The Canadian government says it has plans to invest $6.3 million CAD into six artificial intelligence (AI) related businesses in the greater Montreal, Quebec area.
Of the $6.3 million, $5 million is being loaned to the Element AI, with the condition that the money must be repaid at some point. The funding is expected to help the company build a better presence at trade shows and hire an additional 900 employees.
Across these five companies, the investment is expected to create 77 jobs.
Source: The Government of Canada