Artificial Intelligence is a Kinetic enabler for the growth of the Indian technology ecosystem, said Rajeev Chandrasekhar, Minister of State for Skill Development and Entrepreneurship and Electronics and Information Technology (MeitY), Government of India at the 5th ASSOCHAM Conference on Artificial Intelligence for Resilient Growth through Virtual mode.
Speaking at the event, Chandrasekhar mentioned that Artificial Intelligence could be a big business for some, but for the Government of India, it means the use of AI – algorithms, layers on existing stacks to improve governance delivery, agricultural programmes, defence, security and intelligence related programmes, revenue, tax collection as well as programmes related to justice and law. Sharing the government’s approach towards AI, he further added “We will create AI which will have built into it – the qualitative elements of risk management and ethical use.”
Chandrasekhar also highlighted three major factors that should create tremendous momentum for the growth of AI in India. First, He mentioned India soon becoming the largest connected nation as the rural broadband connectivity programme BharatNet seeks to connect rural households with the Internet. At present, there are around 800 million Indians using the Internet. This figure is expected to cross 100 crores over the next two years. Second, the Digital India Campaign has already positioned India as a leader in innovation in public services, fintech, health and education and third, the accelerated digitalisation of the government and the overall economy should increase the rate of digital adoption in the country.
Speaking on the occasion, Vineet Agarwal, President, ASSOCHAM and Managing Director, Transport Corporation of India (TCIL) said that the Digital India initiatives had the potential to transform India digitally and would also help India to become a growth leader globally.
“India’s digital transformation market has the potential to reach $710 billion by 2024 which is a 74.7 per cent growth. Also, Artificial Intelligence is expected to add around $15.7 trillion to the global economy by the year 2030 which is at present the combined output of both India and China put together,” he said.
Agarwal also explained that Artificial Intelligence could be the source of resilient growth in India. “Artificial Intelligence engines feed and generate a lot of data, so it is extremely important not only to protect and secure the data but also the rights of the citizens,” he said.
Kulmeet Bawa, President and Managing Director, SAP Indian Subcontinent said that the pandemic had accelerated the adoption of tools like Artificial Intelligence. “India has the potential to become a $1trillion digital economy. There is a need to make some fundamental changes at the organisational level to help them get a competitive advantage over others,” he said.
He explained that Artificial Intelligence could be effectively used in sectors like healthcare which would give a boost to preventive healthcare segment.
Speaking on the sustainable future, Dr Rohini Srivathsa, National Technology Officer, Microsoft India said that there is a need for technology and science to come together to solve issues faced by the world.
“On issues like climate change, there is a need to join hands with the global community to address the challenges. The power of data can be used to find solutions to such issues,” she said.
Dr Lovneesh Chanana, Chairman, ASSOCHAM National Council on IT/ITeS & e-Commerce said that Artificial Intelligence has the potential to add $957 billion of the Indian economy by the year 2035.”
“People are not only the users of data but also feed to it. Government and the stakeholders need to take care of this aspect,” he said.
Dr Chanana said that the time had come to develop a tendency to accept smart machines as co-workers. “Technology has already started reshaping the thought process,” he added.
India has the potential to become the most connected country in the world over the period of next two years due to its rapid digital adoption.
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