Indian Economy News

Google announces US$ 8 million funding for India’s AI Centers of Excellence

Google's announcement of its intention to provide Rs. 72.4 crore (US$ 8 million) in funding for India's AI Centres of Excellence confirms Google's ongoing support for building AI-related R&D capacity and capabilities in India, as per the article. The funding will be allocated to support programs across India that develop AI Research Capabilities, build an AI Talent Pipeline, and promote the use of AI within multiple sectors, including agriculture, health care, education, and the environment. This funding will be administered by Google's AI for India initiative and partner organisations within the larger Indian AI Ecosystem.
As a part of the announcement, Google reiterated its commitment to promoting the responsible use and development of Artificial Intelligence (AI). It specifically pointed out how it will provide research and development frameworks to assist in addressing ethical, privacy, and social considerations associated with developments in AI. The project is designed to support researchers, students, and new businesses in their pursuit of training and guidance to develop and implement new AI-based concepts, which will serve to increase India's position as a World Center of AI Innovation. Furthermore, due to the increase in AI adoption rates within a variety of industries, it is expected that greater collaboration will be achieved through partnerships between technology companies, academic institutions, and government agencies. In general, the funding provided by Google will help to accelerate AI Research, create opportunities for innovators, and enhance India's influence in a global marketplace for AI.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.