Iran Allocates 2 Credit Lines to Develop AI

“A memorandum of understanding has been signed with the Vice-Presidency for Science, Technology and Knowledge-Based Economy, Barakat Foundation, and the National Development Fund, according to which a thousand projects will be financed in the country's science and technology parks,” said Mohammad Nabi Shahiki.

“Two credit lines of 1.2 billion Tomans and $100 million have also been allocated for investment in the field of artificial intelligence. This budget is to be made available to the knowledge-based companies through the science and technology parks,” he added.

The head of Iran’s Specialized Council for Development of Artificial Intelligence (AI) announced in October that the country ranked 17th among the world nations in creating AI-based sciences.

“Iran ranks 17th in production of artificial intelligence science, but it ranks 70-90 in developing the applications of artificial intelligence,” said Sadeq Khani Ali Akbari.

He criticized the lack of technical and legal infrastructure for the development of artificial intelligence, and asked the government to approve laws related to this field.

“In addition to creating technical infrastructure like high-speed internet and completing the optical fiber project, the government should take necessary measures to exploit the capacities of artificial intelligence,” Khani Ali Akbari said.

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