IBM to set up centre of excellence for AI in partnership with GeM

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. 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.

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.

He said AI is slated to unlock USD 15.7 trillion in productivity by 2030. "Yes, that is a big number. But AI has the potential to not only boost economic growth but improve the livelihoods of millions around the world," Krishna said. 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, as per the studies done by Accenture.

Krishna said that globally, the world will need to feed two billion more people without an increase of arable land by 2050. "In India, IBM is collaborating with the local government in the state of Karnataka and with NITI Aayog to deploy our precision agriculture solutions which combine AI and weather data to help farmers make better decisions. The platform's critical capabilities were developed by our teams in India," he said.

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.