Canada's Business Development Bank launches $500-million AI adoption program for small businesses. The LIFT initiative will provide loans between $25,000 and $5 million to help 1,000 SMEs integrate artificial intelligence into their operations. The program pairs businesses with consultants to identify where AI can boost productivity, then finances the implementation. Companies choosing Canadian AI solutions receive preferential interest rates of 2.25 percent. Currently only 30 percent of Canadian SMEs use AI, but those that do report 24 percent higher productivity. BDC estimates that closing this AI adoption gap could increase Canada's GDP by up to 14 percent, addressing growing competitive pressures facing smaller enterprises.
