On July 31, Communitech and the Accelerator Centre hosted 22 Canadian tech leaders and policymakers for a roundtable discussion on the AI Compute Access Fund announced in the 2024 federal budget. The $2 billion CAD fund was proposed to improve computational resources for artificial intelligence (AI) researchers and startups, maintaining the nation's competitive edge in the sector. This investment is part of a broader $2.4 billion CAD initiative, including funding for AI startups, skills training and establishing a Canadian AI Safety Institute.?
The roundtable highlighted the challenges and opportunities facing Canada’s AI sector and the critical need to bring government and industry leaders together to advance Canadian technology leadership.
Communitech CEO Chris Albinson moderated the discussion, which brought officials from the Ministry of Innovation, Science, and Economic Development (ISED) to provide insights into the proposed budget and get feedback from Waterloo Region tech leaders.
The conversation covered several challenges for Canadian tech companies, most notably the commercialization and adoption of AI technologies across public and private sectors. Attendees pointed out that many of these challenges are being faced by companies worldwide, and there are opportunities for Canadian tech and government leaders to learn from both successes and mistakes.
Like many other nations, Canada could soon see AI consume a significant portion of its compute power. One CEO estimated that 40 to 50 per cent of the country's compute power will be used for AI in the next three to four years. Other participants echoed this concern, calling for strategic investments to ensure Canada’s AI infrastructure can meet future demands, especially as Canadian advancements continue in quantum computing.
While there is a growing demand for compute resources, many of the leaders agreed there is a strong need for support to improve AI adoption across the public and private sectors. The conversation also touched on the importance of talent development and education in AI and supporting Canadian-based AI companies in keeping talent here.
One key challenge is overcoming the preference for solutions from hyper scalers, which some leaders say can appear less risky and more cost-effective. Canadian-made solutions offer many advantages, including meeting data residency requirements and ever-evolving privacy legislation.
Other leaders stressed the importance of educating the next generation of AI leaders and entrepreneurs at the highest levels across all sectors. Many of today’s AI leaders have graduated from Canadian post-secondary institutions like the University of Waterloo, the University of Toronto and McGill University, but the attendees pointed out that there are opportunities to start AI education even earlier.
Public-private partnerships like the one recently announced by the University of Waterloo and Xanadu AI were given as examples of ways Canada can build an AI-ready workforce. The project focuses on developing educational programming and short modules on quantum computing to equip students with hands-on experience and support their growth through research projects and internship opportunities.
The Tech for Good movement and the Communitech Good AI initiative also provide Canadian tech companies with an advantage in the adoption and commercialization of AI technologies. These frameworks emphasize ethical AI development and deployment, ensuring that AI solutions are designed to benefit society and minimize harm. This ethical focus not only builds public trust in AI but also positions Canadian AI companies as leaders in responsible innovation, which is increasingly important in global markets.
As the discussion concluded, the consensus was clear: Canada has the potential to lead in AI, but it must strategically invest in computational resources, talent development and the commercialization and adoption of AI technologies.
