03:39:27 EDT Sun 05 May 2024
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Meta CDR (CAD Hedged)
Symbol META
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Close 2024-04-22 C$ 27.03
Market Cap C$ 178,398,000
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NP says Microsoft, rivals hear help for AI on the way

2024-04-22 08:34 ET - In the News

See In the News (C-MSFT) Microsoft CDR (CAD Hedged)

The National Post reports in its Monday edition that Ottawa is worried enough about artificial intelligence to set aside $50-million for skills retraining for workers. The Post's Anja Karadeglija writes that the federal budget released pledged to invest $2.3-billion in technology and the AI industry in Canada. Alongside this, $50-million will be allocated over four years to support workers who may be impacted by AI. The Sectoral Workforce Solutions Program will provide new skills training to workers in disrupted sectors and communities. The transformation of the economy and society through AI is imminent, and some jobs will be lost while others will be created. Therefore, there will be a transition period which could be chaotic. University of Waterloo associate professor of economics Joel Blit says, "There is a significant transformation of the economy and society on the horizon around artificial intelligence." The widespread availability of systems like Microsoft-backed ChatGPT made those fears real for many, even as workers across industries began integrating the technology into their workday. Last year, Finance Minister Chrystia Freeland warned the impact of generative AI "will be felt across all industries."

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