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

By: |
October 5, 2020 8:07 PM

"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.

The new learning platform will supplement classroom teaching and help students in deriving insights from it.

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 USD 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.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Twitter brings its Clubhouse-rival Spaces to Android but conditions apply
2Microsoft Teams calls will be end-to-end encrypted soon, PowerPoint integration and new presenter tools also incoming
3Samsung launches Galaxy A32, its most affordable phone in India with 90Hz screen