The FM’s Gift To Tech Whizzes

JUST IN CASE YOU HAVE not noticed, Artificial Intelligence (AI) has received a major thumbs up in the Union Budget for FY2023-24. Of late, AI has assumed centre stage in all technology conversations around the globe, thanks to the growing popularity of ChatGPT. The potential ChatGPT offers for breakthrough applications that could now be utilised directly by the common man surely, makes it the innovation of the hour.

With a series of measures intended to encourage innovation in AI, the Union Government is going to invest in three AI Centres of Excellence (CoE) at top educational institutions in the country. The initiative was lauded by many in industry, including Rekha M. Menon, Chairperson and Senior Managing Director, Accenture in India. She said, “The government’s intent to set up three centres of excellence (CoE) will encourage the ecosystem to ‘Make AI in India’ and ‘Make AI work for India’.”

Jagdish Mitra, Chief Strategy Officer and Head of Growth at Tech Mahindra said, “This budget, with simple steps, took on future skilling, enabling conversation around AI CoEs, 5G labs and so forth. These terminologies were unheard of in budgets and it has given them great visibility.” 

Considering that AI is expected to contribute an additional $957 billion to the Indian economy by 2035, the Union Finance Minister could scarcely have ignored its potentials. The rest is up to the bright young minds around the country!