In a significant proclamation at the global AI summit hosted by Britain, Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar, underscored India’s rapid strides in digital transformation over the past eight years.
Chandrasekhar elaborated that India has substantially elevated its digital economy from representing approximately 4.5% of the total GDP to a formidable target of 20% by the fiscal year 2025-26, with the nation currently standing at 11% of digital GDP. Notably, the digital economy and the innovation sector are demonstrating remarkable growth rates, outpacing the non-digital segments of the GDP by 2.5 to 3 times.
The global AI summit, attended by esteemed delegates comprising international digital ministers, technology industry leaders, distinguished academics, and civil society representatives, focused on shared risks arising from emerging AI technologies and explored potential mitigations.
Chandrasekhar emphasized the significance of international collaboration in shaping the future of technology, acknowledging that this era is witnessing unprecedented opportunities in technology and innovation, thus warranting collective efforts and partnerships between nations.
The Global AI Summit serves as a pivotal platform for policymakers, investors, and innovators to engage in substantive discussions about AI. The event delves into the state of AI, investment propositions, commitments, and governance.
Prime Minister Narendra Modi’s advocacy for a coalition of nations to steer the course of technological innovation has been a longstanding proposition, reflecting his belief that the future of technology, innovation, and regulatory frameworks should be guided by a consortium of countries rather than a unilateral approach. Chandrasekhar further accentuated that the institutional framework for technology and innovation should exhibit continuity and strategic clarity, a perspective that underpins India’s approach to the digital realm.
The United Kingdom, in collaboration with its global partners, announced an £80 million initiative to fund artificial intelligence projects worldwide, commencing with endeavors in Africa. This initiative underscores the UK’s commitment to forging partnerships that employ cutting-edge technology to address global challenges.
Minister Rajeev Chandrasekhar, representing India, participated in the two-day summit. The £80 million funding project is the fruit of a collaboration between the United Kingdom, Canada, and the Bill and Melinda Gates Foundation, aimed at promoting “safe and responsible” AI development. This initiative aligns with the UK’s dedication to investing in collaborative efforts that leverage state-of-the-art technology to tackle global issues.
[Please note that this story has been published from a wire agency feed with only the headline modified.]
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