TEHRAN – The Vice Presidency for Science, Technology and Knowledge-Based Economy in Iran has officially announced a landmark investment of $100 million aimed at propelling the artificial intelligence (AI) sector forward. This exciting development was encapsulated in a memorandum of understanding (MOU) signed by Hossein Afshin, a representative of the Vice Presidency for Science and Technology, and Mehdi Qazanfari, the head of the National Development Fund (NDF).

The MOU outlines a strategic framework directed towards the implementation and advancement of artificial intelligence technologies, in alignment with the goals set forth in the Seventh National Development Plan (2023-2027) and reflecting the directives from the Leader of the Islamic Revolution, Ayatollah Seyyed Ali Khamenei, regarding investments in promising fields.

In light of this agreement, projects introduced through the Vice Presidency will be funded utilizing various financing methods, including loans and partnerships. In an effort to enhance collaboration between educational institutions and the private sector, the NDF will offer targeted loans to companies that support AI-based initiatives within universities and research centers.

Moreover, the Vice Presidency is set to leverage diverse funding tools to stimulate growth in emerging technologies.

Iran’s Ranking in AI Readiness Improves

Recent insights into Iran’s progress indicate an uplifting trend in its Government AI Readiness for the year 2024. According to the latest index by Oxford Insights, Iran has climbed up three ranks, now positioned at 91 out of 188 countries, compared to its previous standing at 94 in 2023.

The AI readiness index is recognized as a critical resource for guiding policymakers and is now an established standard across national governments around the world.

This year’s report evaluated the readiness of governments in harnessing AI amidst evolving citizen needs and challenges such as economic fluctuations and climate change. It assesses 40 indicators divided into three main pillars: Government, Technology Sector, and Data & Infrastructure.

Iran demonstrated its strongest performance in the Data and Infrastructure category, securing a score of 66.29, which shows remarkable improvement from 55.88 last year. This includes various metrics like infrastructure (70) and data availability (43), although the country ranked lower in government-related metrics, scoring only 26.54. This readiness reflects a growing acknowledgment of the importance of AI in enhancing governmental effectiveness and public service delivery.

MT/MG