Union Budget 2020: A Large Number of Indian start-ups are using new technologies such as for artificial intelligence and Machine learning to manage costs and address difficulties, and today the government is chasing within the game. This was the first Union Budget where finance minister Nirmala Sitharaman announced that the government will be focusing on the new economy. She highlighted “Rapid Increase of artificial intelligence”, bioinformatics, robotics, machine learning, especially analytics, and technologies were one of the advancements the government is aware of and are focusing to work towards in the coming years.
To this particular effect, the government has announced plans to form a policy to create Data park centers across the nation. The move is going to help the government keep data in India and besides let setting up a Data market in the nation on a big scale. At present, just a couple of players like Microsoft, Amazon, and Google have the servers of theirs within India, and that, also, on a small scale. Incentives for establishing Data parks can help them expand capacity and will provide stimulus to new players to create centers.
Union Budget 2020 will provide help and support to the government’s need on Data localization, which is going to fructify with a positive approach towards the Data Protection Bill. As businesses will be expected to store personal data, the Data industry is going to boost. Analysis and processing of Data can help employ a huge number and will help in improving and creating new skills. Incentives might also lead to storing of non-personal data in the nation, which the organizations are in any situation allowed to take outside of government jurisdiction.
Much more important is the recognition of Research and Development in quantum computing and allied areas. There’s been an emphasis on quantum computing since the previous year when Google announced quantum supremacy. A leap in a particular area will mean more applications for the technology and development of quantum machines. While the government has allotted Rs 8,000 crore for or for 5 years under the head of National Mission on Quantum Technologies and Applications – less when compared with other developed nations – provided India’s penchant of developing cheaper solutions, this might suffice.
Union Budget must open brand new avenues of Data processing and cybersecurity. The Government announced the usage of Machine learning and Artificial Intelligence for the National Policy on Official Statistics, that it would use technologies to enhance the reliability and accuracy of Data. The Finance minister extolled the advantages of Data analytics owing to its usage in tax fraud cases. The revenue department discovered 931 incidents of fraud input tax credit, making use of data. While the Government will be utilizing more such ways, one may anticipate the proliferation of this technology to various other uses.
The application of AI/ML for Ayushman Bharat will further assist in cleaning up records. The government was already operating a pilot with SAS, MFX, LexisNexis, Greenojo and Optum, an additional push would mean the making of health ID and health history for every individual.