Government is committed to create adequate capacities of AI technologies: Secretary, MEITY at CII
Application of AI technologies have significant benefits for different sectors of the economy and the Government is committed to create adequate capacities of those AI technologies that are relevant and support the country’s growth, said Mr S Krishnan, Secretary, Ministry of Electronics and Information Technology, Government of India. He was speaking at the session on “AI: What does the Future Hold?” at CII Annual Business Summit 2024 with the theme “Co-Creating the Future Responsibly: Role of Business” today at New Delhi.
Mr Krishnan, touched upon the pillars of IndiaAI program and stressed that it will catalyze India’s AI ecosystem and position it as a force shaping the future of AI for India and for the world. He opined that AI will create more jobs and a large pool of STEM trained graduates will get absorbed. However, a massive amount of re-training and re-skilling would be required.
On the need for regulatory framework for AI, Mr Krishnan shared that new regulation would be made following what other countries have adopted and learning from their experiences.
Prof Bharat Bhasker, Director, Indian Institute of Management, Ahmedabad shared that AI is amplifying the human capability and unlocking new levels of efficiency. It will transform the way we operate in the next 5-10 years. Education is one sector which will and is already witnessing the impact, he stated. He cited the example of an online Document Translation Tool, Anuvadini, developed by AICTE which is empowering mases by giving access to education in their regional language.
Mr Tejpreet Singh Chopra, Founder and CEO, BLP Group, said that the AI market is expected to grow exponentially in the next 5-7 years, given the speed at which we have been able to display this technology. We are already witnessing adoption of AI in sectors like health care, financial sector and banking. It is set to change the way we produce in the Industrial sector. India’s strengths in cloud, computation, ability to write advance algorithmic and talent pool will help us lead in AI adoption and compete with the best. He also shared that fundamentally AI is not a challenge but collecting data and lack of required skill to make these data communicate is a challenge.
Mr Vinayak Dalmia, Co-Founder and Managing Director, 3rditech and 114ai, stated that it is important to understand what generative AI is and what it is not. It is going to be the game changer and India will take it to the world.
Mr Rajiv Memani, Vice President, Confederation of Indian Industry (CII) moderating the session emphasised that India is at an "inflection point" in the artificial intelligence (AI) ecosystem. The entire ecosystem around AI adoption is very powerful and the way it is going to disrupt industry and various sectors in near future will be unprecedented. India is the largest producer and consumer of data making it a fertile ground for testing various AI platforms. Further the availability of large talent pool of STEM will make it possible for India to move with the required speed and scale to embrace AI quickly, shared Mr Memani.
17 May 2024
New Delhi