Sep 18, 2020 | Neelam Tyagi
The government of India has been planning to promote and revitalise small firms for growing and surviving in the global space. In the line-up with highly motivated step, the centre has propelled an Artificial Intelligence Solutions Challenge, in terms with this event, the centre is inviting startups to build and introduce AI solutions to approach obstacles in various domains like healthcare, education, agriculture, smart mobility, transportation, and natural language processing and understanding.
The main objective of the government is to make startups independent at the same time while India has banned more than 118 Chinese app due to security reasons.
The selected startups (top 15 in number) will be provided with a chance to present the showcase of their AI solution at a virtual global summit on AI- RAISE 2020. The RAISE stands for Responsible AI for Social Empowerment that is organized by the union government in October. According to the summit, the winner will receive a reward of ₹20 lakh as prize money, also the government will select appropriate solutions whosesoever possible, as reported by Mint.
According to the CEO of National e-Governance Division(NeGD), Abhishek Singh, “this event will make lots of interest from the Venture Capital(VC) community and angel investors that could aid the smaller app to obtain noticed probably along with enhancement in their user-base. However, most of the apps have taken place in the market after Chinese apps got banned in India.”
It is expected that the Artificial Intelligence(AI) Solution challenge can bring a big development for start-ups and establish ways for prospective investments into them. Although, any of flourishing applications of AI will demand access to high-grade data and many startups don’t have access to them.