The federal government of Canada has announced a $2.4 billion investment in the country’s artificial intelligence (AI) sector in order to accelerate job growth and boost businesses’ productivity. The investment will be divided between various measures aimed at advancing the AI and tech industry, including increasing access to computing and technological infrastructure, investing in AI start-ups in critical sectors such as health care, agriculture, and manufacturing, and helping small and medium-sized businesses incorporate AI. Additionally, $50 million will be committed to training workers whose jobs may be disrupted by AI technology.
Prime Minister Justin Trudeau emphasized that AI will help build a fairer future with more jobs, growth, and homes for Canadians. He noted that innovation and technology are some of the highest paying industries in the country, with an increasing demand for Canadians with AI skills. The new investment is part of Ottawa’s 2024 budget, which will be tabled by Finance Minister Chrystia Freeland on April 16. This commitment is the latest of several pre-budget announcements made by the federal government in recent weeks.
In addition to the AI investments, Trudeau announced new measures aimed at protecting Canadian renters and helping them break into the housing market. He highlighted the government’s efforts to build more homes, ensure access to food for every child, invest in health care, make life more affordable, and create good jobs to help every generation succeed. Foreign Affairs Minister Francois-Philippe Champagne also made an announcement in Toronto, with Deputy Prime Minister Chrystia Freeland and Conservative Leader Pierre Poilievre scheduled to speak as well.
The federal government has committed over $2 billion since 2016 to support growth in Canada’s AI sector and digital infrastructure. In 2017, Canada established the Pan-Canadian Artificial Intelligence Strategy, becoming the first country to have a national AI strategy. The government’s press release highlighted that the strategy has helped Canada maintain its position as a world leader in AI and has made businesses more competitive. The goal is to raise the bar in order to secure good paying jobs and job security for generations of young Canadians.
Overall, the $2.4 billion investment in Canada’s AI sector is a significant step towards advancing job growth and boosting businesses’ productivity in the country. The government’s focus on innovation and technology, along with initiatives to support renters, housing, and affordability, demonstrates a commitment to ensuring a fairer future for all Canadians. The investment is part of ongoing efforts to support growth in the digital economy and maintain Canada’s competitive edge in the global AI race. By investing in AI technology and supporting businesses in critical sectors, the government aims to create more jobs, foster economic growth, and provide opportunities for future generations of Canadians.
