"Karnataka Chief Minister B.S. Yediyurappa agreed to set up the centre at the behest of WEF in Bengaluru for ensuring a level-playing field for global investors and industrialists," said the official in an e-mail to from Davos in Switzerland
A 10-member delegation from the southern state is participating in the 50th WEF at Davos in Switzerland as part of the Indian delegation led by Union Commerce and Industry Minister Piyush Goyal and others.
By signing an agreement with WEF Managing Director Morat Sonmez for setting up the centre, Karnataka became the first state in the country to offer a competitive environment for investors.
"The agreement was signed by Yediyurappa the chief minister and Sonmez on the margins of the Karnataka Pavilion inauguration at the 4-day world's premier economic summit," state additional secretary P. Ravikumar said in the statement.
Interacting with the state delegation, Sonmez told the chief minster that global investors were worried about the ethical practices in business, as governments the world over had failed to realise the need for having a centre for Internet of ethical things.
"If the Karnataka government is serious to do business with global investors, it should first set up the centre in partnership with the WEF," asserted Sonmez.
Sonmez was surprised by the prompt response of the chief minister to set up the centre, which would create a favourable climate for global investors to start their operations.
"This centre will keep a check on the misuse of artificial intelligence," Sonmez noted.
Inaugurating the state pavilion at the Forum venue later, Yediyurappa assured global investors of providing ease of business for starting their business in any sector.
"We look forward to engage with CXOs to invest in Karnataka, especially in strategic research that can help the state becoming a major player in global agenda," said Yediyurappa on the occasion.
"As a leading industrial state in India, we can make Karnataka a major player on the global agenda for the growth of industries," added Yediyurappa.
State Industries Minister Jagadish Shettar, chief secretary T.M. Vijaybhasker and state industries secretary Ramana Reddy were among the delegates from the state present at the event.
WEF's India and Asia regional agenda head Viraj Mehta was also present on the occasion.
Viraj Mehta head regional agenda -India and Asia was also present on the occasion.
( With inputs from IANS )