Government of Canada invests $200 million to help businesses adopt AI and bring new technologies and solutions to market
EDMONTON, AB, Oct. 22, 2024 /CNW/ – Artificial Intelligence (AI) represents a transformational opportunity for Canadian businesses. To ensure that Canada stays at the forefront of innovation, the Government of Canada is making strategic investments that will help drive AI adoption across the country. This includes $200 million over five years for Canada’s regional development agencies, including PrairiesCan, to deliver the Regional Artificial Intelligence Initiative (RAII) to help businesses bring new AI technologies to market and speed up AI adoption in sectors across the country.
Today, the Honourable Dan Vandal, Minister responsible for PrairiesCan, announced that businesses and organizations can now apply for the new initiative in the Prairie provinces.
The funding will support eligible businesses to take their AI projects and technologies from the lab to the marketplace. Funding is also available to not for profits organizations supporting businesses to develop, demonstrate and commercialize their AI applications and solutions.
Applications are being accepted until December 31, 2028. For more information on eligibility criteria and eligible costs, or to apply to the Regional Artificial Intelligence Initiative, visit the PrairiesCan web page.
Quotes
“AI presents a powerful opportunity for Prairie businesses to innovate, strengthen productivity and remain competitive for years to come. The Regional Artificial Intelligence Initiative (RAII) will support businesses on the Prairies bring new technologies to market and succeed in the global economy.”
–The Honourable Dan Vandal, Minister for PrairiesCan
“Small and medium-sized businesses are the backbone of Canada’s AI ecosystem. The investments announced today are designed to serve as a catalyst for quicker AI adoption by this vital section of the economy, be a source of significant Canadian innovation, and enhance productivity and exports. The government will build on this with Canada’s first sovereign compute strategy that will reflect the voices of Canadians from coast to coast to coast.”
–The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry
Quick Facts
AI is a platform technology tool that provides the basis for creating multiple end-use products or services in a variety of sectors, such as an AI-based robotics system in auto manufacturing or food processing.Over the next five years, PrairiesCan will deliver $33.8 million of this support in the Prairies.Through the $2.4 billion Pan-Canadian Artificial Intelligence Strategy, the Government of Canada is investing in efforts to drive the adoption of artificial intelligence across Canada.
Prairies Economic Development CanadaRegional Artificial Intelligence InitiativeBudget 2024Pan-Canadian Artificial Intelligence Strategy
Stay connected
Follow PrairiesCan on X (formerly Twitter) and LinkedIn
SOURCE Prairies Economic Development Canada
