The federal government will include a $2.4 billion artificial intelligence (AI) investment in the 2024 budget.
In a press release, Prime Minister Justin Trudeau said the funding will help create jobs in the AI field and boost the productivity of researchers and businesses through its adaption.
“AI has the potential to transform the economy. And our potential lies in capitalizing on the undeniable Canadian advantage,” Trudeau said in a statement. “These investments in Budget 2024 will help harness the full potential of AI so Canadians, and especially young Canadians, can get good-paying jobs while raising our productivity, and growing our economy.”
The funding will go towards a variety of measures. Most of the investment ($2 billion worth) will go towards creating computing capabilities and technological infrastructure for AI researchers, start-ups, and scale-ups. As part of the measure, the government will launch the AI Compute Access Fund to support researchers.
Ottawa is allocating $200 million through regional development agencies to bring new technologies to market in “critical” industries, including agriculture and health care.
Additionally, $100 million is going towards helping small and medium-sized businesses incorporate AI, while $50 million is going towards skills training for people who may be impacted by AI, such as those in the creative industries. The same amount will also go towards creating a new Canadian AI Safety Institute.
This is the federal government’s latest AI-related announcement. Last month, Ottawa said it’s tightening rules on foreign investments in several sectors, including AI, over national security. The federal government launched a voluntary code of conduct for AI systems in September.
Image credit: X/@JustinTrudeau
Source: Prime Minister’s Office
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