India, Germany to work together on artificial intelligence start-ups

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India, Germany to work together on artificial intelligence start-ups
India, Germany to work together on artificial intelligence start-ups

To further strategic research and development in the artificial intelligence arena, the two governments have roped in academic institutions and local industries

India and Germany have agreed to collaborate and work together in the domain of artificial intelligence (AI) that includes working on advancing artificial intelligence based start-ups and research.

Also jointly, the two countries will work to foster a higher degree of application of artificial intelligence in sustainability and healthcare. The announcement was made at the sidelines of a meeting between Minister for Science and Technology and Earth Sciences Jitendra Singh and his German counterpart Bettina Stark-Watzinger.

Both ministers, at the meeting, agreed for greater cooperation in the field of AI. It was also announced that to invite suggestions from researchers and industry in this regard, a proposal will soon be floated.

Singh also said that electric mobility, quantum technologies, green hydrogen fuel, among others are the newer areas of technology in which the two countries will be working together. To leverage the two country’s strengths, he further proposed ramping up joint cooperation in these areas.

Highlighting the government’s achievements, Singh said that the Centre was focused on ‘promoting the value chain of innovation, entrepreneurship and IP generation.’

The announcement is part of the overarching cooperation between the two sides in science and technology. To further strategic research and development in the artificial intelligence arena, the two governments have roped in academic institutions and local industries.

Indian Software-as-a-Service (SaaS) start-ups have been creating a mark in the artificial intelligence space. Many Indian companies have made their foray into global markets with a slew of offerings powered by artificial intelligence. A host of Indian start-ups, from Zoho to Freshworks, have created artificial intelligence products that have found markets in different parts of the world.

Last year, Indian enterprise-tech start-ups raised more than $3.2bn in investments. India also boasts of 16 unicorns in the sector. A report by IDC said that the India AI software market would grow from $2.7bn in 2020 to $6.3bn by 2025 at a CAGR of 18.1 per cent.

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