PacifiCan funding of over $32 million will help businesses bring new technologies to market and adopt AI
BURNABY, BC, Oct. 28, 2024 /CNW/ – Artificial Intelligence (AI) is a transformational opportunity for British Columbians. With a strong AI ecosystem – one that includes researchers developing technology, companies creating AI-based solutions to the world’s challenges, and adopters putting the power of AI to work in their operations – British Columbian businesses are well-positioned to leverage the power of AI to drive innovation across the province, creating jobs and economic growth.
Today, the Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced that businesses and not-for-profit organizations will be able to apply for funding from the new Regional Artificial Intelligence Initiative in British Columbia beginning November 18. In British Columbia, PacifiCan will deliver the RAII with $32.2 million, making investments that help businesses commercialize and adopt AI technologies.
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 (RDAs) to deliver the Regional Artificial Intelligence Initiative (RAII) to help businesses bring new AI technologies to market and speed up AI adoption across the country.
In British Columbia, PacifiCan will prioritize projects that not only have strong economic benefits but also bring positive outcomes for human health, the environment, and/or economic resilience and productivity across a wide range of sectors. PacifiCan will welcome project ideas from both businesses and not-for-profit organizations.
PacifiCan is investing in British Columbian businesses, workers and organizations to ensure they have access to the tools they need to succeed at home and compete in the global economy.
More information is available on PacifiCan’s web page: Regional Artificial Intelligence Initiative – Canada.ca
Quotes
“Amazing things are happening in AI in British Columbia. Cutting-edge companies across our province are developing and adopting AI technologies to increase productivity, drive innovation and attract investment. AI has the potential to transform industries in all regions and sectors of our country. The Government of Canada is committed to leadership in AI to ensure B.C. businesses have the resources they need to integrate this transformative technology and harness its benefits right now and for the future.”
-The Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada
“In Burnaby and throughout British Columbia, our innovation ecosystem is thriving. With support from PacifiCan’s Regional AI Initiative, we’re equipping local businesses with the tools to harness transformative AI technology, positioning our province and city as a leader in this field and paving the way for sustainable economic growth and job creation.”
-The Honourable Terry Beech, Minister of Citizens’ Services and Member of Parliament for Burnaby North – Seymour
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.Budget 2024 announced a $2.4 billion package to secure Canada’s AI advantage.Over the next five years, PacifiCan will deliver the RAII in BC with $32.2 million.Through the Pan-Canadian Artificial Intelligence Strategy, the Government of Canada is investing to drive the adoption of AI across Canada.
Associated Links:
Pacific Economic Development Canada – Canada.caSecuring Canada’s AI advantageBudget 2024Pan-Canadian Artificial Intelligence Strategy
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SOURCE Pacific Economic Development Canada
