A year after a researcher yelled that the $1.2 billion in public funding for artificial intelligence won’t pay off unless we can better protect intellectual property, Ottawa is adding another $39.3 million.
• Also read: The $1.2 billion in artificial intelligence may not be profitable
In February 2022, Éric N. Duhaime, a researcher at the Institute for Research in Contemporary Economics (IREC), sounded the alarm when he saw public money gobbled up, which he says is “inflating the patent portfolios of foreign companies”. .
“The danger in Quebec is being content with being a kind of R&D subcontractor for foreign companies,” he said.
Ottawa adds
However, on Monday morning, at the offices of SCALE AI, François-Philippe Champagne, Minister of Innovation, Science and Industry (ISED), announced a new aid of almost $40 million to the cluster.
SCALE AI is a publicly and privately funded cluster with a mission to “bring artificial intelligence out of the lab” to help companies with projects.
SCALE AI’s Managing Director is Julien Billot.
Co-Chair of the Board of Directors is Hélène Desmarais, Director and Philanthropist, wife of Paul Desmarais Jr., Chairman of the Board of Power Corporation.
At the federal level, SCALE AI had already received $230 million a few years ago, or a quarter of the $950 million for Canadian innovation groups.
public funds
In recent years, SCALE AI has also received more than $30 million by decree from the Quebec Ministry of Economy, Innovation and Energy (MEIE).
Pierre Fitzgibbon’s ministry granted $35 million in support by decree to IVADO LABS, which also has Hélène Desmarais at the helm of its board.
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- Remember that Quebec had invested more than $30 million in Element AI, which aimed to become a Quebec techno giant. After the sale to Service Now, Quebec was able to recover the value of its investment.