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Petchem Industry Positioned to Lead in AI Adoption

Petchem Industry Positioned to Lead in AI Adoption
(Monday, January 27, 2025) 11:21

TEHRAN (NIPNA) – The Vice President for Science, Technology, and Knowledge-Based Economy, Hossein Afshin, underscored the potential of Iran’s petrochemical sector to achieve significant advancements through the use of artificial intelligence (AI), given its favorable capacities and operations.

Speaking at the signing ceremony for a tripartite agreement on developing an AI assistant for the petrochemical industry, Afshin highlighted the provisions of the "Knowledge-Based Economy Growth Act" as an opportunity to strengthen ties between academia and industry.

Legal and Financial Support for Research and Development

Afshin explained Articles 11 and 13 of the Act, which provide financial incentives for R&D collaborations:

    Article 13: Research contracts with universities are eligible for tax credits. The Secretariat for Scientific Tax Credit has been established in collaboration with the Tax Administration, allowing up to IRR 2.5 billion to be allocated at the discretion of university presidents.

    Article 11:

        Clause B allows private and state-owned companies investing in R&D to benefit from annual depreciation tax credits.

        Clause T grants full tax credits for university-developed equipment.

Recent applications of these provisions include allocations of IRR 200 billion for Yazd University and IRR 108 billion for Isfahan University of Technology under Clause T.

National AI Platform and Strategic Investments

Afshin also referenced the National AI Platform project, spearheaded by Sharif University of Technology with 80 faculty members and researchers. The first phase of the project is set to launch by March 2025.

He emphasized the importance of AI investment, noting that IRR 10 trillion has been allocated to AI development. "Those investing in AI today will see significant financial benefits in the future, with maximum returns projected within 40-50 years," he said.

Collaboration with Maroun Petrochemical Company

Afshin expressed satisfaction with Maroun Petrochemical Company's selection to implement AI initiatives. He praised the company for hosting numerous student training programs and fostering academia-industry interaction.

Sharif University’s Role in AI Advancement

Seyed Abbas Mousavi, President of Sharif University of Technology, pointed out the untapped potential for collaboration with the petrochemical industry. He expressed hope that this tripartite agreement would mark the beginning of closer industry-academia engagement.

Mousavi highlighted the contributions of Sharif’s electronics and energy research centers to AI development and stressed the importance of utilizing tax credit provisions for mutual benefits.

Targeted University Support

Afshin reiterated the Vice Presidency's focus on supporting universities based on their strengths. "Rather than attempting to strengthen all universities simultaneously, we focus on their unique capabilities, providing targeted support to maximize impact," he stated.

The agreement is expected to pave the way for integrating AI into Iran's petrochemical industry, promoting innovation and sustainable growth.

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