AI Regulation and Development in India

Regulatory Approach to AI

Union Finance Minister Nirmala Sitharaman emphasized the need for regulation to match the pace of AI advancements to ensure it serves the common good. She advocated for a "soft-touch" regulatory mechanism that encourages responsible application without stifling innovation.

• AI should aid in creating better urban areas.
• Regulation should adapt quickly, akin to technology's sprint.
• AI's benefits should be harnessed for humanity's good.

Workforce Skilling in AI

• Sitharaman noted the need for AI-driven upskilling programs amidst threats of job displacement.
• Emphasized the mismatch between industry requirements and AI-ready human resources.
• Government initiatives are focusing on upgrading industrial training to ensure relevance.

AI Applications and Aspirations

The application of AI spans sectors like health, agriculture, and urban development. Sitharaman highlighted the potential of AI to offer in situ solutions.

• India aims to lead in AI globally, beyond just keeping pace with others.

Innovation and Regulation

Union Minister of Electronics and Information Technology  emphasized India’s innovation-first approach to AI, ensuring regulation supports rather than hinders innovation.

NITI Aayog's AI Roadmap

The "AI for Viksit Bharat Roadmap Report" suggests that India's robust STEM workforce and growing tech capabilities position it to capture 10-15% of global AI value.

• Projected GDP growth under AI adoption could reach $8.3 trillion by 2035.
• AI could contribute an additional $500-600 billion to GDP.

NITI Aayog Initiatives

A frontier tech repository and the Frontier 50 Initiative were launched to support aspirational districts in adopting impactful technologies.

• The program aims for widespread AI adoption and skilling.