In an attempt to strengthen the Artificial Intelligence (AI) sector in India, Finance Minister Piyush Goyal announced on Friday that the government will soon launch a National Portal of Artificial Intelligence.
In presenting the 2019-20 Interim Budget in the Lok Sabha, Mr. Goyal added that nine priority areas have been identified for the development of the AI sector in the country.
Feeling the immense opportunity that is looming, nearly 200 emerging AI companies in India are innovating and creating AI-based solutions for various industries.
In his speech on the budget last year, Arun Jaitley had entrusted the NITI Aayog to establish the national program on artificial intelligence to guide research and development in new and emerging technologies.
NITI Aayog has identified five sectors (health, agriculture, education, smart cities, infrastructure and transport) to focus their efforts towards the implementation of artificial intelligence to meet the needs of society. The think-tank also revealed a discussion paper on a national strategy on AI that aims to guide research and development in new and emerging technologies.
“The document offers many disruptive suggestions, including one to use market models for data, annotations and deployable solutions in AI. We need to democratize the access and development of this technology, “said Amitabh Kant, CEO of NITI Aayog.
According to the latest Accenture report, AI has the potential to add $ 957 billion to India’s economy by 2035. More than 50 percent of Indian retail companies will operate in AI by 2020, PeopleStrong said, software as a service ( SaaS) Technology and human resources solutions company.