National AI Fund to Be Established by IT Ministry

April 8, 2024Zayn0

The National Artificial Intelligence (AI) Fund was established by the Ministry of IT and Telecommunications with the intention of supporting high-tech efforts in AI and related technologies throughout the nation.

As a spin-off of the Ignite Technology Fund, this fund is dedicated to furthering AI-related projects.

The IT Ministry paper states that the Ignite Technology Fund’s present mandate includes comprehensive assistance for entrepreneurship, R&D activities, and skill development in the field of information and communication technologies (ICTs).

They will act as centers for developing AI talent, assisting business owners and startups developing AI-driven goods and services, and leading national AI-based civic and social projects.

The government recognized a lack of regional and central hubs for AI and related technologies, even as it acknowledged the current significance of National Centers for AI in applied R&D at prestigious academic institutions in Karachi, Lahore, and Islamabad.

These centers are intended to offer extensive chances for applied research and development, test beds, computational resources, skill development, and regulatory sandboxes in artificial intelligence.

Zayn

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