India Invests Big in Artificial Intelligence Future
India is making a huge investment in artificial intelligence (AI). Specifically, the country plans to invest $1.2 billion in AI projects. This move shows India’s aim to be a major force in the growing AI field.
The funds will be used for two main purposes. First, they will help set up computing systems for AI. Second, the money will help finance startups working on AI. This investment is expected to boost India’s AI industry and position the country as a leader in shaping AI’s future globally.
Rajeev Chandrasekhar, a junior minister, highlighted the importance of this investment. He said, “It will catalyze India’s AI ecosystem and position it as a force shaping the future of AI for India and the world.”
Estimates by Nasscom, a local IT industry group, suggest India’s emerging AI market will be worth $17 billion by 2027. However, this is a tiny portion of the global AI software market. A US research firm, Gartner, predicts the global market could reach $297 billion by the same year.
India’s vast software services industry was built during the global outsourcing boom in the 1990s. While AI software presents opportunities, it threatens traditional coding jobs and call center roles. AI models could make some of these jobs obsolete.
Moreover, OpenAI’s chief executive, Sam Altman, warned Indian entrepreneurs and companies last year. He said they might struggle to build AI products without major financial support. This underscores the significance of India’s investment in boosting its AI capabilities.
As the world’s most populous country, India’s move into AI carries great weight. With this substantial investment, India aims to develop its AI ecosystem, foster innovation, and emerge as a global force shaping AI’s future.
