ARTIFICIAL INTELLIGENCE RESEARCH GETS A BIG FINANCIAL BOOST

Mar 30, 2017

By Michael Kramer

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The federal and Ontario governments are teaming-up to invest approximately $100 million – in a new artificial intelligence institute in Toronto.

The Vector Institute opened today – and will specialize in machine learning and deep learning – which uses software and algorithms – to simulate the neural circuits of the human brain.

Ottawa is putting up to $50 million – while Ontario is kicking-in $50 million – while more than 30 private-sector companies are set to invest $80 million.

The announcement follows Finance Minister Bill Morneau unveiling a budget with a focus on innovation – including $125 million to launch a new artificial intelligence strategy.

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