Federal government launches programs to help small and medium-sized enterprises adopt and adapt artificial intelligence solutions
The federal government is launching two new programs to help small and medium-sized businesses (SMEs) adopt and adapt artificial intelligence (AI) solutions.
The AI Adoption Program will help SMEs adopt AI technologies by providing funding and mentorship support. The program is providing a total of $20 million in non-repayable contributions to Canadian SMEs over three years.
The AI Adaptation Program will help SMEs develop and adapt AI technologies to their specific business needs. The program is providing a total of $10 million in funding over three years to Canadian SMEs.
The programs are part of the government’s Innovation and Skills Plan, which is a $950 million investment over five years to help businesses innovate and grow.
AI Adoption Program
The AI Adoption Program is designed to help SMEs adopt AI technologies by providing funding and mentorship support.
The program will provide:
- Non-repayable contributions of up to $100,000 to SMEs to help them adopt AI technologies.
- Mentorship support from experienced AI experts to help SMEs develop and implement AI solutions.
The program is open to SMEs of all sizes and sectors. Applicants must be able to demonstrate a clear need for AI and how it will help them grow their business.
AI Adaptation Program
The AI Adaptation Program is designed to help SMEs develop and adapt AI technologies to their specific business needs.
The program will provide:
- Funding of up to $100,000 to SMEs to develop and adapt AI technologies.
- Access to AI expertise and resources to help SMEs develop and implement their AI solutions.
The program is open to SMEs of all sizes and sectors. Applicants must be able to demonstrate a clear need for AI and how it will help them grow their business.
How to apply
Applications for both programs will open in the fall of 2023. For more information, please visit the Innovation Canada website: www.ic.gc.ca/eic/site/icgc.nsf/eng/h_06150.html
Benefits of AI for SMEs
AI can help SMEs in a number of ways, including:
- Automating tasks to save time and money.
- Improving decision-making by providing data-driven insights.
- Developing new products and services that meet the needs of customers.
- Increasing sales and marketing effectiveness.
Conclusion
The federal government’s new AI Adoption and Adaptation Programs will help SMEs adopt and adapt AI technologies to grow their businesses. These programs will provide funding, mentorship support, and access to AI expertise and resources.
If you are an SME interested in adopting or adapting AI, I encourage you to apply for these programs.
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