Artificial Intelligence Current Affairs - 2020

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AI powered National Stock Exchange Knowledge Hub inaugurated in New Delhi

On January 6, 2020, the National Stock Exchange (NSE) knowledge Hub was inaugurated. The hub will assist insurance, banking and financial services. The hub has adopted the latest technology of Artificial Intelligence.

Highlights

The technologies such as Artificial Intelligence and Machine Learning are two major keys for India to become 1 trillion-dollar economy by 2035. The hub is one such step of the technologies to boost the economy of the country. The learning modules in the hub will help in understanding the stock exchange and its functioning better. It will help in creating an adequate work force.

Significance

The AI technology hub will also ensure affordable skill upgradation. The hub will make learning materials easily accessible. With the help of the hub, the NSE shall now enhance its skills. With India being the second largest fintech hub in the world, the hub will help NSE further aid India’s progress.

India’s position in AI

According to RESEARCH AGENCY Itihaasa, India ranks third in Artificial Intelligence. The rankings were provided by the agency based on the research publications in the field. China stands first with 37,918 researches on AI followed by US with 32,421 researches. India holds 12,135 research documents on AI.

Ministry of External Affairs creates “NEST” to increase investment coordination

The Ministry of External Affairs is to set up a new division called NEST-New and Emerging Strategic Technologies. The division will work to increase investment coordination among the states of the country and also with the foreign countries.

Highlights

The NEST will act as a nodal point to exchange views with foreign governments. This will help in confronting emerging challenges and scenarios in new technologies. With India coping with issues of security implications in 5G and artificial intelligence, NEST division will help India spread emerging technologies among the states. It will also aid in coordination among domestic ministries and departments.

The division will also hold responsibility for matters that involves negotiations with multilateral fora like United Nations, G20. This will help to safeguard India’s interests as such forums govern the rules of access to such technologies.

The Emerging Technologies

The top Emerging Technologies in India are Artificial Intelligence and Internet of things. The emerging 5G technology will improve the performance of IoT platforms.

3D printing finds its application widely in areas such as defence, aerospace, automobile, engineering and medical. Robotic Process Automation (RPA) is yet another emerging technology that finds its application in supply chain management and customer services.