Is $6.8M in AI funding boosting Alberta’s tech scene?

The Government of Canada has unveiled $6.8 million in funding to support AI development, announced during the opening of Upper Bound, Edmonton’s largest AI conference. Minister Eleanor Olszewski highlighted the event as a testament to Alberta’s leadership in AI. The funding is part of the RAII, a $200-million federal initiative aimed at helping small and medium-sized businesses integrate and expand AI technologies. The University of Alberta has been granted $3 million in non-repayable funding for its Canadian AI Compute Vault (CAICV). Additionally, four other Alberta-affiliated organizations have received repayable awards ranging from $500,000 to $1.3 million.