ARTPARK with Rs 230-cr seed capital launched in Bengaluru

PTI, Mar 14, 2022, 5:08 PM IST

Bengaluru:  A Artificial Intelligence and Robotics Technology Park (ARTPARK) with a seed money of Rs 230 crore was launched on Monday at the Indian Institute of Science, Bengaluru. Of the Rs 230 crore, Rs 170 crore would be borne by the Central government and the rest by the Karnataka government, an official press statement said.

Opening the office of the ARTPARK, Karnataka Minister for IT-BT C N Ashwath Narayan said ARTPARK, intending to use futuristic technologies to connect the unconnected, would work on creating a globally leading ArtificiaI Intelligence and Robotics Innovation eco system in the country. “Jobs are the need of the hour. ARTPARK has been set up to effectively use technology, specifically AI and robotics, for the country’s betterment. The ARTPARK has the objective of channelising innovations to create a societal impact by executing ambitious mission-mode R&D projects in healthcare, education, mobility, infrastructure, agriculture, retail, and cyber-security aiming to solve problems unique to India,” the Minister said.

This initiative with ‘Connecting the Unconnected’ as the motto would help the youths outside urban parts of the country not only access the next-generation of digital work but also acquire the skills they need to thrive in an AI-driven future. Karnataka would take the leadership role to create the new economic growth model for Atmanirbhar Bharat, Narayan said. On the occasion, ‘ARTPARK Innovation Summit 2022’ was held. Rajiv Kumar, vice-chairman, NITI Aayog, who attended the summit virtually, said the nation has the potential to become a world leader by unlocking the full potential of its rural economy. Futuristic technologies like 5G, AI & Robotics would help realise this at a faster pace and create jobs, he added. Speaking on the occasion, S Chandrasekhar, secretary, Department of Science and Technology, said digital and physical connectivity innovations are critical to growth and Atmanirbhar vision.

ARTPARK facilitates bringing together industry, academia, and the government to discuss creating the next model of job growth outside metros by leveraging cutting-edge technologies, he added. IISc director Rangarajan said the institute is at the forefront of research in technologies like 5G and UAVs, and ARTPARK is using that expertise to create a better tomorrow. Umakant Soni, chief executive officer of ARTPARK, said an AI-driven experience economy would result in USD 15.7 trillion new economic value by 2030 as per research. “To have the nation at the forefront of a AI and robotics revolution, we need to explore these technologies to create new jobs in the rural parts of the country, he said.