Prime Minister Justin Trudeau announces Canada’s $1.76 billion commitment to bolster its AI sector, emphasizing economic potential and global competitiveness.
The investment includes $1.47 billion for AI infrastructure and support for researchers and startups through the AI Compute Access Fund. $147 million will aid AI startups in key sectors like agriculture and healthcare, while $73.5 million targets small to medium-scale AI companies.
A portion will assist workers transitioning due to AI’s impact, with $36.8 million allocated for retraining. Additionally, $36.8 million will establish a Canadian AI Safety Institute. Canada’s AI strategy, initiated in 2017, aims to drive AI adoption through research and commercialization.
Benjamin Bergen, head of the Council of Canadian Innovators, said his group was seeking more clarity on how companies will gain access to the computing power and infrastructure the government plans to make available.
He further added, “If this gives Canadian companies the resources to compete globally, today’s announcement is a step in the right direction”
The country seeks to attract emerging AI firms, with notable collaborations like Tenstorrent partnering with Samsung. The move underscores Canada’s commitment to advancing AI technology and its potential economic benefits.
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