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AI is a Kinetic enabler for growth of Indian technology ecosystem: MoS MeiTY

New Delhi, 27th October 2021: Artificial Intelligence is a Kinetic enabler for the growth of Indian technology ecosystem, stated Shree Rajeev Chandrasekhar, Minister of State for Skill Development and Entrepreneurship and Electronics and Information Technology (MeitY), Government of India at the 5th ASSOCHAM Conference - Artificial Intelligence for Resilient Growth, organized by The Associated Chambers of Commerce and Industry (ASSOCHAM) through Virtual mode.

Speaking at the event, Shree Rajeev Chandrasekhar mentioned that Artificial Intelligence can be a big business for some, but for the Government of India, it means 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 Government’s approach towards AI, he further added “We will create AI which will have built into it – the qualitative elements of risk management & ethical use.”

Shree Rajeev Chandrasekhar also highlighted three major factors that shall create tremendous momentum for the growth of AI in India. First, He mentioned about India soon becoming the largest connected Nation as the rural broadband connectivity programme Bharat Net seeks to connect rural households with Internet. At present, there are around 800 million Indians using the Internet. This figure is expected to cross 100 crores over the next 2 years. Second, the Digital India Campaign has already positioned India as a leader in innovation in public services, Fintech, Health & Education etc and third, the accelerated digitalization of the government and the overall economy shall increase the rate of digital adoption in the country.

Shree Rajeev Chandrasekhar also highlighted the proactive approach of the Narendra Modi Government in translating potential into reality. Citing the success of the world’s largest technology driven vaccination campaign, he remarked that “For decades multiple narratives have been built around India’s rich demographic dividend to highlight India’s potential. However, over the last 7 years, we saw how combination of decisive leadership and proactive policies can convert potential into reality.”

Shree Rajeev Chandrasekhar concluded by saying that “Our ambitions in 2021 are more than what they were in 2014 and significantly much more than any time before that. We have absolute clarity on these ambitions and on the road map ahead. The Math of 1 trillion Dollar digital economy is clear in our mind.”

Mr Vineet Agarwal, President, ASSOCHAM and Managing Director, Transport Corporation of India Ltd. (TCIL) stated that the Digital India initiatives has 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 percent 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.

Mr Agarwal also explained that the artificial intelligence could be the source 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.

Mr Kulmeet Bawa, President and Managing Director, SAP Indian Subcontinent stated that the pandemic has 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 can 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 stated 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 & eCommerce stated that artificial intelligence has the potential to add $957 billion of 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 stated that the time has 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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