Matthew Lau, a well-known Canadian economist and author, is firing back at Ottawa’s latest strategic plans, and he’s not holding back.
A National AI Strategy: A Recipe for Disaster?
Last week, the federal government unveiled its National Artificial Intelligence Strategy, a comprehensive plan aimed at boosting Canada’s AI industry. But Lau, a vocal critic of government intervention in the tech sector, is not impressed.
“Enough with all the national strategies and plans!” Lau writes in a scathing op-ed. “The government’s new AI strategy is just another example of their ham-handed attempts to pick winners and losers in the tech sector.”
Forest Sector Action Plan: A Case of Over-Promising?
Lau’s criticism doesn’t stop there. He’s also taken aim at the Forest Sector Action Plan, a $1.4 billion initiative aimed at boosting the forestry industry. According to Lau, this plan is just another example of the government’s tendency to over-promise and under-deliver.
A key component of the plan is a proposed investment of $150 million in a new forestry innovation hub. Lau argues that this investment is a waste of taxpayer dollars, citing the government’s dismal track record of successful business partnerships.
Take the case of the government’s failed investment in the now-defunct Bombardier rail project, which saw taxpayers shell out hundreds of millions of dollars only to end up with a worthless asset. Lau warns that a similar fate awaits the forestry innovation hub.
What this means
So what does this mean for ordinary Canadians? Lau’s criticism highlights the risks of government intervention in the tech sector. By trying to pick winners and losers, the government can stifle innovation and drive investment away from the very industries they’re trying to help.
In the case of the AI strategy, this could mean that private sector investment in AI research and development dries up, leaving Canadian companies at a disadvantage compared to their international competitors.
It’s time for Ottawa to rethink its approach to economic development. Rather than trying to pick winners and losers, the government should focus on creating a business-friendly environment that allows entrepreneurs and innovators to thrive.
As Lau so eloquently puts it: “Let the free market do its thing, and Canada will be just fine.”
