The Prime Minister of India, Narendra Modi, recently met with OpenAI CEO, Sam Altman, to discuss various aspects of Artificial Intelligence (AI), including global regulation and its potential in India’s tech ecosystem. Altman’s company, OpenAI, is involved in AI technologies and created ChatGPT. During the session, Altman stressed the need for global regulation that can prevent the downsides of AI. While the company is currently self-regulating, it is working to ensure that AI is safe before releasing it. Altman believes that the world should not be left entirely in the hands of corporations.
The Indian Prime Minister welcomed all collaborations that can accelerate the country’s digital transformation to empower its citizens. Altman said that India has immense opportunities for AI and that he plans to fund startups in the country. Given India’s strong IT industry and vast data set, AI-powered utilities can tap huge potential.
According to NASSCOM data in February of this year, AI employment in India is estimated at around 4,16,000 professionals, with an estimated growth rate of around 20-25%. Additionally, AI is expected to bring an additional $957 billion to the Indian economy by 2035.
Many countries are using AI technologies to improve service delivery and reduce human intervention. However, fears of job cuts persist as the technology evolves. As such, global regulation is necessary to ensure that AI is used only for the public good.
Altman is currently touring six countries, including Israel, Jordan, Qatar, the United Arab Emirates, South Korea, and India, to explore the opportunities and challenges of AI. The world is becoming more reliant on AI technologies, and collaborations that prioritize collaboration and cooperation are crucial to avoid the negative impacts of AI’s downsides.
