# BDC Launches Dual AI Initiatives to Boost SME Productivity New entrepreneur-led programs aim to streamline small business operations and internal banking processes. - **Source:** [BetaKit](https://betakit.com) - **Published:** 2026-11-02 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/0ac798a3-9b83-496f-ac7f-7886a9fe35b0 ## Strategic AI Expansion The Business Development Bank of Canada has launched two distinct initiatives, Mission AI and Studio AI, to accelerate artificial intelligence adoption. These programs aim to enhance productivity for small and medium-sized enterprises while simultaneously optimizing the bank's internal transaction processes. Both initiatives are led by experienced entrepreneurs to ensure practical, business-focused outcomes. ## Mission AI Objectives Spearheaded by Connect GO founder Dominic Gagnon, Mission AI focuses on identifying specific productivity gaps within small businesses. The team matches these enterprises with tailored Canadian AI solutions. A panel of entrepreneurs actively tests these tools to automate common challenges, such as invoice processing and quote generation, aiming to save valuable time. ## Studio AI Transformation Former Frank Oak CTO Raff Paquin leads Studio AI, drawing on his extensive background at Shopify and Lightspeed. The program aims to reinvent the entrepreneur experience when seeking financing and support from the bank. By automating internal workflows, the studio intends to provide greater visibility and predictability for clients throughout the entire funding process. ## Productivity Data Insights The launch follows a BDC study revealing that 30 percent of Canadian SMEs currently utilize generative AI. Data indicates that these adopters are 24 percent more productive than their non-adopting counterparts. These findings serve as the foundation for the bank's current strategy to bridge the technological maturity gap across the Canadian business landscape. ## LIFT Loan Integration Mission AI complements the bank's existing $500-million LIFT loan program, which was designed to assist 1,000 SMEs in adopting AI technologies. BDC estimates that if all Canadian SMEs reached the technological maturity level of the country's most advanced firms, national GDP could potentially increase by up to 14 percent over the coming years. ## Bank Portfolio Scale BDC maintains a significant financial footprint, managing a portfolio that includes approximately $30 million in debt investments and $1.74 billion in direct equity. With over 100,000 clients served in the last fiscal year, the bank expects to contribute $28 billion to Canada’s GDP over the next five years through these strategic operational improvements. ## Entrepreneurial Leadership Focus Dominic Gagnon emphasizes that entrepreneurs should not need to become AI experts to reap the benefits of new technology. By focusing on tangible outcomes like faster quoting and automated invoicing, the programs prioritize utility over complexity. This approach ensures that small business owners can integrate advanced tools without requiring deep technical expertise. ## Macroeconomic Impact Goals Raff Paquin aims to measure the success of Studio AI through its contribution to Canada’s macroeconomic figures. By reducing the time required for entrepreneurs to receive funding, the bank hopes to foster a more efficient business environment. The ultimate goal remains driving higher productivity levels across the entire small and medium-sized enterprise sector. ## Sources covering this story - https://betakit.com/bdc-launches-two-entrepreneur-led-ai-programs-to-make-small-businesses-and-itself-more-productive/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._