In a significant move to bolster India’s position as a global leader in artificial intelligence. The Interim Budget of 2024-25 has three AI centres allocated 30.91M USD (INR 255 Cr).
The establishment of these Artificial Intelligence Centres of Excellence (CoE) are pivotal to the ‘Make AI for India’ and ‘Make AI Work for India’ initiatives.
These aim to foster business partnerships, support AI training & generate a skilled AI workforce. It also underscores the nation’s commitment to driving innovation & advancing AI technologies.
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Subscribe to our LinkedIn NewsletterWhat are AI Centres of Excellence?
Artificial Intelligence Centres of Excellence (CoEs) are specialised institutions. Designed to drive the development, adoption & implementation of AI technologies.
These serve as hubs for innovation, research, training & collaboration. Aiming to accelerate the growth & integration of AI across various sectors.
The table below gives an in-depth look at it.
1.Purpose and Objectives | -Innovation and Research -Skill Development and Training -Business Partnerships Support for Startups and -Entrepreneurs -Policy and Standardisation |
2.Key Functions | -Research and Development -Educational Programs -Collaboration and Networking -Incubation and Acceleration -Ethical AI and Governance |
3.Impact on Industry and Society | -Economic Growth -Enhanced Capabilities -Workforce Development -Global Competitiveness -Societal Benefits |
4.Examples of AI Centres of Excellence | -Stanford AI Lab & MIT’s Computer Science & Artificial Intelligence Laboratory (CSAIL) in the US. -Beijing Academy of Artificial Intelligence (BAAI) and the Tsinghua University AI Research Center in China. -European Lab for Learning & Intelligent Systems (ELLIS). |
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AI Centres Allocated 30.91M USD: Implications on the Indian EdTech Sector
AI Centres of Excellence are instrumental in advancing the field of artificial intelligence. These play a pivotal role in driving AI innovation and its application across various sectors. By focusing on research, training, collaboration & ethical standards.
Their contributions not only enhance tech capabilities. But also have significant economic & societal impacts.
The allocation of USD 30.91 million to establish 3 AI Centres of Excellence will transform the Indian edtech sector. These will enhance AI integration in education. Ultimately developing a skilled AI workforce alongside fostering innovation.
This investment will encourage business partnerships, improve access to quality education & drive research in AI applications for learning.
Source: Invest India.
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