Artificial Intelligence Institute in Nelson receives $3.4 million Provincial Growth Fund investment

Parliamentary Under-Secretary for Regional Economic Development Fletcher Tabuteau was in Nelson on Friday to announce a $3.4 million loan for an Artificial Intelligence Institute in this South Island city. It was part of a $4.5 million funding package for the Top of the South.

"Artificial intelligence is on the cusp of a global revolution and I am pleased the PGF has recognised the economic and social opportunities the Artificial Intelligence Institute will bring to the top of the south region and New Zealand as a whole," Under-Secretary Tabuteau said.

Artificial intelligence is the simulation of human intelligence processes by machines, usually computers. It can enable discoveries and decisions to be made quickly and easily when there are large data sets that are difficult or impossible to analyse manually.

"The institute will focus initially on using artificial intelligence in the aquaculture industry in a region where 70 per cent of the country's aquaculture industry is located and where untapped potential remains,” the Under-Secretary added.

"The proposal is a mix of commercial activity with a strong education focus involving the Nelson Marlborough Institute of Technology and over time, the [Artificial Intelligence] Institute will expand into different sectors and across the country," Mr. Tabuteau said.

 

https://www.stuff.co.nz/business/farming/aquaculture/115222456/nelson-artificial-intelligence-institute-receives-34m-loan-in-45m-pgf-package

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