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Should generative AI applications be regulated in India? Impact of AI in India

The emergence of Artificial Intelligence has made a revolution in every sector. Like other countries, this advanced technology has had an immense influence on India. Artificial Intelligence has significant impact on different sectors like healthcare, agriculture, finance and other areas. India is recognized as the fastest growing economy in the world. It is expected that India will become the third largest economy by 2027. AI has also made huge improvements in the field of digital payment, risk management, and fraud detection. Generative AI in India has significant impact on the employment sector in India. There is a fear of losing employment due to automation in different sectors, but there is a hope that new opportunities will be created soon. 

Should generative AI applications be regulated in India?

AI market and present scenario in India

As per the report 2023, the AI market of India has noticed a massive surge to nearly $4.1 billion, and this reflects immense growth in AI technologies. These alterations are not only related to technological advancement, these changes using generative AI applications also generate huge impact on the growth of productivity. 

As per the data of Nasscom, at present India currently has nearly 4,16,000 professionals who are skilled in the field of Artificial Intelligence. As per the latest research it has also been recorded that if India can use AI latest technology generative AI model at its full potential, the country can add nearly $359 to $ 438 billion to the Indian economy during the Fiscal year 2029-2030. 

Keeping in view the recent growth in AI, the Indian Government has felt the urge to make necessary amendments to the Information Technology Act 2021. The Government has taken this initiative to regulate both Artificial Intelligence (AI) and Generative AI (Gen AI). The aim behind this implementation is to establish a new model for principled practices of AI and maintain technological reliability. 

As per the Honourable Union Minister Rajeev Chandrasekhar, the Government is trying its best to develop the infrastructures required for implementation of AI and generative AI applications. The Government also understands that this development will help the Information Technology sector in India gain nearly a trillion dollars by the end of 2026.

The Government has also mentioned that the updated IT rules will not be biased and it will be simple enough so that the IT sector can follow the rules correctly. There is hope that the IT sector will follow the rules and regulations to implement language models to guide the machines. 

The updated regulations, which will not be biased in any way, will control the platforms that use AI model to teach their machines. The Government of India has recently made an announcement that every tech-based company must get permission from the Meity or Ministry of Electronics and Information Technology before these companies release any AI generative tools or technology. This announcement also warns that these AI models should not make any impact on the following electoral process. 

Initiatives taken by Govt. of India

The Indian Government is taking the necessary steps so that tech-companies can implement AI models or tools. The Government has approved an investment of Rs 10,371.92 crore for the expansion of AI governance framework all over the country.

The entire AI mission will be controlled by the DIC or Digital India Corporation, and it will be executed by the Independent Business Division or IBD. The Government has included the following components to make the AI mission successful. 

  • IndiaAI Compute Capacity
  • IndiaAI Innovation Centre
  • IndiaAI Database Platform
  • IndiaAi Application Development Initiative
  • IndiaAi Future Skills

The Ministry has also confirmed that the Government is also taking the initiative to implement LMMs or Large Multimodal Models. Additionally, the Government will also extend the AI trend by introducing Artificial Intelligence applications in perilous sectors.

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