Comments
Real-estate consultants Colliers is the front-runner in bagging the $10-million contract for constructing Infibeam Avenues’ Artificial Intelligence and Technology Extension Hub at Ahmedabad, official sources said.
The Ahmedabad centre is envisioned as an extension of Infibeam Avenues’ proposed AI Hub in Gift City in neighbouring Gandhinagar. The construction of this extension is slated for completion within a period of 18 months, sources close to the development told businessline.
In November 2023, Infibeam Projects Management Pvt Ltd, a subsidiary of Infibeam Avenues had acquired a partially constructed Sintex Corporate House in Ahmedabad from Aavas Trust, an entity owned by the Aditya Birla Group. This acquisition includes a plot area of 76,250 sq ft near Vaishnodevi Circle, where the extension hub is expected to come up.
“The Ahmedabad campus, which will be the extension of GIFT city’s AI Hub, will have the company’s own in-house team and it will house strategically invested AI and technology businesses under one roof, further enhancing the synergy and innovation within the ecosystem. As part of the ‘symbiotic’ framework, AI and tech companies will gain access to dedicated space within the AI & Tech Hub, where they can work in a collaborative ecosystem. This strategic location will empower these enterprises to offer their specialised products and services to enhance Infibeam Avenues’ artificial intelligence (AI) operations. Concurrently, the company will also provide a comprehensive support system that nurtures these businesses, enabling them to flourish independently while contributing to a thriving AI ecosystem,” sources added.
In January 2024, Infibeam Avenues signed a memorandum of understanding (MoU) with the Gujarat government, for a proposed investment of ₹2,000 crore in its Artificial Intelligence (AI) Hub at GIFT City by financial year 2030. The investments are meant for developing cutting-edge vision AI-technology for payments and platforms specifically tailored for retailers, the company had said. Infibeam Avenues had officially named its AI-Hub located at GIFT city, Gandhinagar, as ‘Phronetic.ai’.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.