The money is intended to help six Montreal-based AI companies scale and expand to new markets. It comes the day before Innovation Minister Navdeep Bains is scheduled to hold a G7 conference on AI in Montreal. (The Logic)
Talking point: Element AI has been lobbying the federal government with unmatched intensity for the past year. As The Logic reported previously, Element has lobbied more than all other AI companies combined. Today’s announcement comes with a government claim that the $5 million will create about 900 jobs and “enable Element AI to continue deploying its operations abroad, increase its participation in trade shows, hire artificial intelligence specialists, and purchase computer equipment.” That’s a bold claim, but Element is wasting no time in trying to fill those spots. The company currently has 107 job postings up for spots in Montreal, Toronto, Singapore and Seoul.