Karnataka Government Announces $17.5 Billion AI Investment Plan, Aiming to Create 100,000 Jobs

Karnataka Govt Sets Bold Ambitions with $17.5 Bn AI Investment for 100K Jobs Amid Skepticism

The initiative includes the launch of India's first GCC policy and strategic MoUs with global tech giants, aiming to train 100,000 professionals in the next year. At Bengaluru Tech Summit 2024, the Karnataka Government today announced a major investment of $17.5 billion in artificial intelligence (AI) initiatives, aiming to create 100,000 new jobs. This ambitious plan comes at a time when some experts are questioning its feasibility and long-term benefits. "Technology Unbound signifies our dedication to breaking traditional barriers and building global partnerships that drive meaningful progress," said Chief Minister Siddaramaiah, emphasising the state's commitment to technological advancement. To support this initiative, Karnataka has partnered with leading global tech companies including Microsoft, Intel, Accenture, and IBM. These collaborations are designed to enhance skill development and foster innovation. Ekroop Caur, secretary to the government, highlighted the focus on workforce readiness, stating, "Our goal is to ensure that local talent is not only skilled locally but also competitive on a global stage." This was part of the 'Nipuna Karnataka' initiative launched on 18 November. Under this initiative, the government aims to bridge the gap between industry requirements and the state's current skill level. In addition to partnerships with major corporations, Karnataka is also collaborating with international organisations from Switzerland, Finland, and the Sharjah Innovation Authority in the UAE. These alliances aim to deepen global cooperation and accelerate technological breakthroughs. Sriharsha Majety, CEO and co-founder of Swiggy praised Karnataka's vibrant ecosystem, remarking, "Karnataka's environment has been crucial in allowing us to dream big and develop solutions that make a real impact." The government added by announcing the Startup Springboard Program at BTS 2024 to empower Karnataka's startups. They also announced the Centre of Excellence on AI in Bengaluru. This will be done in partnership with IIT Alumni Centre Bengaluru (IITACB) to drive AI innovations by supporting startups. Despite the positive outlook, some critics worry that the rapid adoption of AI could lead to significant job displacement and widen economic inequalities. However, the Karnataka Government remains steadfast in its strategy, believing that these investments and international partnerships will not only advance the state's technological landscape but also ensure a prosperous future for its workforce.The initiative also includes the launch of India's first GCC policy and strategic MoUs with global tech giants, aiming to train 100,000 professionals in the next year.

K'taka Govt Signs MOUs with Big Techs to Train 100k People, Expects $17.5 Bn Investments

The initiative includes the launch of India's first GCC policy and strategic MoUs with global tech giants, aiming to train 100,000 professionals in the next year. At Bengaluru Tech Summit 2024, the Karnataka Government announced a potential investment of $17.5 billion in business opportunities for the state. The government aims to train 100,000 professionals and create jobs for at least 70% of them in 2025. This ambitious plan comes at a time when some experts are questioning its feasibility and long-term benefits. "Technology Unbound signifies our dedication to breaking traditional barriers and building global partnerships that drive meaningful progress," said Chief Minister Siddaramaiah, emphasising the state's commitment to technological advancement. To support this initiative, Karnataka has partnered with leading global tech companies including Microsoft, Intel, Accenture, and IBM. These collaborations are designed to enhance skill development and foster innovation. Ekroop Caur, secretary to the government, highlighted the focus on workforce readiness, stating, "Our goal is to ensure that local talent is not only skilled locally but also competitive on a global stage." This was part of the 'Nipuna Karnataka' initiative launched on 18 November. Under this initiative, the government aims to bridge the gap between industry requirements and the state's current skill level. In addition to partnerships with major corporations, Karnataka is also collaborating with international organisations from Switzerland, Finland, and the Sharjah Innovation Authority in the UAE. These alliances aim to deepen global cooperation and accelerate technological breakthroughs. Sriharsha Majety, CEO and co-founder of Swiggy praised Karnataka's vibrant ecosystem, remarking, "Karnataka's environment has been crucial in allowing us to dream big and develop solutions that make a real impact." The government added by announcing the Startup Springboard Program at BTS 2024 to empower Karnataka's startups. They also announced the Centre of Excellence on AI in Bengaluru. This will be done in partnership with IIT Alumni Centre Bengaluru (IITACB) to drive AI innovations by supporting startups. Despite the positive outlook, some critics worry that the rapid adoption of AI could lead to significant job displacement and widen economic inequalities. However, the Karnataka Government remains steadfast in its strategy, believing that these investments and international partnerships will not only advance the state's technological landscape but also ensure a prosperous future for its workforce. The initiative also includes the launch of India's first GCC policy and strategic MoUs with global tech giants, aiming to train 100,000 professionals in the next year. "We will be establishing three dedicated global provision districts in Bengaluru, Mysore and Belagavi," says the Karnataka CM at the tech summit.