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Israel invests $13.2 million to build AI data infrastructure across key sectors - The Economic Times
Economic Times
·
26d ago
Medial
Israel has launched a NIS 44 million ($13.2 million) initiative to enhance AI research by establishing accessible data infrastructure across sectors like agrotech, health, climate, and security. Led by the Innovation Authority, Ministry of Economy and Industry, and Ministry of Agriculture and Food Security, this project aims to create high-quality databases for AI model training. It focuses on supporting startups, researchers, and peripheral communities, aligning with Israel's national AI strategy to foster nationwide growth and innovation.
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AI company Databricks finds India on a different trajectory, invests more
Economic Times
·
1y ago
Medial
San Francisco-based data and AI company Databricks is focusing on expanding its presence in India. The company is allocating a significant portion of its global investments to enhance its customer base, build engineering teams, and support Indian startups in training language models with quality datasets. CEO Ali Ghodsi stated that India is on a different trajectory compared to other regions in terms of economic growth, and he believes it will become a substantial part of Databricks' revenue. The company is also assisting Indian AI startups by leveraging synthetic data creation and transfer learning techniques to overcome the limitations of low-resource training. Databricks has experienced 80% revenue growth in India over the past two years and has launched its data intelligence infrastructure in Mumbai.
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Blackstone to invest $25 billion in data centers and natural gas plants, COO says - The Economic Times
Economic Times
·
24d ago
Medial
Blackstone plans a $25 billion investment in data centers and energy infrastructure in Pennsylvania. Announced by COO Jon Gray at the Energy and Innovation Summit in Pittsburgh, the firm has identified sites for large data centers and plans with a local utility to build natural gas generation plants. The investment reflects Blackstone's commitment to expanding its operations in technology and energy sectors, focusing on sustainable investments and infrastructure development in strategic locations.
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India, US have complementary strengths in AI age: Union minister Ashwini Vaishnaw
Economic Times
·
4m ago
Medial
India and the US can leverage their complementary strengths in AI, with India providing talent and diverse data, fostering a win-win technological collaboration. Union Minister Ashwini Vaishnaw highlights India's ambition to develop its AI model and infrastructure to transform sectors like agriculture and healthcare. OpenAI's Chief Economist, Ronnie Chatterji, notes the shift towards nationalism and infrastructure investments, emphasizing AI’s potential economic impact and advocating for India's significant investment in AI infrastructure.
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Infosys Chairman pushes for India as AI ‘Use Case Capital’ over LLM development
Livemint
·
9m ago
Medial
Infosys Chairman and co-founder Nandan Nilekani has urged Indian AI companies to focus on practical AI applications rather than developing large language models (LLMs). He emphasized the need to build an infrastructure for data gathering and utilization to drive innovation across various sectors. Nilekani believes that India should prioritize synthetic data generation, small language models, and training that address real-world challenges. He encouraged Indian tech firms to establish robust systems for collecting and curating data, aiming for India to become the global capital for AI use cases. Nilekani praised Meta for making its Llama models open source and highlighted the importance of practical AI deployments in addressing real-world issues.
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Vision AI startup Metafusion appoints Avinash Trivedi as Chief Growth Officer
IndianStartupNews
·
1m ago
Medial
Metafusion, a vision AI startup, has appointed Avinash Trivedi as its Chief Growth Officer. He will lead growth strategies across enterprise adoption, market expansion, and global partnerships in key sectors. Trivedi, with over two decades of experience, previously worked at ZYGAL and other firms. His role will focus on accelerating the startup's AI product suite, expanding across smart city projects and intelligent infrastructure globally, and enhancing Metafusion’s market presence.
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Malaysia aiming to become energy, chip making hub, PM says
Economic Times
·
7m ago
Medial
Malaysia is positioning itself as an energy and chip manufacturing hub, leveraging recent investment growth and economic stability. The country aims to refine expertise in sectors like oil and gas, semiconductors, and Islamic finance. Prime Minister Anwar Ibrahim highlights Malaysia's robust economic rebound, driven by strategic investments in renewable energy and AI infrastructure. The nation plans to produce its own GPUs to meet the growing demand in AI and data centers, with targeted investments expected to exceed $100 billion.
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VCs back AI startups to shake up Indian IT services industry - The Economic Times
Economic Times
·
1m ago
Medial
Venture capital firms like Peak XV, Stellaris, Accel, and Elevation are increasingly investing in AI-first startups aiming to transform the IT services industry in India. These startups focus on creating efficient, AI-enabled alternatives to traditional IT services. The approach is to build from scratch, leveraging AI to enhance service delivery across sectors such as banking and healthcare. Despite the disruption potential, established IT companies are actively engaging with AI to boost productivity and service quality.
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Agentic AI Could Boost Productivity by Up To 10% But Governance Is Key: OpenAI’s Chief Economist
OutlookIndia
·
4m ago
Medial
Agentic AI has the potential to boost global productivity by 7% to 10%, according to OpenAI’s Chief Economist Ronnie Chatterji. Speaking at the Raisina Dialogue in Delhi, Chatterji emphasized that realizing this potential requires robust governance and trust. He highlighted India's advantage due to its large pool of STEM graduates and investment in AI infrastructure. Identifying key applications in sectors like education, defense, and healthcare is crucial to maximize AI’s economic impact in India.
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AstraZeneca invests $30M to expand global innovation centre in Chennai
YourStory
·
1y ago
Medial
AstraZeneca India has announced a $30 million investment to expand its Global Innovation and Technology Centre (GITC) in Tamil Nadu. The company inaugurated its Global Capability Centre (GCC) in Chennai, which is expected to be its largest center globally, aiming to streamline operations and create 1,300 positions by next year. The expanded GCC will focus on leveraging technology such as AI, machine learning, and data science to shape healthcare outcomes. The investment is seen as a boost for the pharmaceutical and healthcare sectors, as well as technological advancements and economic development in Tamil Nadu.
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‘AI, quantum pivotal to India’s Mission 2047’: Report
Economic Times
·
5m ago
Medial
A Nasscom and Bain & Company report highlights that advancements in AI, quantum technology, and digital manufacturing are crucial for India to become a developed economy by 2047. Cloud computing and AI will enhance India's IT ecosystem, and developing tech capabilities will transform service delivery. Key sectors include services, electronics, energy, and chemicals. A focus on infrastructure, skill-building, and innovation can position India as a global technology leader, supporting sustainable economic growth and exceeding $23 trillion GDP by 2047.
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