At the One Young World Summit in Montréal, Quebec on Friday, the Prime Minister, Justin Trudeau has highlighted $2.4 billion package of measures announced by Federal Government in Budget 2024 to secure Canada’s Artificial intelligence (AI) advantage.
Trudeau stated that these investments will accelerate job growth in Canada’s AI sector and beyond, boost productivity by helping researchers and businesses develop and adopt AI, and ensure this is done responsibly.
Artificial intelligence (AI) has the power to strengthen our economy, boost productivity, and create exciting new opportunities for every generation, including Millennials and Gen Z. The global race to scale up and adopt AI is on, and Canada is at the forefront of this technology.
“Our partnerships with innovators, researchers, and experts like Yoshua Bengio are a testament to our commitment to making Canada the world-leader in AI adoption and safety. That’s good news for the economy, for productivity, and for Canada’s future”, he added.
Highlighting the measures which he said its includes investing $2 billion to build and provide access to computing capabilities and technological infrastructure for Canada’s world-leading AI researchers, start-ups, and scale-ups.
“Together, these initiatives aim to provide near-term support to researchers and industry while helping to build Canada’s domestic AI infrastructure.
“Ensuring access to cutting-edge computing infrastructure will attract more global AI investment to Canada, develop and recruit the best talent, and help Canadian businesses compete and succeed on the world stage.
“Boosting AI start-ups with $200 million in support to bring new technologies to market and accelerate AI adoption in critical sectors, such as agriculture, clean technology, health care, and manufacturing, through Canada’s Regional Development Agencies.
“This will help companies incorporate AI into their businesses and take on research, product development, testing, and validation work for new AI-based solutions.
“Providing $50 million to support workers who may be impacted by AI. Administered through theSectoral Workforce Solutions Program, this funding will provide new skills training for workers in potentially disrupted sectors and communities.
“Creating a new Canadian AI Safety Institute, with $50 million to further safe development and deployment of AI. The Institute, which will leverage input from stakeholders and work in coordination with int’l partners, will help Canada better understand and protect against the risks of advanced AI systems, including to specific communities.
“Strengthening enforcement of the Artificial Intelligence and Data Act, with $5.1 million for the Office of AI and Data Commissioner which the proposed Act aims to guide AI innovation in a positive direction to help ensure Canadians are protected from potential risks by ensuring the responsible adoption of AI by Canadian businesses.
The Prime Minister stated further that these investments in innovation and economic growth will secure Canada’s world-leading AI advantage, today and for generations to come and create good-paying opportunities for every generation, raise productivity, and strengthen our economy.
“Alongside this, we are making generational investments to train top-tier, homegrown research talent, making post-secondary education more affordable with interest-free Canada Student Loans, and ramping up investments to support research infrastructure and institutes.
The One Young World Summit is an annual event that brings together young leaders to connect, share ideas, and tackle global challenges to inspire greater achievements, both individually and collectively while this year’s Summit is taking place in Montréal from September 18 to 21, 2024.