The artificial intelligence revolution is happening. And Canada wants to ensure they are on the leading edge.
What’s happening:
- The Canadian government has announced a new funding plan to put $2.4B CAD into accelerating artificial intelligence
- The new funding will go towards securing computing power both for artificial intelligence focused startups and for researchers
Why it matters:
- Canada is one of the leading countries globally for incubating new startups in both artificial intelligence and quantum computing
By the numbers:
- The Canadian government has also announced an additional $405M CAD in funding that will go towards helping startups building new applications for artificial intelligence commercialize their technology
- $200M CAD of that funding will be dedicated exclusively to helping companies in agriculture, healthcare and manufacturing begin to adopt artificial intelligence to accelerate innovation
Going deeper:
- The new funding from the Canadian government is aiming to ensure that researchers focused on artificial intelligence within Canada have the same accessibility to computing power as for profit startups
- The race for securing computing power for artificial intelligence workloads has led to a flurry of new venture capital funding for hardware manufacturers, chip makers, the construction of new data centres and even Bitcoin mining companies rapidly acquiring GPUs
