Contribution in Coveo Solutions Inc. will generate significant research and development opportunities in Canada
Artificial intelligence (AI) is one of the greatest technological transformations of our time, enabling economic development and productivity enhancements, as well as new opportunities for workers in various sectors. The federal government is committed to driving the safe, ethical and responsible development and adoption of AI across Canada's economy and society.
Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced a contribution of $15.2 million through the Strategic Investment Fund to support Coveo Solutions Inc.'s (Coveo) project to enhance its platform with new, cutting-edge AI technology. Coveo's $100 million project will enhance the Coveo Platform with generative AI capabilities and other innovations, allowing enterprises to efficiently develop and deploy AI solutions that will provide personalized user experiences to customers and employees. This project, which aims to build new and exciting AI tools, encourages investment in technical AI resources in Canada. It also allows the opportunity to work closely with Canadian universities and research institutes and keep talented people working in Canada. The project fits with Canada's national plan to be a leader in AI.
The government is committed to maintaining Canada's leadership in AI, with the goal of creating long ‑term economic growth and high-quality job opportunities. This contribution is expected to create and maintain 590 highly skilled jobs, demonstrating the tangible benefits of supporting AI innovation in Canada. Additionally, the project will foster collaboration between Coveo and Canadian research institutes and universities, further strengthening the country's AI ecosystem through joint research and development activities.
