Artificial intelligence (AI) is a powerful tool that has the potential to transform the economy across all industries in Canada. It holds tremendous economic potential in terms of commercialization, innovation, productivity and competitiveness, and has the potential to generate a range of social and environmental benefits for Canadians. The global race to scale up and adopt AI is on, and Canada is at the forefront of this technology. As part of Budget 2024, the Government of Canada has allocated $200 million to Canada’s regional development agencies (RDAs) to help bring new AI technologies to market and help accelerate AI adoption in critical sectors such as such as agriculture, health sciences, manufacturing, mining supply and service and forestry.
The Regional Artificial Intelligence Initiative (RAII) will help bridge the gap between cutting-edge AI research and broader marketplace consumption with support spanning two pillars:
- AI productization and commercialization – Support AI scale-ups address common challenges on their journey from lab prototypes to real-world applications, including securing growth capital, talent acquisition, data management, and navigating regulatory and business conduct frameworks.
- Adoption of AI applications – Support will address AI adoption lag among small and medium-sized enterprises. Support will focus on addressing challenges, such as skills gaps, AI integration complexities, and compliance with regulatory and industry standards.
