Doug Schweitzer, the Minister of Jobs, Economy and Innovation (photo courtesy of the Alberta GOvernment)

By Liam Verster

Innovation and Growth Strategy

Alberta’s Innovation and Growth Strategy focuses on investing in AI and technology sector

Sep 27, 2020 | 6:00 AM

The Alberta Government rolled out the first stages of it’s Innovation and Growth Strategy (IGS) last week, with the key focus being on Invest Alberta, and investments into the artificial intelligence and machine learning sectors.

Minister of Jobs, Economy, and Innovation, Doug Schweitzer, says the one of the first stages of the IGS is to ensure they create a competitive environment that helps high-growth companies establish themselves in the province. He says the government is just beginning to scratch the surface of the potential for companies to develop and commercialize technologies in Alberta, and this week the province announced that $9-billion in funding will go towards AMII, an artificial intelligence and machine learning research institute, to help that sector make a name for itself.

Schweitzer says the AI industry is one a lot of Albertan’s don’t know about.

“We actually have some of the highest trained individuals in this space, in the entire world. We have some of the highest recognized advanced education institutions on this one topic alone, and this is going to be a trillion-dollar business worldwide, once it fully develops. So we have to make sure that the people that are doing this research and development in our post-secondary institutions commercialize their products.”

He adds that work is underway to change the policies surrounding intellectual property, to make it easier to take the technologies developed in these institutions, and invest and commercialize them in order to grow into new businesses and companies.

Seasonal Sorrow

How Do You Get Through The Holidays When You're Grieving?

Nov 01, 2024

Upcoming Events at Oliver's

Grief & Loss and Estate Planning Seminars

Oct 02, 2024

Local History

Oliver's Funeral Home - 109 years of Service

Sep 04, 2024

Schweitzer says there is a lot of strength in what he calls the “traditional economy,” which is comprised on energy, agriculture and forestry sectors, and that foundation can and should be built on.

“We need that traditional economy to grow and thrive, but there’s also a huge emerging economy as well when it comes to technology, and that’s another area where Alberta can improve, and make sure that we’re there to compete going forward as well.”

Schweitzer points to ordering food through apps and products through Amazon as innovation in technology that everybody uses, and that more and more technology will be used by businesses in the future. He says by making sure Alberta is there to compete in that sector will help all those other businesses that rely on technological advancements for everything from deliveries to inventory to providing their services.

Schweitzer says plans are in the works to invest in training opportunities and focuses efforts from post-secondary institutions designed to get young people into these fields, and help grow the technology sector in Alberta.

Schweitzer says IGS also has plans involving Invest Alberta, a new Crown Corporation dedicated to attracting investment to the province. Invest Alberta will work with the business community and those looking to invest in the province to help close transactions, and bring these organizations into Alberta.

“It’s really important that we attract investment into Alberta, that’s going to create jobs and opportunities here for people for years to come. So Invest Alberta’s there as a tool to work alongside our business community here to bring in investment into the province.”