Hyderabad to Host the Prestigious Global AI Summit 2024

Last Updated on August 18, 2024 by SPN Editor

Hyderabad is gearing up to host the Global AI Summit 2024, a significant event aimed at showcasing startups and innovations in the AI sector. Scheduled for September 5 and 6 at the Hyderabad International Convention Centre (HICC), the summit is expected to drive growth in India’s AI market, which is projected to reach $17 billion by 2027.

The Machine Learning and Artificial Intelligence Hub (MATH), based at T-Hub, is spearheading several initiatives for the summit. Launched in March, MATH is a collaborative effort between the Union government’s Department of Science and Technology (DST) and T-Hub. It supports 963 AI-based startups across India, focusing on incubating startups that develop AI solutions or utilize AI to address various challenges.

The Telangana Global AI Summit serves as a platform to catalyze a future where AI facilitates positive change, empowering citizens and fostering a global community through responsible and non-discriminatory AI development. Driven by Telangana’s pioneering IT legacy and expertise, the Summit aims to propel the State to the forefront of global AI innovation, development, and deployment.

The vision is to create a world where AI empowers citizens and revolutionizes industries, driving positive social change. The Telangana Global AI Summit explores and harnesses AI’s transformative potential, fostering a collaborative ecosystem for responsible innovation.

To achieve this, the Global AI Summit 2024 seeks to bridge the gap between theoretical research and real-world application, making AI accessible to everyone. It explores concrete solutions for implementing AI across sectors and fosters global collaboration to ensure AI benefits all. The “Telangana Global AI Summit 2024” epitomizes a vision of a future powered by innovation, collaboration, and inclusivity.

The Global AI Summit 2024 aims to catalyze international collaboration in AI, fostering a global approach. It serves as a platform where strategic investment meets opportunity, connecting the dots for developing AI solutions. The Summit aims to create an ecosystem that enables ideas and diverse perspectives to shape a collaborative future for AI. The planned outcomes include fostering inclusive AI development by convening international leaders, experts, innovators, and stakeholders.

Further, the Global AI Summit 2024 will unite leading minds to drive progress in AI, foster partnerships and resource allocation to support AI development, and emphasize ethical considerations in driving positive change. The ultimate goal is to leverage AI for societal benefit, making it accessible and advantageous for everyone through developing and applying AI solutions in diverse scenarios.

MATH’s Contributions to the Global AI Summit 2024

• Hackathon: Featuring 30 AI-related problem statements, the hackathon has already received over 6,000 registrations. The goal is to engage at least 15,000 participants, including startups, students, and developers.
• InnovAtIon Gala: An awards event on August 29 at T-Hub to identify promising startups for the Pitch Games. Selected startups will present their ideas to venture capitalists and investors after a four-day workshop for investor engagement.
• Showcase Booths: Around 40 to 50 booths will display the products of participating startups.

Impact on India’s AI Market

The Global AI Summit 2024 is unique due to its scale and government support, providing a platform for networking, collaboration, and showcasing innovations. Government backing, both at the state and central levels, is crucial for the growth of the AI industry, similar to the support seen during the IT revolution in the early ’90s.

Infrastructure and Manufacturing Development

India currently relies heavily on imports for AI hardware, such as GPUs and chips. To become self-sufficient and lead in AI, the country needs to develop its own hardware manufacturing capabilities. This will reduce dependency on foreign products, lower costs for startups, and boost innovation. Ensuring that technological advancements are economically friendly is particularly important for sectors like agriculture.

Telangana’s Role in the AI Market

Telangana is making significant strides in the AI sector, actively promoting AI through various initiatives. Hyderabad’s cosmopolitan environment is also a key factor, with over 50% of the startups at MATH founded by people not originally from the city. This inclusivity highlights Hyderabad’s welcoming nature and its potential as a hub for AI innovation.