BDC Launches $500M Program to Boost SME Adoption of AI

Montreal, QC – Canadian small and medium-sized enterprises (SMEs) are missing out on the benefits of artificial intelligence (AI), with current adoption rates significantly lower than those of more advanced businesses. While only 30% of Canadian SMEs used AI in 2025, those businesses reported 24% higher productivity. To address this gap, the Business Development Bank of Canada (BDC) has launched its new LIFT initiative, a $500 million program aimed at assisting over 1,000 SMEs in adopting AI.

The LIFT program, an acronym for "Lead with Innovation and Focus on Technology," is designed to remove barriers to AI adoption. It connects eligible business owners with expert AI advisors and offers flexible financing to facilitate their AI journey. The initiative targets a broad range of entrepreneurs, from those new to AI to those ready to implement advanced solutions.

BDC also intends for this program to bolster Canada's domestic technology companies and reduce reliance on foreign technologies. LIFT prioritizes Canadian-developed AI tools and equipment, offering incentives for the adoption of local solutions with guidance from Canadian AI experts.

"We hear it all the time: SMEs are stretched thin and finding time for AI is a real challenge. But their competition isn’t waiting. Companies using AI are more productive—and LIFT gets SMEs started fast by removing the barriers and delivering practical, real world results," said Isabelle Hudon, President and CEO of BDC.