Indonesia eyes 'sovereign AI fund' to drive development, document shows

Indonesia is proposing to establish a "sovereign AI fund" to finance its ambitions of becoming a regional hub for artificial intelligence development.

This initiative is part of a broader national AI strategy outlined in a 179-page white paper, recommending that the fund be mainly handled by Indonesia's new sovereign wealth fund which manages over $900 billion in assets.

The fund aims to support Indonesia's AI push through a public-private financing model and is expected to be set up between 2027 and 2029.

Additionally, the strategy suggests increasing fiscal incentives for domestic AI investors to bolster the ecosystem. This move is aligned with Indonesia's goal to compete in the global AI and chip-making race, enhance computational readiness, and address challenges like talent shortages and uneven connectivity.

The strategy has input from major industry players like Huawei, and recognizes AI's potential to contribute significantly to Indonesia’s GDP by 2030.

The government is also fostering AI innovation through initiatives like the AI Center of Excellence, supported by partnerships with tech giants aiming to nurture local talent and develop AI infrastructure.

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