The Canadian federal government will invest $39.3 million in over a dozen artificial intelligence projects across various sectors such as manufacturing, retail, and aeronautics.
The funding will be invested through Scale AI, a Montreal-based technology supercluster funded by the federal and Quebec governments.
Private investors are also participating in the latest financing round, bringing the total investment to $117 million.
15 projects will receive funds, including $9.3 million for Coveo and IVADO Labs to develop machine learning and personalization algorithms for retailers, $8.5 million for McCain Foods to reduce potato waste, and $1.5 million to optimize aircraft maintenance for Bombardier clients.
Scale AI has contributed to advancing the adoption of AI for many Canadian companies and prioritizes projects with positive impact on society.
However, some critics question the funding strategy as most of the benefits and profits will be retained by the companies and the return on investment for the community is uncertain.
Some projects may also have implications for workers' rights, which may warrant broader consultations with stakeholders before funding.