the development and processing of AI solutions, Ormuco will contribute to reinforcing Quebec's reputation as an innovative AI hub."
In 2013, when most of Ormuco's competitors in software technology were focusing on centralising data processing systems (known as cloud computing), the company embarked on a different path and developed a decentralised data processing system to provide real-time solutions to local and global businesses.
Working with established global technology such as Hewlett Packard Enterprise and ALSO Group, as well as with some of the world's largest telecommunication companies, Ormuco claimed that it has more edge computing solutions use cases than any other player in the industry.
As cloud computing is at a significant distance from the user, it is not possible to make real-time decisions. This is because the transfer of data from the device to the cloud is not immediate. The technology that solves this problem is edge computing. Its wide array of solutions overcome the physical challenges that cloud computing brings about, by offering an experience with significantly less latency (the time it takes to send information from point A to point B) and an increased capacity for transferring data at a higher speed.
Ormuco noted that one of the greatest transformations of the present era comes with machine learning, augmented or virtual reality, video games and the Internet of Things (IoT). This transformation will only be possible with coupled use of 5G mobile networks and edge computing.