Connect with us

Hi, what are you looking for?

Friday, May 9, 2025
Mugglehead Investment Magazine
Alternative investment news based in Vancouver, B.C.
Eight AI firms sign onto voluntary code of conduct for AI
Eight AI firms sign onto voluntary code of conduct for AI
Innovation, Science and Industry Minister François-Philippe Champagne. Photo from Andrew Vaughan.

AI and Autonomy

Eight AI firms sign onto voluntary code of conduct for AI

The government has committed CAD$2.4 billion in its 2024 budget to help secure Canada’s AI advantage

Canada has taken another significant step towards the development of a responsible artificial intelligence ecosystem.

François-Philippe Champagne, Minister of Innovation, Science and Industry, announced on Monday that eight organizations have made the commitment to a voluntary code of conduct for advanced generative AI systems.

The code is based on input received from a cross-section of stakeholders through these engagements and the consultation on developing a Canadian code of practice. The government has committed CAD$2.4 billion in its 2024 budget to help with artificial intelligence. Measures include investing in compute capacity and infrastructure, accelerating responsible and safe adoption and deployment, as well as supporting workers through skills training.

The companies involved include Alloprof, Kyndryl Holdings (NYSE: KD), Lenovo, Levio, MaRS Discovery District, Mastercard (NYSE: MA), Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ), and Salesforce (NYSE: CRM).

These organizations have pledged to apply it to their operations when developing and managing advanced generative AI systems. They join 22 other signatories committed to supporting the ongoing development of a robust, responsible AI ecosystem in Canada. Additionally, Canada remains actively engaged in domestic and international discussions to create common standards and safeguards for generative AI systems.

“Artificial intelligence is one of the greatest technological transformations of our age, and our government is committed to providing Canadians and Canadian businesses with the tools they need to thrive in this digital era,” said Minister Champagne.

Read more: Verses announces Genius public beta preview and webinar June 20

Read more: Verses AI onboards chief product officer in push for AI product Genius

Government of Canada looking to curtail detrimental use of AI

Originally launched in 2023 as a response to industry issues surrounding potential irresponsible uses for artificial intelligence, the Voluntary Code of Conduct on the Responsible Development and Management of Advanced Generative AI Systems is the Canadian government’s attempt to get out in front of the issue before it gets out of control.

Its predecessor is the proposed Artificial Intelligence and Data Act (AIDA), which was introduced in June 2022 as part of Bill C-27. AIDA aims to promote the responsible design, development, and use of artificial intelligence systems in Canada’s private sector, particularly those that could theoretically cause harms to health, safety and human rights.

Since introducing Bill C-27, the government has actively engaged with stakeholders on AIDA and will continue to seek advice from Canadians, experts—including the government’s Advisory Council on Artificial Intelligence—and international partners on the novel challenges posed by these emerging technologies. Adopted at second reading in the House of Commons in April 2023, Bill C-27 is currently under review by the House of Commons Standing Committee on Industry and Technology.

Canadian-based AI programs stand to benefit significantly from the new Voluntary Code of Conduct and the proposed Artificial Intelligence and Data Act.

These include Verses AI Inc (CBOE: VERS) (OTCQB: VRSSF), which can leverage these frameworks to ensure its cutting-edge technologies align with responsible and ethical standards. Furthermore, AI research and innovation company, The Vector Institute, will find the guidelines beneficial in maintaining high-impact, safe AI practices. Additionally, Scale AI, a supercluster dedicated to advancing AI-driven supply chains, can use the code and AIDA’s provisions to foster responsible AI adoption and development.

 

Verses AI is a sponsor of Mugglehead news coverage

.

Follow Mugglehead on X

Like Mugglehead on Facebook

Follow Joseph Morton on X

joseph@mugglehead.com

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Bitcoin

This is part of a growing trend where Bitcoin miners are finding alternative sources of revenue to offset the high price of Bitcoin mining

AI and Autonomy

These systems combine reasoning, memory, and autonomy to execute multi-step operations

AI and Autonomy

It has demonstrated accuracy exceeding 90%

Crypto/Blockchain

New card links crypto, web 3 and credit cards into one service