What does recently launched AI mission contain?

Economy and Finance

What does recently launched AI mission contain?

11 Mar 2024 Zinkpot 149

The government has announced AI Mission known as IndiaAI Mission with an investment worth Rs 10,372 crore. This can encourage the development of artificial intelligence (AI) in the country. The approved corpus will be used to build a high-end scalable AI ecosystem in public-private partnership mode. It can also be an integral part and one of the fundamental bases of Industry 4.0.
The AI market size in India reached more than $4.1 billion in 2023, as per insights from Statista, a market research firm. Among all the segments, machine learning (ML) had the largest share at $2.7 billion.
The IndiaAI Mission has various components, namely IndiaAI Compute Capacity, IndiaAI Innovation Centre (IAIC), IndiaAI Datasets Platform, IndiaAI Application Development Initiative, IndiaAI FutureSkills, IndiaAI Startup Financing, and Safe & Trusted AI.
Under IndiaAI Compute Capacity, AI computing infrastructure will be erected by deploying more than 10,000 Graphics Processing Units (GPUs) through strategic public-private collaborations.
IAIC will be a leading academic institution for streamlined implementation and retention of top research talent, while Datasets Platform is to ensure data-driven governance and catalyzing AI-based innovation and research.
The FutureSkills programme will expand the reach of AI education, while the Startup Financing Mechanism will faciilitate streamlined access to funding of budding artificial intelligence startups.
The financial outlay on the IndiaAI Mission will be made over the next five years. Also, the outlay will ensure a structured implementation of the IndiaAI Mission through a public-private partnership model.
AI is expected to have been responsible for changes in the technology sector where it can greatly improve productivity through process simplification and automation. Read more on Artifical Intelligence here
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