Telangana eyes growing AI market, signs 8 MoUs with global cos, IITs

Telangana government on Thursday signed eight memoranda of understanding (MoUs) with various companies, including Intel, Nvidia and Adobe, in the field of Artificial Intelligence (AI).

The MoUs were signed in the presence of IT and Industries Minister KT Rama Rao after he declared 2020 as the 'Year of AI' at a meeting here with industry bigwigs.

Intel, Public Health Foundation of India and IIIT- Hyderabad jointly signed the agreement with the government for setting up a research centre in applied AI in healthcare and smart mobility.

IIT-Kharagpur signed an MoU to set up a centre of excellence in AI and research and development park.

The state government also signed MoUs with IIT- Hyderabad, Wadhwani AI, Hexagon and Innovation Norway.

"In line with our vision and our approach, AI will be our focus for the coming year and beyond. While we are calling 2020 as the 'Year of AI,' this event would set in motion a set of initiatives, which would potentially make the next decade as Telanganas decade of AI.

Telangana is ready to capture the global AI opportunity, the Minister said.

He asserted that the efforts in AI would take forward and add to Telanganas growth story which aims to establish Hyderabad as among the top 25 global AI innovation hubs.

Country Head, Intel India and vice-president of Data Centre Group, Intel Corp, Nivruti Rai said AI is going to create USD 13 trillion to the world economy.

Principal secretary, IT and industries, Jayesh Ranjan said as part of the 'Year of AI' there would be year-long programmes and activities in the emerging technology and some of them are long-term in nature.