New Delhi, 15 September (IANS). Finance Minister Nirmala Sitharaman said on Monday that Artificial Intelligence is developing rapidly and cannot be seen as a stable technique.
Finance Minister Sitharaman stressed that as AI is developing in real time, there is a need to be cautious. Also, it is necessary to ensure that morality is not ignored.
On the occasion of the release of NITI Aayog’s report ‘AI for Developed India: The Opportunity for Excellent Economic Growth’, Finance Minister Sitharaman said that the regulation should also move fast like technology.
The Finance Minister said, “If the technology is moving fast, then the regulation should also move forward rapidly.”
The Finance Minister said that the government is constantly discussing with NAScom and other stakeholders about AI.
He said that our aim is not only to maintain coordination with global development, but to play a leadership role in adopting AI responsibly.
The Finance Minister said, “We do not want to be left behind, but we cannot live on par, we have to play a leadership role.”
The Finance Minister clarified that the rules should have a balance between encouraging innovation and ensuring responsibility.
Explaining his point, he said, “We do not want regulation that can eliminate technology. We want regulation because we want a responsible application.”
He also referred to setting up AI center for education, agriculture, health and urban areas declared in the Union Budget.
Finance Minister Sitharaman said that AI should be used to provide solutions to better cities and better life situations.
The Finance Ministry is also working with the Reserve Bank of India, developing a sandbox for testing various AI-based applications.
Also, Finance Minister Sitharaman warned that AI brings challenges, including its possible impact on jobs and wide society.
He said, “AI can be a powerful means of progress, but it should be carefully managed to ensure that India’s demographic dividend does not have a negative impact.”
-IANS
SKT/
