Canada Unveils C$2.4 Billion AI Investment Package

April 8, 2024

The Canadian government has announced a substantial C$2.4 billion ($1.8 billion) investment package to bolster the country’s artificial intelligence (AI) sector. The move comes as Prime Minister Justin Trudeau continues to unveil spending plans ahead of a new budget.

Computing Capabilities and Technological Infrastructure

The primary focus of the investment is a C$2 billion fund dedicated to enhancing computing capabilities and technological infrastructure. This funding aims to accelerate the work of AI researchers, startups, and other companies in the field.

Adoption of AI in Various Sectors

In addition to the main fund, the government will allocate resources to expedite the adoption of AI in sectors such as agriculture and healthcare. The goal is to harness the full potential of AI to create well-paying jobs for Canadians, especially young people, while simultaneously increasing productivity and economic growth.

Montreal: A Hub for AI Expertise

Prime Minister Trudeau made the announcement in Montreal, which has emerged as one of Canada’s AI hubs. The city has developed a strong reputation for fundamental research, largely due to the presence of renowned AI researcher Yoshua Bengio. Last year, Bengio joined notable figures such as Elon Musk and Apple Co-Founder Steve Wozniak in signing a letter urging developers to pause the training of powerful AI models.

Additional Facts:

Canada is home to several AI hubs, including Toronto, Edmonton, and Vancouver, in addition to Montreal. The country has produced numerous influential AI researchers, such as Geoffrey Hinton, Yoshua Bengio, and Richard Sutton, who have made significant contributions to the field of deep learning and reinforcement learning. The Canadian government has previously invested in AI research and development through initiatives like the Pan-Canadian AI Strategy, launched in 2017 with a budget of C$125 million over five years.

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