IBM, govt e-marketplace to set up centre of excellence for AI in India

AI has the potential to raise India's annual growth rate by 1.3 percentage points and add USD 957 billion to India's economy by 2035

IT company IBM will set up a centre of excellence for artificial intelligence (AI) in India in partnership with Government e-Marketplace, a top official of the firm said.

"I am happy to announce we are creating an AI centre of excellence in partnership with Government e-marketplace (GeM). Our goal is to apply the power of AI to improve usability and transparency and drive efficiency in cost saving in public procurement, " IBM CEO Arvind Krishna said at RAISE 2020 summit.

AI has the potential to raise India's annual growth rate by 1.3 percentage points and add $957 billion to India's economy by 2035, as per the studies done by Accenture.

According to official data, more than 38,700 stakeholders from academia, the research industry and government representatives from 125 countries have registered to participate in RAISE 2020.

The National Strategy for Artificial Intelligence (NSAI) highlighted the potential of AI in boosting India's annual growth rate by 1.3 percentage points by 2035 and identified priority sectors for the deployment of AI with government's support.