In big AI push, Cabinet clears Rs 10k cr plan to set up computing capacity.

La Excellence IAS Academy

In big AI push, Cabinet clears Rs 10k cr plan to set up computing capacity.

Current Affairs Daily Articles & Editorials

La Excellence IAS Academy | March 8, 2024 | Current Affairs



Syllabus: GS-III Subject: Current Affairs Topic: Schemes/Policies/Programmes. Issue: Artificial Intelligence

Context:

The Union Cabinet approved the India AI Mission.

  • Artificial intelligence (AI) refers to the simulation or approximation of human intelligence in machines.

India AI Mission:

  • Aim to establish the computing powers of AI within the country.
  • The government will allocate funds towards
    • Subsidising private companies looking to set up AI compute capacity in the country
    • Allocate seed funding for AI start-ups.
  • Set up the IndiaAI Innovation Research Centre and an IndiaAI Datasets Platform.
  • The implementation will be done through a public-private partnership model with 50 per cent viability gap funding.

Related Concepts:

Seed funding is the funding for a startup when it is at the seedling stage i.e., inception, ideation, or the beginning stage.

Viability gap funding: Typically offered by the government as a grant to support infrastructure projects that are economically justified but struggle to be financially viable on their own.

Source: Indian Express

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