Burnaby, British Columbia – October 28, 2024 – The Government of Canada has pledged a significant investment of $32.2 million to develop the artificial intelligence sector in British Columbia under the Regional Artificial Intelligence Initiative (RAII). This initiative will be managed by PacifiCan and starting from November 18, applications are open to both businesses and nonprofits.
“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,” announced the Honourable Harjit S. Sajjan, Minister responsible for PacifiCan.
This initiative is part of Canada’s broader $200 million commitment pledged over the next five years in support of the regional development of AI, concentrating on assisting enterprises commercialize and implement AI technologies.
“In Burnaby and throughout British Columbia, our innovation ecosystem is thriving,” stated the Honourable Terry Beech, Minister of Citizens’ Services.
The funding gives priority to projects that offer strong economic benefits while positively impacting environmental sustainability, human health, and economic resilience. This initiative is related to the $2.4 billion package provided in the 2024 Budget that is aimed at maintaining Canada’s competitiveness in AI technology.
The Program is indeed a major milestone in the efforts to position British Columbia further in the world of artificial intelligence and helps local companies and institutions use AI for growth and innovation in a sustainable way.
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