THIRUVANANTHAPURAM: The state government has allocated a total of Rs 517.64 crore in the state budget to strengthen the IT sector focusing on AI, emerging technologies and digital infrastructure. Thiruvananthapuram will be developed as an automotive technology hub.
A Graphics Processing Unit (GPU) cluster will be set up in the capital to make the state a major player in AI, Animation, Visual Effects, Gaming, and Comics (AVGC). The government has allocated Rs 10 crore for this project.
A national-level hackathon will be organised to encourage the development of Agentic AI systems, which integrate AI into various industries. The budget sets aside Rs 1 crore for this, with Rs 20 lakh each allocated to the top five selected AI projects.
The budget recognises the potential of fintech, with Rs 10 crore allocated for fintech development in collaboration with financial institutions like KSFE and KFC. A total of Rs 5 crore has been earmarked for GCC parks, along with Rs 2 crore for hosting an International GCC Conclave.
The Digital University has signed an MoU with Oxford University for academic collaboration, with Rs 2 crore allocated for PhD scholarships through Oxford’s GEMS funding mechanism. “The proposals in the budget to develop Global Capability Centres and promote fintech enterprises will open up new opportunities. It aligns well with the state’s transition into a knowledge-based economy,” said KSUM CEO Anoop Ambika.