The National Institution for Transforming India or NITI Aayog, the policy think tank of Government of India, is set to offer incentives to startups and venture funds which could work and research in the field of artificial intelligence.
Finance Minister and Minister of Corporate Affairs Arun Jaitley spoke about the Government’s plans to support artificial intelligence and machine learning technologies during the Union budget 2018 speech last week. He said, “Technologies like machine learning, artificial intelligence, Internet of Things, 3D Printing, and initiatives like Digital India, Startup India and Make in India would help in establishing itself as a digital economy.”
Jaitley had also said that that theNITI Aayog was to establish a national programme to direct efforts towards artificial intelligence, including research and development of its applications.
A senior government official told a newspaper that the financial allocation under the Atal Innovation Mission will be used to fund the programme on a nationwide scale and projects will be granted on the challenge mode. “It has just been announced.NITI Aayog has been working on the subject for a while and will be coming out with a roadmap shortly,” he added.
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The Atal Innovation Mission (AIM) and Self-Employment and Talent Utilization (SETU) is Government of India’s endeavour to promote a culture of innovation and entrepreneurship. Its objective is to serve as a platform for promotion of world-class innovation hubs, grand challenges, start-up businesses and other self-employment activities, particularly in technology driven areas.
Industry insiders are happy to see that the Modi-led BJP government is working towards supporting a tech-driven future. This year, Jaitley has also doubled the allocation on Digital India programme to ₹3,073 crore in 2018-19.
Keeping in mind the current government’s long-term plans, reports have suggested that the Modi-led BJP will strive to achieve its commitment towards Sustainable Development Goals (SDGs) with the help of AI by 2030, as it has the potential to churn out a slew of applications while keeping in mind the quality of approach.
A government official told the newspaper, “Our endeavour will be to get the best international experts associated as well as those acquainted with the applicability of AI in the Indian/developing country context.”