Saying that the impact of technology on the world is a turning point, Gov. Phil Murphy – speaking Tuesday at the FinTech Forum in Montreal – urged leaders in New Jersey and Quebec to work together.
“At a time when the world is buffeted by disruptions – from inflation to climate change to two open wars – we must chart a better path forward,” he told a packed audience during a keynote address that opened the two-day conference.
Murphy told the audience that the technology world is at a turning point.
“With every passing day, we see new areas of innovation – from generative AI to quantum computing – evolving at a breakneck pace,” he said. “And disruption is increasingly becoming our new normal.”
“So, at this pivotal moment in world history, New Jersey and Quebec – and Canada more broadly – have a golden opportunity to come together and leverage our shared strategic advantages to build a better, more sustainable and more prosperous planet for all.”
Murphy said the two fields are logical partners.
Murphy highlighted the historical breakthroughs of both regions: New Jersey being the birthplace of the light bulb, the transistor and the film industry, while Quebec claims credit for the discovery of radon at McGill University in Montreal.
The governor also highlighted the many commercial ties: Quebec and New Jersey are both located at the heart of their countries’ financial systems, noting that New Jersey is a hub for some of the biggest names in finance (he cited Prudential Financial, Barclays, ADP, JPMorgan Chase, BNY Mellon and Fiserv) before noting that the state is also a “second home” to some of Canada’s largest information technology and financial institutions, namely CGI and TD Bank.
Mention was also made of the highly skilled workforce and top-tier universities in both regions.
“Your province, and our state, attracts brilliant change-makers from all corners of the world and brings them together to discover new possibilities,” he said.
“New Jersey and Quebec can write the next chapter in the history of the Canada-U.S. alliance. We can embrace the spirit of collaborative innovation to reshape the worlds of finance and technology, and in doing so, help generations of working families thrive.”
Murphy said the effort began Tuesday. with the signing of a memorandum of understanding between the Stevens Institute of Technology, one of the world’s leading fintech institutions, and Finance Montréalthe financial nerve center of Quebec.
“New Jersey and Quebec have an opportunity to build on our shared heritage of innovation and come together to support our shared values,” he said. “With partnerships like the one we are celebrating this morning, between Finance Montreal and the Stevens Institute of Technology —we can usher in a new century of discovery and prosperity around the world.
Murphy said the impact of the deal must go beyond fintech.
“Frankly, this is not just about seizing an economic opportunity for our workers and entrepreneurs, it’s also about fulfilling our responsibility to future generations,” he said.
“Faced with a world in peril, it is imperative that allies, like the United States and Canada, strengthen their partnerships and work together to build a more sustainable future.”