Justin Trudeau reveals $1.8 billion investment in Canada’s AI industry | Global News

Canada is making a bold move to boost its artificial intelligence sector with the launch of a new fund and the creation of an AI safety institute. Prime Minister Justin Trudeau announced a C$2.4 billion package of measures aimed at accelerating the development and adoption of AI technology in various sectors.

The centerpiece of the announcement is a C$2 billion investment in computing capabilities and technological infrastructure to support AI researchers, startups, and other firms. This funding is expected to drive innovation and create new job opportunities for Canadians, especially young people.

Benjamin Bergen, head of the Council of Canadian Innovators, expressed optimism about the announcement but emphasized the need for clarity on how companies can access the resources being made available. He believes that this investment will help Canadian companies compete globally and move in the right direction.

The announcement was made in Montreal, a hub for AI research in Canada, where renowned AI researcher Yoshua Bengio is based. Bengio, along with other prominent figures in the tech industry, has raised concerns about the trajectory of AI development and welcomed the creation of the Canadian AI Safety Institute with a C$50 million budget.

Canada has yet to adopt a law to regulate AI, but the government is taking steps to monitor foreign investments in key technology sectors like AI and quantum computing to safeguard national security interests. With the upcoming budget plan set to be released on April 16, the government is signaling its commitment to supporting the growth of the AI industry in Canada.