TORONTO — A new institute for artificial intelligence research opened Thursday in Toronto with funding from the federal and Ontario governments and the private sector.
The Vector Institute will specialize in the fields of machine learning and deep learning, which uses software and algorithms to simulate the neural circuits of the human brain.
Ottawa is putting up to $50 million into the institute, Ontario is investing $50 million and more than 30 private-sector companies are set to invest $80 million.
The announcement comes the week after Finance Minister Bill Morneau unveiled a budget with a focus on innovation, including $125 million to launch a new artificial intelligence strategy.
Morneau said his government “is all about building the future.”
“That budget was really very much about how we can think about making a more innovative economy and how we can ensure that Canadians have the skills to be successful in that innovative economy,” he said.
“We see our budget this year as part of a…
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