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    Home » IT Ministry Set to Create National Fund for AI
    Economy

    IT Ministry Set to Create National Fund for AI

    This fund is derived from the Ignite Technology Fund but focuses specifically on advancing AI projects.
    Laiba KhanBy Laiba KhanApril 5, 2024Updated:April 6, 2024No Comments2 Mins Read
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    The Ministry of IT and Telecommunications has made the decision to establish the National Artificial Intelligence (AI) Fund, with the aim of boosting high-tech initiatives in AI and related technologies nationwide.

    This fund is derived from the Ignite Technology Fund but focuses specifically on advancing AI projects. While the Ignite Technology Fund currently supports a broad range of Research and Development (R&D) initiatives, entrepreneurship, and skill development in Information and Communication Technologies (ICTs), it lacks dedicated provisions for high-tech sectors like AI and its allied technologies. To address this gap, the IT Ministry is taking the initiative to create a specialized fund for the advancement of Artificial Intelligence.

    Additionally, the IT Ministry plans to establish Centers of Excellence in AI (CoEAI) in Karachi, Lahore, and Islamabad, along with Auxiliary AI Centers in Peshawar, Quetta, Multan, Faisalabad, and Gilgit. These centers will offer crucial support by providing access to high-tech computer infrastructure, laboratories, testbeds, and other resources. They will serve as hubs for nurturing AI talent, supporting entrepreneurs and startups focused on AI-led products and solutions, and leading nationwide civic and social initiatives utilizing AI.

    While recognizing the role of existing National Centers for AI in applied R&D at leading academic institutions in Karachi, Lahore, and Islamabad, the government identified a need for regional and central hubs for AI and allied technologies. These hubs are expected to provide comprehensive opportunities for skill development, applied R&D, computational resources, test beds, and regulatory sandboxes in AI.

    Moreover, the government plans to launch a comprehensive public awareness program on AI and related technologies at the national level, targeting 90 percent of the population with internet access. Under the auspices of CoEAI, initiatives will include curriculum revisions at all levels of education, training for the existing workforce, and specialized programs catering to marginalized groups such as women and persons with disabilities (PWDs).

    Stay tuned and visit CxO Global FORUM or CxO News Live for all the latest updates.

    AI allied technologies Centers of Excellence in AI (CoEAI) entrepreneurship establishment high-tech initiatives Ignite Technology Fund Information and Communication Technologies (ICTs) Ministry of IT and Telecommunications National Artificial Intelligence (AI) Fund R&D skill development specialized fund
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    Laiba Khan
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    Web Content Writer, Content Strategist, Social Media Marketing Strategist. Currently Volunteering and Learning to evolve every day!

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