REGINA, Sask. — Artificial intelligence, and navigating tariff and trade issues, proved to be major topics at the BDC 2026 Economic Outlook put on by the Regina Chamber of Commerce.
The presenters at the event last Wednesday morning acknowledged some of the challenges, but provided some ideas and a positive message about how to approach the current headwinds and take advantage of the opportunities.
The challenge and the potential of AI for business was very much on the mind of Isabelle Hudon, president and CEO of BDC — Canada's Business Development Bank.
She told the audience that from her point of view, AI is “the card that we have to get our productivity performance higher and to close the gap with other countries.”
But Hudon said Canadian businesses were lagging in deploying and adopting AI.
“We believe that we're average, average good. But I would invite you to open your eyes on the rest of the world from an AI perspective. We're lagging, and sadly so, as usual, from a technology perspective, we're bottom of the list.”
In speaking to reporters afterward, Hudon emphasized she saw AI adoption as an opportunity.
“And honestly, I'm seeing a huge change in posture of entrepreneurs. The level of curiosity and willingness to deploy AI is real, they want to know now how. And that's where BDC can play a role.”
Tariffs are a reality, so let’s up our game: Al-Katib
There was even more discussion about the other major topic, that being tariffs. Murad Al-Katib, president and CEO of AGT Foods and Ingredients, was the keynote speaker at the event, and he had a lot to say about tariffs, trade and how businesses in Saskatchewan and Canada ought to approach the situation.
“Tariffs are a new reality. So let's stop licking our wounds and complaining about it and recognize it,” said Al-Katib.
“Tariffs are an instrument of policy that has been around for years and decades and generations. We just have a U.S. president that's chosen to talk about it and put it on Truth Social every day…
“So, we have to recognize it, up our game, and get more competitive to recognize where we are and to start to play the game that the rest of the world plays, which is not retaliatory tariffs, but it is a game of tariff arbitrage and competitiveness and productivity. That's what we need to do.”
Al-Katib also pointed to the importance of not relying solely on the United States for trade, and to diversify to other markets. He pointed to the analogy of a four-legged stroll, with essential legs being the U.S., China, India and then the rest of the world.
“Just remember, love the golden goose,” he said. “To me, the golden goose is the United States. I love the golden goose. But I just want to find another one. I'd love to have another golden egg in the basket. It's always better to have more than one.”
Al-Katib also looked ahead to the day when the tariff dispute with the U.S. was behind Canada.
He said his “biggest fear as a business leader, is that we're going to get a deal and we're all just going to go back to the same old, same old and we're going to keep complacent. And we're going to forget about it again. And we're going to wait for a bully to punch us in the nose again.
“So, that's what I don't want. So, I want to make sure that when we look at it, we continue and we sustainably look at new markets.”
Saskatchewan still well positioned to navigate current environment
Despite the turbulent times, BDC’s director of economic research Arnaud Franco told the Regina audience that the economic outlook for Saskatchewan is a good one.
“Saskatchewan is exposed comparatively less than other Canadian provinces to U.S. tariffs,” Franco said in speaking to SaskToday.
“Now, that's not to say that there aren't a lot of businesses that are feeling the strain, especially small businesses. But the presence of a very strong resource sector in Saskatchewan means that its economy has continued to progress very, very well.”
He pointed to investments in the last few years into energy, potash and the agricultural sectors. It is those commodities markets and the upwards pressure on prices that are benefiting Saskatchewan, Franco said.
“We're operating right now in an environment where commodities markets globally are under a lot of pressure because of what's happened with tariffs, first of all in 2025, and then with the situation in the Middle East early this year. So, that generally puts upward pressure on commodities, which means that a commodities producer like Saskatchewan finds itself in a position to benefit from those increased costs.”
He adds that at BDC, they do not believe that the Mideast crisis is going to be sorted out immediately. And even if it is, “it's going to take time for the supply chains to catch up.”
“So, it also points to a favourable outlook for 2027. We expect commodity prices will be up, and then Saskatchewan's economy will continue to benefit from that. So, there's that sector that's doing a lot of good work, and it's helping support some of those businesses that are affected adversely by tariffs.”
