Prime Minister Justin Trudeau has announced a C$2.4 billion ($1.8 billion) investment package designed to boost the country’s artificial intelligence (AI) sector.
This strategic financial commitment underscores Canada’s dedication to securing its position as a global leader in AI innovation, providing essential support to researchers, start-ups, and scale-up companies within the AI domain.
That is actually a good investment
— Shervin Mir (@shervinrmir) April 7, 2024
The investment plan allocates a substantial C$2 billion ($1.47 billion) towards enhancing computing capabilities and technological infrastructure, which is vital for developing and growing AI research in Canada. This move aims to foster a conducive environment for AI advancements, enabling Canadian researchers and entrepreneurs to push the boundaries of innovation.
However, some seemed to criticize the government.
Wow, another success just like ArriveScam.
— tim guimond (@tiren789) April 8, 2024
Additionally, the package includes a C$147 million investment to support AI start-ups across various industries such as agriculture, clean technology, healthcare, and manufacturing, demonstrating the government’s intent to integrate AI innovations across diverse economic sectors.
WHERD ARE THESE BILLIONS COMING FROM?????????????
— PEACE ☮️ 🕊🫧✨ (@handsOFFtheKIDS) April 7, 2024
To address the potential impact of AI on the workforce, the Trudeau administration has earmarked C$36.8 million for the Sectoral Workforce Solutions Program, focusing on re-skilling and upskilling employees to align with the evolving job market driven by AI advancements.
You’d almost think we weren’t in the biggest deficit in our country’s history with all this irresponsible spending
— dresden_k (@dresden_k) April 7, 2024
Another significant investment component is the establishment of the Canadian AI Safety Institute, backed by C$36.8 million, to ensure the ethical development and deployment of AI technologies, reinforcing Canada’s commitment to AI safety and responsible innovation.
Since the introduction of the Pan-Canadian Artificial Intelligence Strategy in 2017, Canada has been at the forefront of AI development, and this new funding initiative is set to further enhance its market value, which already stands at a commendable $7.4 billion.
They spent $55 Million on a program that cost $53,000 to create. Nothing to see here.
— Ksamnet 🇨🇦🇯🇲🍎🚜 (@ksamgnet1) April 7, 2024
Industry stakeholders have enthusiastically welcomed the investment, which they view as a catalyst for technological innovation, economic growth, and job creation. As AI continues to transform various industries, Canada’s proactive measures to strengthen its AI sector reflect a comprehensive vision to harness AI’s benefits while ensuring a sustainable and inclusive future for its workforce.
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