Madam Speaker, I would like to speak on the investments made in this budget for artificial intelligence, quantum technology, photonics and genomics. More importantly, I would also like to speak on investments made in the critical minerals required for batteries, which are needed for use in everything from electrical vehicles to energy storage.
The global economy is moving toward a knowledge-based economy. One of the three objectives for me when entering politics a few years back was to work to ensure that Canadian society and the economy remained robust and competitive in the global knowledge-based economy, thus securing prosperity for our children and grandchildren.
Canada is prosperous today, and Canadians enjoy a very high standard of living due to the rich natural resources. We have oil. We have gas. We have minerals, and we have forestry products. All of which have provided for our prosperity so far. The natural advantage we have today may not be enough for us in a new global knowledge-based economy. To ensure that this prosperity is also available to our children and our grandchildren, we, as a country, need to be at the forefront of the new knowledge-based economy. Hence, investments in artificial intelligence, quantum technology, photonics, genomics, and the critical minerals required for batteries become very important.
Artificial intelligence is one of the greatest technological transformations of our age. It has already started making its impact. Many times we do not even know it is making an impact, but it is already there. Canada has communities of research, homegrown talent and a diverse ecosystem of start-ups and scale-ups.
I am glad that the budget would provide about $440 million in support of a pan-Canadian artificial intelligence strategy. More importantly, it would provide $185 million to support commercialization of artificial intelligence innovation and research in Canada. Investing in research, development and innovation is important, but for me, commercialization is also important. Both have to go hand in hand. We cannot continue to perpetually invest in research without all or part of that research being commercialized. Therefore, I am glad we are making investments in commercialization of artificial intelligence innovations.
Quantum technology is at the very leading edge of science and innovation today, and it has enormous potential for commercialization. This emerging field will transform how we develop and design everything from life-saving drugs to next-generation batteries. It also will provide a great deal of cybersecurity, which we hope to achieve and see soon. I am happy to state that this budget would provide about $360 million to launch a national quantum strategy. I am sure we will hear more details of this in the coming months.
Canada is a world leader in photonics, the technology of generating and harnessing the power of light. This is the science behind fibre optics, advanced semiconductors and other cutting-edge technologies, areas in which Ottawa has also got a great number of companies involved. There is a strong history of Canadian companies bringing this expertise to the world. I am pleased that the budget would provide $90 million to the National Research Council to retool and modernize the Canadian photonics fabrication centre.
Then, there is genomics. Genomics research is developing cutting-edge therapeutics and is helping Canada to track and fight COVID-19. Canada was an early mover in advancing genomic science and is now a global leader in this field.
I will give a cost comparison on how fast and how effective this particular technology is developing. The cost to sequence a genome has fallen by millions of dollars. I think in 2001, it cost us about $100 million to sequence a genome. From that, it came down to $1 million in 2008. It fell down to about $10,000 in 2012, and today it just costs a few hundred dollars. We can see how quickly it is changing and how effective it has become. Soon we will have tailor-made medicines available for genetic diseases.
The budget provides $400 million to support pan-Canadian genomic strategies. This includes support for mission-driven programming delivered by Genome Canada to kick-start the new strategy. In the new global knowledge-based economy, the world is flat. Canadians face equal competition from different parts of the world, and we do not have the advantages our natural resources used to give us.
The competition is coming from everywhere, especially for new technology professionals and new generations of Canadians in school today. The competition is from Sydney, Australia; Seoul, South Korea; Shanghai, China; Mumbai, India; and Frankfurt, Germany. All the world is flat, and we are facing a lot of competition from all over the world.
Immediately more important is the development of batteries. Many people may not recognize today, but this is also a national security issue. If we do not develop technologies, and if we do not develop batteries, one day we will be dependent on other countries for our energy security and transportation security. Things are changing very fast.
The trillion-dollar transportation market is quickly moving toward electrification. Major auto companies have already announced phasing out internal combustion engines and transitioning to battery-operated electric vehicles. Canada has rich reserves of the critical minerals needed for electric vehicle batteries and solar panels, along with the other low-carbon technology needed to reach net-zero.
Canada and the U.S. recently agreed to strengthen the Canada-U.S. joint action plan on critical minerals collaboration to target a net-zero industrial transformation, batteries for zero emissions vehicles and renewable energy storage. Investing in these critical resources is essential for our energy security and will ensure Canada is a vital producer in the supply chain of the future.
The budget provides funding to create a critical battery minerals centre of excellence at Natural Resources Canada. The centre would coordinate federal policy and programs on critical minerals and work with other partners too. The budget provides $37 million to Natural Resources Canada for federal research and development to advance critical battery mineral processing and refining expertise.
It is not just enough for us to be part of this operation. We need to have end-to-end capability to be in the battery business. To give an example of how far the cost of batteries has fallen in the last 10 to 12 years, the cost of lithium-ion batteries has fallen from $1,100 per kilowatt hour to just about $100. Soon it will reach much less, which will make the cost of electrical vehicles comparable with that of gasoline vehicles today.
Things are changing fast. Things are approaching fast where we will all move to electrical vehicles in the very near future. The companies have already announced changes and we need to be there.