Deloitte is spinning out a part of its AI business into an individual startup led by Shelby Austin, former managing partner of the firm’s Omnia AI group. The new startup, Arteria AI, will focus on providing intelligence-based software solutions for managing contracts, and helping large enterprises track the progress of their deals. (The Globe and Mail)

Talking point: Austin joined Deloitte in 2014 when the firm bought her her legal-services startup ATD. She was tasked with leading Deloitte’s AI practice, and developed dtrax, as Arteria was known, within the Deloitte umbrella. Austin’s vision is to grow Arteria beyond the mid-sized business it was at Deloitte, and is looking to raise millions of dollars for expansion. The professional-services firm had invested $1 million in the company over the past four years, and will continue to hold a 25 per cent stake, with Austin owning the rest. “I think right now, particularly [during the pandemic], it will prove to be the dumbest or smartest thing I’ve ever done,” she said.