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Canadian organizations turning to agentic AI, KPMG poll shows

Canadian organizations turning to agentic AI, KPMG poll shows

Globe and Mail10-04-2025
More than half plan to invest in agentic AI in the next six months, survey reveals
TORONTO , April 10, 2025 /CNW/ - While most Canadian organizations have adopted generative AI tools to help improve business processes, many are shifting their focus to agentic artificial intelligence to accelerate those gains, envisioning a future where AI agents work alongside employees to transform their business unlike any other technology. "Agentic AI is revolutionary and will bring forth the next industrial revolution and completely change what we thought was possible for business and human life" - survey respondent
A new KPMG in Canada survey of 252 business leaders shows most are planning near-term investments in agentic AI to gain a competitive edge, revolutionize operations, lower costs, increase efficiency and fill critical skills gaps.
Agentic AI systems can operate independently by using tools such as large language models to make decisions and perform tasks with minimal or no human intervention. AI agents can perform a variety of tasks independently, such as responding to customer inquiries, placing and tracking orders, building lead generation lists, and managing refunds.
Just over one quarter ( 27 per cent ) of survey respondents have already deployed agentic AI in their organization, and nearly two-thirds ( 64 per cent ) are either exploring use cases, actively experimenting with the technology or conducting pilot projects. More than half ( 57 per cent ) plan to invest in or adopt agentic AI in the next six months, and 34 per cent within the next 12 months.
"Agentic AI is a nascent technology, but it's the most transformative AI we've ever seen in human history to date. We are already seeing humans work alongside agents as organizations use the technology to fill critical skills gaps, boost productivity and efficiency. Using AI agents for repetitive tasks allows an organization to re-focus their workforce on the more critical work, such as strategy and innovation," says Stephanie Terrill , Canadian Managing Partner for Digital and Transformation at KPMG in Canada .
"Almost nine in 10 Canadian business leaders see agentic AI as a top investment priority that will help their organizations gain a competitive edge – that's a strong sign that this technology will fundamentally change the business landscape in Canada ," she adds.
Almost three quarters ( 72 per cent ) of respondents said they were "very familiar" with the concept of agentic AI, but only two thirds ( 66 per cent ) were "very familiar" with how the technology could be applied in their organization or industry.
"There's a knowledge gap between business leaders' understanding of agentic AI and how they can use it to their advantage. Awareness, education and real-life experimentation can help close that gap," Ms. Terrill says. "We expect awareness of agentic AI to grow rapidly in the months ahead, and more Canadian organizations will continue to experiment with and invest in the technology – perhaps even more so than generative AI."
Key survey highlights 27 per cent said their organizations have adopted or deployed agentic AI and have active use cases in their organization 35 per cent are actively experimenting with agentic AI and have pilot projects and test use cases 29 per cent are currently exploring agentic AI and potential use cases 8 per cent hope to plan or explore/experiment uses cases with agentic AI Only 1 per cent are not exploring agentic AI and don't have any plans to
said their organizations have adopted or deployed agentic AI and have active use cases in their organization 57 per cent plan to invest in or adopt agentic AI in the next six months 34 per cent within the next 12 months 6 per cent within the next 2 years
plan to invest in or adopt agentic AI in the next six months 72 per cent said they were very familiar with the concept of agentic AI and 25 per cent were somewhat familiar
said they were very familiar with the concept of agentic AI and were somewhat familiar 66 per cent said they were very familiar with agentic AI's potential applications in their organization or industry and 31 per cent were somewhat familiar
said they were very familiar with agentic AI's potential applications in their organization or industry and were somewhat familiar 88 per cent agreed adopting agentic AI will help my organization be more competitive, with 58 per cent agreeing strongly
agreed adopting agentic AI will help my organization be more competitive, with agreeing strongly 86 per cent said agentic AI is a top investment priority for their organization
Putting agentic AI to work
Respondents said they plan to deploy agentic AI in their organizations to improve efficiency in a number of areas, including customer service, cybersecurity, compliance and regulatory management, communications and accounting.
"With generative AI, organizations deployed chatbots to respond to customer inquiries about refunds. In the era of agentic AI, those chatbots not only respond to queries for refunds, they issue those refunds quickly," says Ms. Terrill.
Respondents said the biggest benefits they expect to gain from agentic AI include faster and better access to information, better decision-making and increased productivity. Respondents said the top challenges or barriers they anticipate in implementing agentic AI include cybersecurity/privacy concerns, data quality and the cost to deploy the technology.
A majority of respondents ( 63 per cent ) said they expect agentic AI to boost their organization's profitability between five to 15 per cent, while 58 per cent said they expect the technology to reduce operating costs by a similar amount.
Gary Filan , KPMG's AI Lead in Canada says the most effective way to yield more value from agentic AI should be by incorporating it into existing and new applications, rather than isolated use cases.
"Standalone AI agents can help businesses automate tasks in a certain area, but organizations can yield more value from agentic AI by incorporating the technology across software applications. Integrated agents that can coordinate tasks across various workflows and business functions will help companies move beyond simple task automation to more dynamic business processes and workflows; that's a major shift that can boost productivity and profitability significantly," he says.
A workforce shift
While most respondents agreed agentic AI would bring value to their organizations, more than half ( 55 per cent ) said their workforce is not ready to work with or alongside AI agents, and nearly nine in 10 ( 89 per cent ) said their organization will need to invest in significant education, upskilling and workforce training to understand agentic AI's capabilities before adopting it.
Nearly all ( 92 per cent ) respondents said agentic AI will help their organization save costs by making human-led processes and workflows quicker and more efficient, while 89 per cent agreed agentic AI will allow their organization to fill a labour or skills gap.
Agentic AI's ability to make decisions on its own has led to concerns that the technology will replace humans, and business leaders acknowledged this in their survey responses: eight in 10 ( 82 per cent ) said agentic AI will help their organization reduce headcount, while nearly three quarters ( 72 per cent ) said there is concern among their employees that agentic AI will replace them and/or other business teams and functions.
"While it may be tempting for some organizations to use agentic AI to reduce labour costs, there are other more significant costs associated with reducing headcount – including loss of institutional knowledge, reputational damage, and employee morale and loyalty. There are ways to strategically reorganize the workforce around AI to optimize headcount and create a flexible, technology-enabled workforce for the future," says Mr. Filan.
About the survey KPMG in Canada surveyed 252 Canadian businesses from February 28 to March 5, 2025 , using Sago's premier research panel. 72 per cent of respondents identified as business owners and 28 per cent are senior level decision makers (C-suite, board member, executive, VP/Senior mgmt.). 16 per cent of respondents are in banking and capital markets; 15 per cent in industrial manufacturing; 15 per cent in technology, media and telecommunications; 12 per cent in consumer, retail and leisure; remaining respondents are spread out across other industries. 22 per cent of respondents' organizations reported annual revenues of $50M - $99.9 million ; 19 per cent reported between $100M and $299.9 million ; 10 per cent between $300M and $499.9 million ; 13 per cent between $500M and $699.9 million ; 10 per cent between $700 million and $899.9 million ; 12 per cent between $900 million and $1 billion ; and 14 per cent reported annual revenues over $1 billion .
About KPMG in Canada
KPMG LLP, a limited liability partnership, is a full-service Audit, Tax and Advisory firm owned and operated by Canadians. For over 150 years, our professionals have provided consulting, accounting, auditing, and tax services to Canadians, inspiring confidence, empowering change, and driving innovation. Guided by our core values of Integrity, Excellence, Courage, Together, For Better, KPMG employs more than 10,000 people in over 40 locations across Canada , serving private- and public-sector clients. KPMG is consistently ranked one of Canada's top employers and one of the best places to work in the country.
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Market expectations are that overall resin and foil prices will be relatively stable for the balance of the year. The Company is optimistic that the majority of the foil import tariffs will be passed along to customers. Going forward, the additional manufacturing costs relating to waste and quality should be curtailed significantly. Winpak expects gross profit margins for the second half of 2025 to be within the range of 30 to 32 percent. Capital expenditures of approximately $100 to $110 million are forecast for 2025, highlighted by the completion of the extensive expansion of the Winnipeg, Manitoba modified atmosphere packaging facility. Concurrently, Winpak will assess prospective acquisition opportunities that align strategically with the Company's core strengths, especially those that are focused on medical and pharmaceutical applications. Winpak Ltd. These interim condensed consolidated financial statements have not been audited or reviewed by the Company's independent external auditors, KPMG LLP. For a complete set of notes to the condensed consolidated financial statements, refer to or the Company's website, Winpak Ltd. Condensed Consolidated Statements of Income (thousands of US dollars, except per share amounts) (unaudited) Quarter Ended Year-To-Date Ended June 29 June 30 June 29 June 30 2025 2024 2025 2024 Revenue 272,800 283,496 557,602 560,279 Cost of sales (192,594) (191,431) (388,851) (382,022) Gross profit 80,206 92,065 168,751 178,257 Sales, marketing and distribution expenses (23,992) (24,418) (48,315) (49,067) General and administrative expenses (13,646) (12,414) (26,235) (25,134) Research and technical expenses (5,764) (5,435) (11,342) (10,731) Pre-production expenses (127) - (280) - Other income (expenses) 1,056 (1,730) (312) (2,009) Income from operations 37,733 48,068 82,267 91,316 Finance income 3,754 7,094 7,889 14,628 Finance expense (1,074) (1,162) (2,449) (2,522) Income before income taxes 40,413 54,000 87,707 103,422 Income tax expense (10,474) (14,981) (23,323) (28,628) Net income for the period 29,939 39,019 64,384 74,794 Attributable to: Equity holders of the Company 30,205 38,825 64,781 74,347 Non-controlling interests (266) 194 (397) 447 29,939 39,019 64,384 74,794 Basic and diluted earnings per share - cents 49 61 105 116 Condensed Consolidated Statements of Comprehensive Income (thousands of US dollars) (unaudited) Quarter Ended Year-To-Date Ended June 29 June 30 June 29 June 30 2025 2024 2025 2024 Net income for the period 29,939 39,019 64,384 74,794 Items that will not be reclassified to the statements of income: Cash flow hedge (losses) gains recognized - (354) 57 (1,160) Cash flow hedge losses transferred to property, plant and equipment - 115 378 64 - (239) 435 (1,096) Items that are or may be reclassified subsequently to the statements of income: Cash flow hedge gains (losses) recognized 2,540 (508) 2,832 (1,563) Cash flow hedge losses transferred to the statements of income 734 344 1,580 352 Income tax effect (876) 44 (1,181) 324 2,398 (120) 3,231 (887) Other comprehensive income (loss) for the period - net of income tax 2,398 (359) 3,666 (1,983) Comprehensive income for the period 32,337 38,660 68,050 72,811 Attributable to: Equity holders of the Company 32,603 38,466 68,447 72,364 Non-controlling interests (266) 194 (397) 447 32,337 38,660 68,050 72,811 Winpak Ltd. Condensed Consolidated Statements of Changes in Equity (thousands of US dollars) (unaudited) Attributable to equity holders of the Company Non- Share Retained controlling capital Reserves earnings Total interests Total equity Balance at January 1, 2024 29,195 1,361 1,319,491 1,350,047 33,602 1,383,649 Comprehensive (loss) income for the period Cash flow hedge losses, net of tax - (2,305) - (2,305) - (2,305) Cash flow hedge losses transferred to the statements of income, net of tax - 258 - 258 - 258 Cash flow hedge losses transferred to property, plant and equipment - 64 - 64 - 64 Other comprehensive loss - (1,983) - (1,983) - (1,983) Net income for the period - - 74,347 74,347 447 74,794 Comprehensive (loss) income for the period - (1,983) 74,347 72,364 447 72,811 Dividends - - (2,818) (2,818) - (2,818) Repurchase of common shares (876) - (63,250) (64,126) - (64,126) Balance at June 30, 2024 28,319 (622) 1,327,770 1,355,467 34,049 1,389,516 Balance at December 30, 2024 27,735 (3,174) 1,224,097 1,248,658 35,216 1,283,874 Comprehensive income (loss) for the period Cash flow hedge gains, net of tax - 2,131 - 2,131 - 2,131 Cash flow hedge losses transferred to the statements of income, net of tax - 1,157 - 1,157 - 1,157 Cash flow hedge losses transferred to property, plant and equipment - 378 - 378 - 378 Other comprehensive income - 3,666 - 3,666 - 3,666 Net income (loss) for the period - - 64,781 64,781 (397) 64,384 Comprehensive income (loss) for the period - 3,666 64,781 68,447 (397) 68,050 Dividends - - (4,400) (4,400) - (4,400) Repurchase of common shares (320) - (20,106) (20,426) - (20,426) Balance at June 29, 2025 27,415 492 1,264,372 1,292,279 34,819 1,327,098 Winpak Ltd. Condensed Consolidated Statements of Cash Flows (thousands of US dollars) (unaudited) Quarter Ended Year-To-Date Ended June 29 June 30 June 29 June 30 2025 2024 2025 2024 Cash provided by (used in): Operating activities: Net income for the period 29,939 39,019 64,384 74,794 Items not involving cash: Depreciation 13,507 13,086 27,193 25,766 Amortization - deferred income (499) (426) (965) (844) Amortization - intangible assets 346 387 696 778 Employee defined benefit plan expenses 676 697 1,357 1,356 Net finance income (2,680) (5,932) (5,440) (12,106) Income tax expense 10,474 14,981 23,323 28,628 Other (949) (652) (1,311) (1,017) Cash flow from operating activities before the following 50,814 61,160 109,237 117,355 Change in working capital: Trade and other receivables 5,747 (12,509) 6,801 (7,131) Inventories (10,153) (9,951) (20,335) (7,320) Prepaid expenses (346) 1,754 (2,879) 159 Trade payables and other liabilities 2,443 (1,180) (5,140) 10,995 Contract liabilities 370 391 (181) (528) Employee defined benefit plan contributions (1,220) (19) (1,238) (1,174) Income tax paid (15,921) (23,803) (30,900) (34,598) Interest received 3,637 6,686 7,443 14,078 Interest paid (973) (1,062) (2,204) (2,328) Net cash from operating activities 34,398 21,467 60,604 89,508 Investing activities: Acquisition of property, plant and equipment - net (26,537) (27,086) (45,934) (74,429) Acquisition of intangible assets (151) (9) (419) (32) (26,688) (27,095) (46,353) (74,461) Financing activities: Payment of lease liabilities (509) (402) (911) (799) Dividends paid (2,155) (1,436) (135,399) (2,907) Repurchase of common shares (5,474) (56,567) (19,172) (62,878) (8,138) (58,405) (155,482) (66,584) Change in cash and cash equivalents (428) (64,033) (141,231) (51,537) Cash and cash equivalents, beginning of period 356,458 554,366 497,261 541,870 Cash and cash equivalents, end of period 356,030 490,333 356,030 490,333 SOURCE Winpak Ltd.

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