Finance Minister Nirmala Sitharaman on February 1 proposed setting up a high-powered committee to recommend measures focused on the services sector, in a major boost to India's artificial intelligence ambitions, ahead of the much-anticipated India AI Impact Summit scheduled to be held in a couple of weeks.
In her budget speech, Sitharaman said, “I propose to set a high-powered education to employment and enterprise innovation standing committee to recommend measures that focus on the services sector.”
She added that this measure will make India a global leader in services with a 10% global share by 2047.
While beginning her speech in the Parliament, Sitharaman said cutting-edge technologies, including AI, can serve as growth multipliers.
She added that new technologies are enhancing production, but at the same time, increasing demand for water and energy sharply.
This development comes after the Centre in last year's budget announced a slew of initiatives targeted at the AI ecosystem, including the setting up of a Centre of Excellence on AI in the education sector.
Apart from budget announcements, the government has also working on various layers of the AI ecosystem, including developing models, making computing accessible for startups and researchers and so on.
Recently, IT minister Ashwini Vaishnaw said that India has already received $70 billion AI investment, and that it expects that figure to double by the end of of the India AI Impact Summit, scheduled to held from February 16-20.
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