In partnership with Government e-Marketplace, IBM will be setting up a centre of excellence for artificial intelligence (AI) in India. 

"I am happy to announce we are creating an AI centre of excellence in partnership with Government e-Marketplace (GeM). Our goal is to apply the power of AI to improve usability and transparency and drive efficiency in cost saving in public procurement," IBM CEO Arvind Krishna said at RAISE 2020 summit. He said that by 2030m AI is slated to unlock USD 15.7 trillion in productivity.

As per the studies done by Accenture, AI has the potential to add USD 957 billion to India's economy by 2035 and raise India's annual growth rate by 1.3 percentage points.  

"In India, IBM is collaborating with the local government in the state of Karnataka and with NITI Aayog to deploy our precision agriculture solutions which combine AI and weather data to help farmers make better decisions. The platform’s critical capabilities were developed by our teams in India," he said.

According to official data, to participate in RAISE 2020, more than 38,700 stakeholders from academia have registered.

While identifying priority sectors for the deployment of AI with government's support, the National Strategy for Artificial Intelligence (NSAI) highlighted the potential of AI in boosting India's annual growth rate by 1.3 percentage points by 2035.