India’s approach towards AI growth in the South Asian market is to not regulate it, as they consider it a significant and strategic sector for the nation. This decision comes amidst growing concerns regarding the need for increased scrutiny of the technology’s rapid advancement.
The Ministry of Electronics and IT has conducted an assessment of ethical concerns and risks related to AI, and is taking steps to develop a strong AI industry in the country through policy and infrastructure measures. However, no legislation is planned for regulating its growth.
The government ministry stated that the growth of AI will have a significant impact on entrepreneurship and business development in India. They believe that AI is a valuable tool for advancing the digital economy and innovation ecosystem. The government is utilizing AI to offer personalized and interactive services to citizens through digital public platforms.In spite of the burgeoning interest in artificial intelligence in the US and many developed markets, India has seen a limited number of startups entering the field. A strategic initiative from New Delhi could potentially encourage talented individuals to explore opportunities.
India’s decision, which impacts the world’s second-largest internet market, comes as tech entrepreneurs and academics increasingly call for government intervention in AI. Last week, more than 1,100 signatories, including Elon Musk and Steve Wozniak, signed an open letter urging “all AI labs to immediately pause for at least 6 months the training of AI systems more powerful than GPT-4.”
