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In the run-up to Finance Minister Nirmala Sitharaman’s Budget 2024 announcement, experts from India’s AI sector are expressing their expectations, pushing for enhanced funding for AI infrastructure and tax incentives to stimulate investment, among other measures.
Read the expectations from the AI industry in detail:
Sarvagya Mishra, Co-founder & Director, Superbot
As we approach Budget 2024-25, Superbot anticipates significant advancements in government policies to support the burgeoning AI and technology sectors. With our foundation rooted in addressing critical communication challenges, particularly in the education sector, we have witnessed the transformative power of AI-driven solutions firsthand. We urge the government to prioritize funding for AI and machine learning research, fostering innovation that can elevate customer engagement across diverse industries.
Furthermore, we advocate for increased incentives for public-private partnerships, which are essential for scaling AI technologies to serve wider demographics, including small and medium-sized enterprises (SMEs). These partnerships can democratize access to advanced AI solutions, ensuring that businesses of all sizes can leverage technologies like Superbot to enhance operational efficiency and customer satisfaction.
Superbot also calls for the integration of AI into national digital infrastructure initiatives, ensuring robust support and seamless integration for businesses adopting AI-driven solutions. Tax incentives for companies investing in AI and automation technologies will be crucial in accelerating adoption and driving economic growth.
Additionally, comprehensive training programs and educational initiatives are needed to build a skilled workforce capable of developing and managing AI technologies. Last but not least, we emphasize the importance of establishing clear regulatory frameworks that promote ethical AI usage and protect consumer data, fostering trust and reliability in AI interactions”
Chinmay Hegde, Co-Founder, CEO, and Managing Director of Astrikos Ai
In the upcoming union budget, we would be happy to see the government prioritizing funding for AI-driven infrastructure management, particularly for command-control centers and ports. A dedicated budget allocation for Infra-AI is essential to foster innovation and efficiency. Tax incentives should be introduced to encourage the adoption of AI and machine learning solutions across organizations.
Relaxation of tender norms will facilitate smoother implementation processes. Supporting organizations in building and upgrading next-generation data centers is imperative for scaling AI capabilities. Grants should be allocated for sustainable and green urban infrastructure projects leveraging AI technologies. Increased R&D funding for AI under DST grants will spur technological advancements. Enhanced funding for AI implementation in industrial sectors will drive smarter operations and economic growth.