Uttar Pradesh is planning to build India’s first AI city in Lucknow to house and promote the AI ecosystem.
UP Electronics Corporation Ltd, the nodal agency for the project, has released an expression of interest (EoI) seeking proposals for the design, development and operation of an AI City in Lucknow, as per Businessline.
The vision for this AI city is to become a dynamic hub where ideas thrive, incorporating cutting-edge technology, research centres, and educational institutions. The EoI invites real estate developers to participate in building and operating the AI city, to nurture the workforce of the future.
Lucknow is already host to Centers of Excellence specialising in fields such as AI and medtech, showcasing extensive integration of AI technologies.
The AI Centre of Excellence at IIIT Lucknow plays a pivotal role in supporting over 15 AI/ML startups, contributing to the development of a vibrant culture of creativity and entrepreneurship.
According to a report by Grand View Research, the global AI market was valued at $137 Bn in 2022 and is expected to witness a compound annual growth rate of 37.3% from 2023 to 2030.
In addition, a report from Outlook emphasises that the envisioned AI City includes the construction of Grade-A certified commercial spaces for IT companies, a state-of-the-art data centre, Grade-A flexible workspaces, and tech labs.
The IT and Electronics Department has identified potential land parcels in key locations of Lucknow for the development of the AI City. The 40-acre land parcel in the Nadarganj industrial area holds strategic significance, being near key infrastructure, and offering connectivity to the Lucknow-Kanpur road and the Lucknow International Airport.
This development comes at a time when generative AI (Gen AI) has become a buzzword among Indian entrepreneurs. This has given rise to many new Indian startups in the segment.
As per Inc42 data, India is home to more than 70 GenAI startups that have raised capital in excess of $440 Mn between 2019 and Q3 2023. The homegrown GenAI market is expected to grow to a market size of $17 Bn by 2030 from $1.1 Bn in 2023.
Meanwhile, the government is also engaged in working on AI data and regulation.
The central government initiated the process of formulating regulations for AI to foster its growth, safeguard interests, and promote innovation in India, according to IT Secretary S Krishnan.
With AI taking centre stage globally, the government is increasing its focus on the segment. Recently, Minister of State (MoS) for Information Technology Rajeev Chandrasekhar said that the centre is planning to fund and support AI startups in the country.
© INC42
