Prime Minister Mark Carney says the federal government will invest up to $1.6 billion in Toronto-based artificial intelligence company Cohere, saying the company’s work towards “sovereign AI” will help strengthen Canada’s economy and national security.
Carney announced the planned equity investment on Oct. 29 in Montreal, saying that developing Canadian AI systems could give businesses and governments more control over their data and reduce reliance on foreign technology providers.
“We are not waiting for the future of AI to be decided somewhere else by those we don’t know, or by whom we don’t trust,” Carney said. “We’re building it right here in the right way.” …