The artificial intelligence (AI) industry in Canada is making significant strides with the government’s recent initiatives aimed at fortifying the sector and capitalizing on its potential. In line with this vision, Prime Minister Justin Trudeau has revealed a comprehensive package of measures amounting to C$2.4 billion ($1.8 billion) to enhance the development and integration of AI technologies into various industries.
One of the primary focuses of this initiative is the allocation of C$2 billion to enhance computing capabilities and technological infrastructure. This sizable investment is intended to expedite the efforts of AI researchers, startups, and companies operating in the sector. Moreover, the government has designated specific funds to drive the adoption of AI in critical sectors such as agriculture and healthcare.
The overarching goal of these initiatives is to fully unleash the capabilities of AI, generating job opportunities, boosting productivity, and fostering economic growth for Canadians, particularly the younger demographic. Prime Minister Trudeau has underscored the significance of this endeavor, emphasizing its potential to create avenues for Canadians to secure lucrative employment opportunities.
Benjamin Bergen, the head of the Council of Canadian Innovators, has raised concerns regarding the clarity on how businesses can leverage the computing resources and infrastructure provided by the government. He believes that facilitating Canadian companies’ competitiveness on a global scale through this initiative would signify a substantial step forward for the industry.
The announcement of these initiatives took place in Montreal, a key AI hub in Canada renowned for its expertise in fundamental research, overseen by prominent AI researcher Yoshua Bengio. Bengio has accentuated the apprehensions prevailing among researchers regarding the trajectory of AI development and has lauded the establishment of the Canadian AI Safety Institute, endowed with a budget of C$50 million, positioning Canada favorably for responsible AI advancement.
While these developments underscore Canada’s growing prominence in the global AI landscape, the country has yet to introduce dedicated legislation to govern AI practices. The Artificial Intelligence and Data Act, proposed in 2022, is currently under evaluation by members of parliament. Nevertheless, the presence of over 140,000 active AI professionals in Canada and the substantial investments in AI ventures, notably accounting for nearly 30% of the country’s venture capital activity in 2022, reflect the burgeoning interest in the field.
Industry Minister Francois-Philippe Champagne has unveiled plans to mandate advance notification for the government regarding non-Canadian entities intending to invest in pivotal technology domains like AI and quantum computing. This initiative aims to enable the government to evaluate potential national security implications arising from such investments, particularly monitoring the influx of Chinese capital into Canadian entities.
Looking ahead, Finance Minister Chrystia Freeland is set to unveil the fiscal 2024-25 budget plan on April 16, with preliminary details already being disseminated through a series of government events.
Sources:
Bloomberg