The National Artificial Intelligence Development Fund is established; Injection of 100 thousand billion Rials for the jump of AI infrastructure

In today’s (Wednesday, December 5) public meeting, the representatives of the Islamic Council approved Article 13 of the report of the Industries and Mines Commission on the “National Plan for Artificial Intelligence”; A material that brings the artificial intelligence financing structure of the country into a new stage.

Establishment of the National Artificial Intelligence Development Fund

According to the resolution of the parliament, the “National Fund for the Development of Artificial Intelligence” is established as a subsidiary of the National Organization of Artificial Intelligence. The initial capital of this fund is 100 thousand billion Rials, which is supposed to be provided in the form of annual budget bills in three years.

The statute of the fund, including the elements, operation mode, powers and monitoring mechanisms, must be finalized within three months from the effective date of the law, with the proposal of the National Artificial Intelligence Organization and the approval of the Council of Ministers.

Allocation of 25% of innovation fund resources to AI

According to this resolution, the Innovation and Prosperity Fund is also obliged to transfer at least 25% of the resources under its control to the National Artificial Intelligence Development Fund with the approval of the Board of Trustees.

Also, the fund can benefit from the contributions and investments of natural and legal persons, government companies and non-governmental public institutions.

Government budget assignments

The representatives of the government were obliged to predict the budget of the National Artificial Intelligence Organization in the form of an independent row and according to the missions defined in this law in the annual budget bills.

Incentives for the private sector

Private sector investment in the development of artificial intelligence infrastructure, including things such as:

• processing infrastructure,

• development of algorithms,

• datasets,

• reference laboratories,

will be subject to the benefits of Clause “T” of Article 11 of the Knowledge-Based Production Jump Law; An issue that increases the investment motivation of technology companies.

Allocation of 10% of operators’ revenues to AI

One of the important clauses of this article is the duty of the government to annually allocate 10% of the credits approved by the Ministry of Communications from the place of “royalty and government share of operators’ income” to the National Artificial Intelligence Development Fund.

These resources should be spent on developing processing infrastructure, subsidizing processing services, supporting artificial intelligence service providers and start-up businesses in this field.

Requiring devices to program AI

Finally, all executive bodies were required to predict their budget needs for the implementation of tasks related to artificial intelligence in the annual budget lines and within the approved appropriations limit.