(MENAFN) Israel is embarking on a groundbreaking initiative to establish its first national supercomputer aimed at advancing artificial intelligence (AI) capabilities, according to statements from Dror Bin, CEO of the state-backed innovation authority, as reported by Reuters. The initiative, backed by a USD250 million investment, forms a cornerstone of Israel's comprehensive AI program involving collaboration among government entities, industries, and academia.

Bin outlined that the primary objective of the AI program is to bolster Israel's technological prowess by enabling local high-tech companies and researchers to conduct AI model training at reduced costs. Currently, many in Israel resort to purchasing cloud computing services due to the absence of sufficiently powerful local data centers.

"The new supercomputer will play a pivotal role in enhancing Israel's competitive edge and global standing in the AI arena," Bin emphasized in his statement to Reuters. He underscored the transformative potential of AI technologies, noting their significant contributions to Israel's tech sector while cautioning about the risks of falling behind in the rapidly evolving AI landscape.

Israel, recognized as a prominent global tech hub, attributes approximately 20 percent of its economic output to the tech industry, Reuters highlighted. With over 9,000 tech startups, of which more than 2,200 are involved in AI, and boasting 73 generative AI firms, Israel ranks among the leading countries in AI innovation globally.

The development of a national supercomputer marks a strategic move aimed at securing Israel's leadership position in AI research and development. As the initiative progresses, its impact on fostering technological innovation and economic growth in Israel is anticipated to resonate across various sectors, positioning the country as a key player in shaping the future of AI technology worldwide.

MENAFN30062024000045015687ID1108390110