Union Budget 2023: India To Establish 3 Centers of Excellence for AI Development in India

SUMMARY

This budget proposes a series of measures to unleash the potential of our economy: Nirmala Sitharaman

Sitharaman said that leading industry players will partner with these centres in conducting interdisciplinary research, develop cutting-edge applications, and scalable problem solutions

The development comes amid a significant development made in the AI and other emerging technology spaces in the country

India is set to establish three Centers of Excellence for artificial intelligence (AI), which will be set up in top educational institutions for realising the vision of make AI in India, announced finance minister Nirmala Sitharaman during the Union Budget 2023 on Wednesday (February 1).

“This budget proposes a series of measures to unleash the potential of our economy… for realising the vision of make AI in India and make AI work for India, three Centers of Excellence for artificial intelligence will be set up,” said Sitharaman.

Sitharaman said that leading industry players will partner with these centres in conducting interdisciplinary research, develop cutting-edge applications, and scalable problem solutions in the areas of agriculture, health, and sustainable cities.

“This will galvanize an effective AI ecosystem and nurture quality human resources in the field,” Sitharaman said.

The development comes amid a significant development made in the AI and other emerging technology spaces in the country, backed by various government incentives in the past few years.

As per a PwC Research report, AI-driven innovations have the potential to create economic value to the tune of $15.7 Tn globally in 2030.