The Union Budget of 2023 made some big announcements for Indian businesses in Artificial Intelligence (AI). India has become one of the most promising countries for AI technology, and this budget seeks to accelerate the adoption and use of emerging technologies across different industries.
The government is looking to invest heavily in machine learning and natural language processing research, with a strong emphasis on developing indigenous solutions. With potential applications ranging from healthcare and agriculture to retail analytics, this budget could be just what India needs to take its place at the forefront of AI innovation.
The Indian government has taken steps to promote artificial intelligence (AI) by creating three “Centers of Excellence” in reputable educational institutions devoted solely to its advancement.
Yielding useful AI applications in distinct sectors, the new initiative of forming research and development centers will be driven by a three-way partnership: educational institutions, major businesses, and these facilities. Healthcare, agriculture, and safe building cities are some areas that these collaborations will aim to address.
The goal of setting up a robust AI ecosystem in India is to ensure the development of trained AI professionals. This will lead to cultivating a highly-skilled pool of potential contributors.
Finance Minister Nirmala Sitharaman, in the Union Budget 2023, articulated India’s vision to have Centres of Excellence for Artificial Intelligence by proclaiming that these centers would help realize the vision she set forth.
Finance Minister Nirmala Sitharaman says:
‘Make AI in India’
‘Make AI work for India’
“Three centers of excellence for Artificial Intelligence will be set up in top educational institutions.”
She further added:
“Leading industry players will partner 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.”
Girish Lakshminarayana, Chief Technology Officer at XYZ Company, highly values the re-emphasized importance of technology and AI. He is proud that his company embraces these groundbreaking technologies to enhance its operations.
“AI has already become a revolution. Businesses will increasingly use AI to refine consumer experience and bring efficiency to operational activities. AI-based chats and other use cases are visible prominently on digital platforms.”
“We are excited about the new transformations AI will bring and how those will encourage people to upgrade their learnings and skillsets. We see a lot of value in the focus on AI for India, as shared in the Union Budget. As an organization that ‘Makes in India’, we look forward to greater development around AI, to enable consumers at multiple levels.”
Union Budget 2023 has some big plans for artificial intelligence and its implementation in India. This move could make India a world leader in AI development and usage. However, there are still some hurdles to overcome before this can happen, such as getting more businesses on board with using AI and ensuring the general public is comfortable with it. But if these issues can be addressed, India could be at the forefront of the AI revolution.
Source: business today. in