Serbia follows in the steps of more developed countries when it comes to the strategic development of artificial intelligence (AI). A smart move considering that artificial intelligence is one of the fastest-growing technologies with the global market of AI expected to grow massively.
According to Allied Market Research the global artificial intelligence market size is expected to reach $169,411.8 million in 2025, from $4,065.0 million in 2016. This is a Compound annual growth rate (CAGR) of 55.6% from 2018 to 2025.
Artificial Intelligence Gaining Traction in Serbia
Among the 70 applications, the Science Fund of the Republic of Serbia 12 selected projects in the field of artificial intelligence. The total amount of financial supports amounts to 2,4 mil EUR. The expected duration of all projects is 24 months. One-half of selected project proposals will tackle research problems in the fields of agriculture, information technologies, energy, modern industry, environmental protection, while the other half will deal with fundamental research.
Dr. Milica Đurić Jovićić, Acting Director of the Science Fund, explains this is the first time that
Serbia has invested in research aimed at developing the most vibrant field in the world of science. In her words, the goal is to encourage scientific research in Serbia in the field of artificial intelligence and the commercial application of research results.
The AI market is segmented by technology, industry vertical, and geography.
Unbiased evaluation process
The projects were evaluated by foreign experts in the field of artificial intelligence. During the first round, the reviewers were from 27 countries around the world, and in the second round they were evaluated by a three-member program committee from Great Britain, the USA and Croatia. In their opinion, the selected projects were of very high quality.
The selected projects come from various research organisations, including some unexpected entrants.
For example, the GRASP project from the Faculty of Sciences in Novi Sad will aim at improving the techniques of mapping graphs in the field of machine learning. Possible applications involve various scientific fields such as bioinformatics, sociology, economics, but also industry and education.
The S-ADAPT project from the Faculty of Technical Sciences in Novi Sad will use advanced methods of artificial intelligence to improve human-machine speech communication.
Although artificial intelligence is primarily related to mathematics and technology, scientists from the Faculty of Philology and Philosophy in Belgrade partner in some projects. For example, the AVANTES project brings cooperation between the Faculty of Philology and Faculty of Electrical Engineering in Belgrade. The interdisciplinary research will exploit the possibilities of applying artificial intelligence in the processing of Serbian and English languages to create a more efficient software system.
A team of researchers from the Faculty of Civil Engineering and Mathematics through the CERES project will develop algorithms based on artificial intelligence in order to make useful and timely decisions in agriculture based on big data and satellite images. Based on these algorithms, farmers will easily monitor the growth of plants, estimate harvests or decide the number of required nutrients.