Interim Budget 2024: From AI Integration to Digital Infrastructure, what can Union Budget 2024-25 prevail

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The Union Budget 2024-25 promises a sea change, prioritizing AI integration and strengthening digital infrastructure. It denotes increasing financing for AI research, incentives for AI adoption across industries, and nationwide improvements in digital connection. This budget lays the groundwork for a future in which innovation thrives and connection serves as the foundation for success across industries.

Mr. Ravinder Rathi, Director of Technology, Quarks Technosoft said, “The eagerly awaited Union Budget 2024-25 is poised to make substantial strides in the realm of technological advancement, with a specific focus on Artificial Intelligence (AI) integration and the fortification of digital infrastructure. Foremost among the anticipated initiatives is a significant boost in funding for AI research, reflecting the government’s commitment to positioning India as a global leader in AI innovation. This financial impetus is expected to catalyze breakthroughs, fostering a conducive environment for the development of cutting-edge AI applications.

Furthermore, the budget is likely to introduce measures incentivizing AI adoption across diverse sectors, aiming to harness the transformative potential of AI in areas such as healthcare, agriculture, and manufacturing. Such incentives can act as a catalyst for businesses to embrace AI technologies, driving economic growth and enhancing competitiveness on a global scale.

In tandem with AI, the budget is expected to prioritize the enhancement of digital infrastructure, with a focus on nationwide digital connectivity. This encompasses investments in high-speed internet, the development of smart cities, and the facilitation of seamless digital transactions. Strengthening digital infrastructure is pivotal in ensuring that the benefits of technological advancements are accessible to all corners of the country, fostering inclusive growth and development.”

Mr. Bhaskar Ganguli, Director, Marketing and Sales, Mass Software Solutions Pvt. Ltd. added, “We may see a significant evolution in the upcoming Union Budget 2024-25. It denotes not only financial planning but also a strategic roadmap for success. This budget is intended to channel more expenditures into AI research, provide incentives to accelerate AI adoption across industries, and weave a strong digital network across the country.

The chapters published in allocations and initiatives will reshape the landscape of industries in this progress story. AI is poised to be the core of progress, promising efficiency and creativity. The bigger objective is to build an integrated web of digital connectedness that will empower every individual.

This budget represents a nation’s commitment to embracing the digital revolution, rather than only outlining fiscal paths. Stakeholders are anxiously awaiting its unveiling, which will mark a future in which creativity is infinite and connection bridges all divides.”

Mr. Lalit Mehta, Co-Founder and CEO, Decimal Technologies added, “The strategic emphasis on AI integration and digital infrastructure in the Interim Budget 2024 may pave the way for progress. A specialized AI mission as well as funding to revitalize industries such as agriculture and healthcare research. Collaboration between the public and private sectors attempts to accelerate innovation by sharing costs and allowing for quicker advancement.

Applied artificial intelligence (AI) takes center stage, optimizing infrastructure monitoring and finance mechanisms. National high-speed Internet access is part of the digital expansion, which is bolstered by strong cybersecurity and data governance to ensure ethical use.

The budget prioritizes AI talent with a national skill program that fosters relationships between academia and business while also promoting AI startups. Tax breaks for AI adoption, as well as open-source AI advocacy, promote innovation and inclusion. This comprehensive strategy seeks to actively shape change rather than simply predict it.”