Tech

Israel to Invest USD 133 Million to Boost AI Development and Research

Israel plans to fund artificial intelligence (AI) infrastructure with 500 million shekels, or roughly USD 133 million, with the goal of advancing research and development in a number of fields.

This significant financing, which was announced by the Israel Innovation Authority, will help build a national knowledge hub to serve government ministries and local authorities and improve AI integration in the public sector.

The money will go toward building a national institute for AI research and starting initiatives that close the knowledge gap between cutting-edge research and useful applications in business and defense.

Furthermore, by bringing in foreign AI experts and funding specialized AI training programs for the armed forces, the allocation will strengthen human capital in Israel.

The money will also be utilized to promote innovative high-tech ventures and to take advantage of already-existing data repositories to accelerate AI research and innovation.

Also Read: Indian Space Startup Pixxel Secures NASA Contract to Enhance Earth Science Research

Additionally, the authority intends to address important concerns including legislation, ethics, and international collaboration in the field of artificial intelligence while bolstering academic research by providing scholarships for graduate degrees.