In a landmark announcement at its annual ‘Google for India’ flagship event in New Delhi, Google unveiled a series of groundbreaking AI-powered initiatives, strategic partnerships, and significant investments in India.
Empowering Financial Inclusion:
Google Pay (GPay) will now offer tailored credit products from leading Indian financial institutions, extending formal credit accessibility to individuals and small businesses. This initiative aims to simplify access to credit while collaborating with accredited financial organizations.
Countering Financial Fraud:
To combat the evolving threat of online financial scams, Google introduced ‘DigiKavach,’ an early threat detection and warning system designed to identify emerging financial fraud patterns. However, the system’s effectiveness in safeguarding users remains to be fully assessed.
Fighting Non-Compliant Loan Apps:
In response to predatory loan apps, Google has partnered with The Fintech Association for Consumer Empowerment (FACE). This collaboration is aimed at enhancing market intelligence to take swift actions against non-compliant loan apps that violate Play Store policies in India.
Enhancing Access to Government Schemes:
Google supports the launch of Axis My India’s multilingual super-app, ‘a,’ designed to raise awareness and improve access to government social welfare schemes, employment opportunities, healthcare benefits, and essential day-to-day services. Google Cloud’s infrastructure will help ‘a’ reach every corner of India, with AI capabilities providing personalized information in real-time.
AI-Driven Search Innovations:
Google’s generative AI experiment in Search, the Search Generative Experience (SGE), will soon assist users in India to navigate over 100 government schemes in crucial sectors, such as employment, housing, healthcare, and more. Additionally, Google Lens introduces AI-powered features for identifying skin conditions visually.
Expanding E-Commerce Opportunities:
Google Cloud extends its partnership with ONDC, a state-owned e-commerce platform. Using gen AI and language capabilities, Farmer Producer Organizations (FPOs) can join the ONDC network as merchants to sell their produce online, enhancing their reach across the country.
Tackling Misinformation:
Google.org, through grants, supports organizations combating misinformation. CyberPeace Foundation receives a significant $4 million grant to build awareness and a digital resource hub for online safety and digital literacy. An additional grant of $3.3 million is awarded to Wadhwani AI for AI-powered pest management technology in agriculture.
YouTube’s News Watch Page:
YouTube introduces a watch page for news stories in India, promoting a diverse range of news sources across 11 languages. This immersive experience will provide in-depth news content, spanning video on demand, live streams, podcasts, and Shorts.
Economic Impact of YouTube:
Independent consulting firm Oxford Economics reveals that YouTube’s creative ecosystem contributed over Rs 16,000 crore to India’s GDP and supported more than 750,000 full-time equivalent jobs in 2022.
As Google continues to invest in AI-powered innovations in India, these initiatives promise to reshape the digital landscape and enhance access to information, financial services, and government schemes for millions of people in the country.
