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Canada’s Prime Minister Justin Trudeau announced on Sunday, April 7, that his administration will invest C$2.4 billion to bolster the country’s artificial intelligence industry. He said the latest funding is aimed at scaling up and pushing the growth of the nation’s AI and technology sector.
Moreover, this is said to be one of the investments that Trudeau has committed to and part of a new budget for his government’s plans for technological advancements. According to The Wall Street Journal, the Canadian prime minister and other senior officials revealed the AI investment and other items they plan to spend the government’s annual budget on.
Canada’s Budget Plans
The budget plan is set to be officially released at the nation’s parliament on April 16. Prior to this, the PM and his administrators have been sharing bits of information related to the budget plans over the past week. As of this time, it was reported that aside from artificial intelligence and tech, most funds will be used to multiply housing construction.
At any rate, the promise to beef up AI in the country shows that the Canadian government intends to announce more spending pledges this week or next. Likewise, Trudeau and officials are also expected to reveal plans to boost the country’s defense by allocating more funds for it. This comes amid concerns that Canada is not pulling its weight as one of the members of the North Atlantic Treaty Organization.
Trudeau’s Funds for AI
Meanwhile, the prime minister announced that the country will set aside C$2.4 billion in its new budget plan to strengthen its capacity in AI. A large chunk of the investment will go to projects giving the country access to computing capabilities and technical infrastructure.
He shared the government will start consultations with industry experts soon for the new AI Compute Access Fund. CBC News reported that they formed the Bill C-27 for this project. This is the first federal legislation that is especially aimed at AI.
"We want to help companies adopt AI in a way that will have positive impacts for everyone," Prime Minister Trudeau said. The government plans to launch a $50-million AI safety institute to protect against what it calls ‘advanced or nefarious AI systems’ and another $5.1 million will go toward an office of the AI and Data Commissioner to enforce the proposed Artificial Intelligence and Data Act.”
Photo by: Igor Omilaev/Unsplash
