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Canada commits CAD 2.4bn to grow its AI sector

The federal government of Canada has agreed a financial package to boost the country's AI activity. It includes a new AI Compute Access Fund.

So-called 'Bill C-27' is the first federal legislation specifically aimed at artificial intelligence. Alongside the funding commitment, it will also update privacy laws and introduce new obligations for "high-impact" systems. This includes a CAD 50-million AI safety institute and a CAD 5.1 million contribution to the AI and Data Commissioner's office.

These key measures include:

  • A CAD 2 billion (USD 1.5 billion) fund to build and provide access to computing capabilities and technological infrastructure for Canada’s AI researchers, start-ups, and scale-ups.
  • A new AI Compute Access Fund to provide near-term support to researchers and industry.
  • A new Canadian AI Sovereign Compute Strategy to catalyse the development of Canadian-owned and located AI infrastructure.
  • CAD 200 million (USD 150 million) of support to be managed by Canada’s Regional Development Agencies.
  • CAD 100 million (USD 74 million) for  the NRC IRAP AI Assist Program to help small and medium-sized businesses scale up and increase productivity by building and deploying new AI solutions.
  • A new Canadian AI Safety Institute, with CAD 50 million to further the safe development and deployment of AI.

Prime Minister Justin Trudeau said: "AI has incredible potential to transform the economy, improve the way we work, and enhance our way of life. The global race to scale up and adopt AI is on, and Canada is at the forefront of this technology...We want to help companies adopt AI in a way that will have positive impacts for everyone."


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May 14 2024 7:33 am V22.4.46-2
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