What is the News ?

President Droupadi Murmu launched the 'INS Vindhyagiri' in Kolkata at Garden Reach Shipbuilders and Engineers Limited (GRSE).

Facts About:

• Project 17A – Vindhyagiri, named after the mountain range in Karnataka, is the sixth ship of the Project 17A program, as per PTI reports.
• Vindhyagiri, a technologically advanced Frigate, and a tribute to the erstwhile INS Vindhyagiri, the Leander Class ASW Frigate.
• Old Vindhyagiri – It is nearly 31 years of service from July 1981 to June 2012, had witnessed various challenging operations and multinational exercises. 
• Under the Project 17A program, a total of 4 ships by Mazagon Dock Ltd (MDL) and 3 ships by GRSE are under construction. 
• The project's first 5 ships have been launched by the MDL and GRSE between 2019 and 2022.
• Project 17A ships have been designed in-house by the Indian Navy's Warship Design Bureau, the pioneer organization for all warship design activities.
• A substantial 75% of the orders for equipment and systems of Project 17A ships are from indigenous firms.

Source: https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1949974

What is the News ?

India ranked fifth in Artificial Intelligence (AI)-based investments according to Stanford University’s annual AI Index report 2023.

Facts About:

• AI Index is an independent project at Stanford Institute for Human-Centered Artificial Intelligence (HAI).

Purpose: 

• The annual report compiles, analyzes, and visually presents AI-related data to empower responsible and ethical AI advancements in collaboration with human interests

Global AI Investment Rankings

1. United States
2. China
3. United Kingdom
4. Israel
5. India

India's Remarkable Growth

• India secured the fifth position in AI investments received by startups worldwide in 2022.
• AI startups in India attracted $3.24 billion in funding, surpassing countries like South Korea, Germany, Canada, and Australia.

Investment Revival amidst Recession

• Despite a global AI investment dip since 2021 due to economic challenges, a resurgence in Venture Capital (VC) funding is anticipated this year.
• Enterprises and consumers' heightened interest in generative AI products like Open AI's ChatGPT is expected to drive this revival.

Global Contribution to LLM Development

• 54% of researchers involved in advancing large language models (LLMs) hail from American institutions.
• Significant progress observed as researchers from Canada, Germany, and India joined the LLM development landscape in the past year.

Source: https://indianexpress.com/article/technology/artificial-intelligence/key-takeaways-from-stanford-ai-index-report-2023-8539812/