Scotiabank is donating $750,000 to the University of Ottawa to launch the Scotiabank AI & Society Initiative.
The initiative will focus on two research projects. The first project will support research focused on design ethics and inclusive AI systems. The second project will explore global AI regulations and how they might impact Canadian policies.
Scotiabank says its investment will support experiential learning for students as they learn to use artificial intelligence to transform life.
“As we shift more and more of our social decision-making to intelligent algorithms, it is vital that we also critically assess the implications of these tools to ensure that they are designed and managed for the benefit of all,” said Jacques Fremont, the president and vice-chancellor of the University of Ottawa, in a press release.
The initiative aims to help identify solutions to essential issues related to ethical AI and technology development.