Canada’s top engineering firms fend off concerns over AI

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeInformation TechnologyEconomyCanada’s top engineering firms fend off concerns over AIThe U.S. is entering an electric infrastructure 'supercycle,' supporting growth opportunities, said WSP's Alexandre L’HeureuxAuthor of the article:Incoming Stantec chief executive Susan Reisbord said Tuesday at the Bloomberg Canadian Finance Conference that AI is a productivity tool like others it’s had for a long time. Photo by Tiffany Hagler-Geard/Bloomberg via Getty ImagesCanada’s largest publicly traded engineering firms are seeking to downplay concerns that artificial intelligence might disrupt their business models, arguing AI will boost demand for their services.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountFears about AI’s impacts have weighed on valuations, with shares of WSP Global Inc., AtkinsRealis Group Inc. and Stantec Inc. — all of which have large Unites States operations — respectively down 32 per cent, 13 per cent and 34 per cent over the past 12 months as of Monday.This advertisement has not loaded yet, but your article continues below.Some investors have stepped back as revenue compression worries crept in. The concern is that AI-driven productivity may reduce billable hours for completing tasks and lead clients to push for lower pricing.SUBSCRIBER EXCLUSIVE: FP West: Energy Insider brings you behind the oilpatch’s closed doors with exclusive insights from insiders every Wednesday morning.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of FP West: Energy Insider will soon be in your inbox.We encountered an issue signing you up. Please try againIncoming Stantec chief executive Susan Reisbord said Tuesday at the Bloomberg Canadian Finance Conference in New York that AI is a productivity tool like others it’s had for a long time.“We can’t pull back a bridge or a road,” she said. “We have a big responsibility to be able to use it in the work that we provide by having the belts and suspenders to make sure that it’s a safe use.”“So could the commercial model change a little bit? Yes,” she said, explaining that using AI tools has a cost too. “I don’t see the price going down by any stretch of the imagination of the total project price.”AtkinsRealis chief executive Ian Edwards pinpointed the shortage of engineers. “So what AI is going to do is enable more capacity in the industry to deliver more desperate needs for power and infrastructure,” he said. Ian Edwards, president and chief executive of AtkinsRealis, centre, and Susan Reisbord, incoming president and chief executive officer of Stantec, right, speak during the Bloomberg Canadian Finance Conference in New York, US, on Tuesday, Sept. 29, 2026. Photo by Tiffany Hagler-Geard/Bloomberg via Getty ImagesOn the upside, engineering firms are also exposed to AI through the data centre buildout.This advertisement has not loaded yet, but your article continues below.Stantec expects benefits for its infrastructure and nature-based solutions divisions, which can make projects “more acceptable” to communities when there’s some pushback, Reisbord said.AtkinsRealis foresees a big boost for its nuclear business. It filed in June a notice of intent with the U.S. Nuclear Regulatory Commission to get certification of its Enhanced Candu 6 nuclear reactor, and has already spoken with U.S. utilities and hyperscalers.Energy demand “is going to outstrip supply,” Edwards said. “It is a challenge, and we’ve got to find ways to build human capacity, to make ourselves more efficient, to use AI, to reduce the amount of people and make it more efficient.”WSP, which acquired TRC Companies Inc. earlier this year, said during an investor presentation Monday that the U.S. is entering an electric infrastructure “supercycle,” supporting growth opportunities.New technologies let its engineers navigate the more complex projects ahead and model options, the firm said. At the same time, demand for digital capabilities is increasing in bids.“I look at the size of digital services that we need now to offer compared to where it was just five years ago,” WSP chief executive Alexandre L’Heureux said in the presentation. “I see a huge gap, or a big difference.”We apologize, but this video has failed to load.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.