Louisiana has launched a new Louisiana Economic Development (LED) division to lead artificial intelligence (AI) innovation, development and strategy. The initiative – called Louisiana Innovation (LA.IO) – will lead the charge on supporting tech-enabled startups and AI upgrades across the state.
A primary directive for LA.IO will be to provide financial support for prospective AI-supported businesses. To further that goal, the state will reinvest more than $100 million to advance AI development and startups. Approximately half of the $100 million will come from the Louisiana Growth Fund. The fund was simultaneously established alongside LA.IO, using $50 million in federal funding to be distributed to innovators for establishing and scaling startups across the state.
The remaining funding will come from the state’s private-sector partnerships. To date, LED is participating in seven seed capital funds and plans to incorporate more in the coming year.
One of the division’s first actions will be to develop the Louisiana Institute for Artificial Intelligence (LIAI). The institute will operate as Louisiana’s anchor for statewide AI strategy, prioritizing:
- Applied research and development.
- Commercialization.
- Workforce development.
- Policy.
To commemorate its establishment, the LIAI will upgrade approximately 5,000 small businesses with AI tools, empowering them to grow their business and enhance their market competitiveness.
