Canadian Prime Minister Justin Trudeau has unveiled a C$2.4 billion investment to bolster the country's AI sector.

The funding includes C$2 billion dedicated to enhancing computing capabilities through a new AI Compute Access Fund and a Canadian AI Sovereign Compute Strategy.

An additional C$405 million is earmarked to support AI startups, sector AI adoption, the establishment of a Canadian AI Safety Institute, aid for workers affected by AI, and the enforcement of the proposed AIDA.

This initiative aims to preserve Canada's leading position in AI technology and tackle issues related to the access and affordability of AI computing resources.

More details on these measures are expected to be revealed in the 2024 budget, as the government recognizes AI's significant economic potential.

The announcement aligns with international moves to fund and regulate AI, including recent UN and EU resolutions for safe and ethical AI, and corresponds with Canada's ongoing legislative efforts with Bill C-27.