Pacific financing of over $32 million will help companies bring new technologies to market and adopt AI
BURNABY, B.C, October 28, 2024 /CNW/ – Artificial intelligence (AI) is a transformative 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 applying the power of AI to their operations – British Columbian companies are well positioned to harness the power of AI to drive innovation across the province and create jobs and economic growth.
Today, the Honorable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan) has announced that companies and non-profit organizations can apply for funding under the new Regional Artificial Intelligence Initiative in British Columbia start November 18. In British ColumbiaPacifiCan will deliver the RAII $32.2 millionby making investments that help companies commercialize and adopt AI technologies.
To guarantee that Canada continues to lead the way in innovation, according to the government of Canada is making strategic investments that will drive AI adoption across the country. This includes $200 million more than five years before Canadas regional development agencies (RDAs) to implement the Regional Artificial Intelligence Initiative (RAII) to help companies commercialize new AI technologies and accelerate AI adoption across the country.
In British ColumbiaPacifiCan will prioritize projects that not only have strong economic benefits, but also deliver positive outcomes for human health, the environment and/or economic resilience and productivity across a wide range of sectors. PacifiCan welcomes project ideas from both companies and non-profit organizations.
PacifiCan invests 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 British Columbia. Pioneering companies in our province are developing and adopting AI technologies to increase productivity, drive innovation and attract investment. AI has the potential to transform industries across all regions and sectors of our country. The government of Canada is committed to leadership in AI to ensure BC companies have the resources they need to integrate this transformative technology and realize its benefits now and for the future.”
