“Three centres of excellence for artificial intelligence will be set up in top educational institutions. Leading industry players will partner in conducting interdisciplinary research, developing cutting edge applications and scalable problem solutions in the areas of agriculture, health, sustainable cities,” she said.
Sitharaman said that a total of 100 labs will be set up in engineering institutions in collaboration with various authorities, regulators, banks and other business for developing applications using 5G services. “To realise the new range of opportunities, business models and employment potential, the labs will cover, among others, applications such as smart classrooms, precision farming, intelligent transport systems and healthcare applications,” she said.
Dr. Mohit Batra, Founder and CEO, MarketsMojo informed, “The Union Budget for this year has been well received by the market and investors alike, delivering a much-needed appreciation of the potential of Artificial Intelligence (AI). As pioneers of AI-driven advisory in the equity space, we are excited to witness the nationwide revolution of AI being ushered in by these new budgetary changes. AI has the potential to revolutionize the investor experience and bring about increased efficiency by optimizing investment decisions. Putting a greater emphasis on investing in technology, this budget is certainly future-proof and reflective of the value AI can bring to India. We at our AI-focused firm are highly optimistic about the opportunities that lie ahead with AI taking center stage.”