Monday, Apr 29 2024 | Time 04:00 Hrs(IST)
image
Business EconomyPosted at: Mar 7 2024 8:11PM


Cabinet approves Budget Outlay of Rs 10,371 cr for development of AI

New Delhi, Mar 7 (UNI) Eying a big share in the development of artificial intelligence (AI), the government on Thursday approved a comprehensive national-level India AI mission with an outlay of over 10,300 crore to set up an ecosystem catalyzing AI innovations through strategic programs and partnerships across the public and private sectors.
This was approved in a meeting of the Union Cabinet chaired by Prime Minister Narandra Modi.
In furtherance of the vision of Making AI in India and Making AI Work for India, the Cabinet chaired by the Prime Minister has approved the comprehensive national-level IndiaAI mission with a budget outlay of Rs. 10,371.92 crore, an official statement said.
The IndiaAI mission will establish a comprehensive ecosystem catalyzing AI innovation through strategic programs and partnerships across the public and private sectors. By democratizing computing access, improving data quality, developing indigenous AI capabilities, attracting top AI talent, enabling industry collaboration, providing startup risk capital, ensuring socially impactful AI projects, and bolstering ethical AI, it will drive responsible, inclusive growth of India's AI ecosystem.
The mission will be implemented by ‘IndiaAI’ Independent Business Division (IBD) under Digital India Corporation (DIC) and has the following components:.
One, IndiaAI Compute Capacity: The IndiaAI compute pillar will build a high-end, scalable AI computing ecosystem to cater to the increasing demands from India’s rapidly expanding AI start-ups and research ecosystem.
The ecosystem will comprise an AI compute infrastructure of 10,000 or more Graphics Processing Units (GPUs), built through a public-private partnership. Further, an AI marketplace will be designed to offer AI as a service and pre-trained models to AI innovators. It will act as a one-stop solution for resources critical for AI innovation.
Two, IndiaAI Innovation Centre: The IndiaAI Innovation Centre will undertake the development and deployment of indigenous large multimodal models (LMMs) and domain-specific foundational models in critical sectors.
Three, IndiaAI Datasets Platform: The IndiaAI Datasets Platform will streamline access to quality non-personal datasets for AI innovation. A unified data platform will be developed to provide a one-stop solution for seamless access to non-personal datasets for Indian startups and researchers.
More UNI SKB GNK
Please log in to get detailed story.
Tags: #Cabinet approves Budget Outlay of Rs 10#371 cr for development of AI
More News
IDFC First Bank Q4 net profit plunges 10 pc to Rs 724 crore

IDFC First Bank Q4 net profit plunges 10 pc to Rs 724 crore

27 Apr 2024 | 11:11 PM

New Delhi, April 27 (UNI) IDFC FIRST Bank on Saturday reported 9.83% year-on-year decline in net profit for January-March quarter (Q4) of financial year 2023-24.

see more..

ICICI Bank profit in Q4 jumps 17 pc to Rs 10,707 crore

27 Apr 2024 | 9:11 PM

New Delhi, April 27 (UNI) Private lender ICICI Bank on Saturday reported 17.38% year-on-year jump in standalone net profit at Rs 10,707.53 crore for January-March quarter (Q4) of the financial year 2023-24.

see more..

Kottayam-Kochi Rubber Market Rates

27 Apr 2024 | 4:26 PM

Kottayam, April 27 (UNI) Following were the Rubber Market rates announced by the Rubber Board here today per quintal.

see more..

Horizon Industrial Parks announces ground-breaking of its 2nd logistics park in Pune

27 Apr 2024 | 1:50 PM

Pune, April 27 (UNI) Horizon Industrial Parks, a portfolio of Grade A logistics parks in India owned by Blackstone Real Estate funds, has announced the groundbreaking of its second logistics park in Pune, Chakan.

see more..
Rupee falls 2 paise against USD

Rupee falls 2 paise against USD

26 Apr 2024 | 5:28 PM

Mumbai, April 26 (UNI) The Rupee on Friday eased 2 paise to close at 83.35 against the USD on rising demand for US Dollar by bankers and importers, dealers at the Foreign exchange said.

see more..
image