Inspir - happen to live in Lethbridge, do ya? (As do I now, and also a CJ student.)
From discussing this matter with a certain Traffic Enforcement instructor (aka, DL) - the current status of such an initiative is this.
The Alberta government is running a pilot project concerning the Alberta Sheriff's Department. As such right now, the idea is to have the ASD replace the Alberta Government's SOB in some services, such as courthouse security and prisoner transport. Even now, in Lethbridge and Chinook county courthouses, the ASD is slowly taking over the roles that were once filled primarily by the SOB. That being said, don't think of it as being significant - I believe the Alberta government is simply stripping off one uniform and replacing it with another, as the pay and benefits, and general duties, have not changed.
Also a part of the pilot project is to have the ASD maintain a dedicated traffic section, re: Highway Patrol. This is due to the sheer lack of police presence in many parts of rural Alberta, in both northern and southern Alberta. You may notice Sheriff squadcars operating near Clareshome/Nanton/Barons/Nobleford areas. (Seen two Sheriff's squadcars in the past week alone). The reason for this is because although the RCMP does a fairly good job at policing small rural communities, it does not have the manpower to patrol or provide immediate assistance to the real boonies. As I'm sure you know, Lethbridge RCMP is a fairly small detachment due to the LRPS. Nanton has its own police service (Who the hell would have thought that, I know) - and Vulcan has an RCMP detachment. That leaves communities such as Nobleford, Champion, Monarch, Barons, etc, etc. without any permanent police presence at all. The idea is to have the new ASD provide an increased police presence in these communities, due to the RCMP's manpower shortage to effectively cover these areas.
An idea also floating around about the new ASD is to have a dedicated warrant section, re: a section dedicated to serving outstanding warrants. (Don't worry, they won't be wasting their time kicking in your door for unpaid parking tickets.) Although this idea has been much discussed, not much action had been taken in regards to this. As you pointed out, the ASD is hiring like mad just to fill the boots of the positions they have open, re: courthouse security, prisoner transport, and highway patrol. So the warrant tasking is still very much an idea, although it is an idea the political leadership of Alberta (re: Cenaiko) seems to be moving towards. Between the Alberta government purchasing 50 + Impala patrol vehicles, as well as 400 + service weapons, this pilot project is definitely gaining some momentum and putting some muscle on. As to where it goes remains to be seen, although that is the current status of the new ASD pilot project and most likely where it is headed.
If you are interested in learning more, go to the Alberta government website. Under government jobs, look under law enforcement/regulatory services, and read the job description. This should give you an even better idea as to what will be expected from members, as well as providing you with a means to apply online.