New Delhi, Oct 26 (IANS): Aimed at promoting the scaling and adoption of impactful AI solutions to enable large-scale socio-economic transformation, the IT Ministry has launched the ‘IndiaAI CyberGuard AI Hackathon’.

This hackathon is part of the applications development initiative within the IndiaAI Mission, which seeks to advance the development, deployment, and adoption of AI applications in critical sectors.

The hackathon is aimed at promoting the scaling and adoption of impactful AI solutions to enable large-scale socio-economic transformation. The deadline for application submission is November 7.

“This strategic initiative seeks to utilize advanced technologies, particularly AI, to enhance cybersecurity and address the escalating threat of cyber fraud and crimes,” according to the IT Ministry.

With approximately 6,000 cases reported daily through the National Cybercrime Reporting Portal (NCRP), this hackathon aims to develop robust AI-driven solutions capable of managing and mitigating these threats.

The hackathon invites participation from Indian innovators, startups, non-profits, students, academic/R&D organisations and companies.

The first prize is Rs 25 Lakh, second prize is Rs 7 lakh and third is Rs 3 lakh. There is a special prize of Rs 5 lakh for an all-women team too.

IndiaAI is partnering with the Indian Cyber Crime Coordination Centre (I4C), established by the Ministry of Home Affairs.

The collaboration aims to leverage AI to drive efficiencies in the prevention, detection, investigation, and prosecution of cybercrime, thereby enhancing citizen welfare.

AI is set to play a crucial role in delivering the target of a $1 trillion digital economy by 2028, about 20 per cent of India’s GDP, and the country can maximise AI's potential to boost economic growth, drive inclusive progress and help it emerge as a global leader in public services.

A recent Google-commissioned report estimated that at least Rs 33.8 lakh crore of economic value from AI adoption can be achieved in India in 2030.