Canada's artificial intelligence (AI) industry is set for a significant growth with the announcement of a $2.4 billion federal funding injection aimed at boosting AI research, development, and adoption.
The announcement, made by Prime Minister Justin Trudeau during a pre-budget tour in Montreal, outlines a comprehensive strategy to propel Canada's AI capabilities forward.
Canada Rolls Out Massive $2.4 Billion Funding for AI
Of the total funding, $2 billion will be allocated to enhance computing capabilities and technical infrastructure, fostering innovation among AI researchers and start-ups.
Trudeau emphasized the importance of fostering positive impacts across various sectors, earmarking $200 million to drive AI adoption in key industries such as agriculture, health care, and clean technology.
"Access to computational power and capital are two of the largest barriers to developing new AI models or applications," Trudeau told the press.
Furthermore, recognizing the imperative of ensuring the responsible development and deployment of AI, the government plans to establish a $50-million AI safety institute to safeguard against potential risks posed by advanced or nefarious AI systems.
An additional $5.1 million will be dedicated to establishing an office of the AI and Data Commissioner, tasked with enforcing the proposed Artificial Intelligence and Data Act, aimed at updating privacy laws and introducing new obligations for high-impact AI systems.
Also, the fresh funding will assist workers who may be impacted by AI, such as those in the creative industries, with $50 million to provide new skills training to individuals in potentially affected sectors and communities.
(Photo : SERGEI GAPON/AFP via Getty Images)
Canada's prime minister Justin Trudeau speaks during a joint press conference with Poland's prime minister in Warsaw on February 26, 2024.
AI Experts Anticipate Fast AI Commercializatiom
Industry experts and stakeholders have welcomed the government's commitment to advancing Canada's AI capabilities. Speaking with Bloomberg, Krista Jones, chief delivery officer at the MaRS Discovery District innovation hub, expressed excitement about the potential for widespread commercialization of AI products and services, noting that the funding injection is "a badly needed kind of injection."
However, concerns have been raised regarding the adequacy of funding for the proposed AI and data commissioner's office, with calls for additional resources to meet industry demand for guidance on responsible AI.
Innovation, Science, and Industry Minister François-Philippe Champagne echoed sentiments of optimism, urging a shift in perspective from questioning the implications of AI to defining its societal benefits. He urged, "Let's stop asking what AI will do to us, and why don't we start asking what we want AI to do for us."
While the federal government's commitment to bolstering the AI sector is commendable, challenges remain. The Canadian Chamber of Commerce highlighted the need to address concerns surrounding Bill C-27, emphasizing the importance of avoiding regulatory hurdles that could stifle private-sector investment.
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