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Trudeau Announces $1.8 Billion Plan to Help AI in Canada

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Canada is making a plan to help its artificial intelligence (AI) industry grow. Prime Minister Justin Trudeau shared the plan as part of his spending announcements before a new budget.

The government revealed a package of measures worth C$2.4 billion (which is about $1.8 billion in US dollars) for AI on Sunday. The main part of the plan is C$2 billion to improve computing and technology for AI researchers, startups, and other companies.

Trudeau Announces $1.8 Billion Plan to Help AI in Canada

They will also use some of the money to make AI more useful in areas like farming and healthcare. Trudeau hopes this funding will create good jobs for Canadians, especially young people, and boost the country’s economy.

Benjamin Bergen, who leads the Council of Canadian Innovators, wants more details about how companies can access the new resources. He thinks this plan could help Canadian companies compete globally.

Trudeau announced the plan in Montreal, a city known for its AI research. One of the reasons for Montreal’s expertise in AI is because of Yoshua Bengio, a famous AI researcher. Bengio supports the new Canadian AI Safety Institute with a budget of C$50 million.

Canada still doesn’t have a law to control AI. The government introduced the Artificial Intelligence and Data Act in 2022, but it’s still being discussed by lawmakers.

Last year, there were over 140,000 people working in AI in Canada. Almost 30% of all venture capital activity in Canada in 2022 was related to AI, showing its importance in the country’s economy.

Industry Minister Francois-Philippe Champagne says soon the government will need to be told in advance about non-Canadian companies planning to invest in important tech areas like AI. This will help the government think about the impact on national security, especially regarding investments from China.

Finance Minister Chrystia Freeland will share more details about the budget on April 16. However, the government has been giving updates about it through various events.

Source: Bnnbloomberg