Prime Minister Narendra Modi has called for a global framework on cryptocurrencies and an ethical usage of artificial intelligence (AI) during his address at the B20 Summit India 2023. He emphasized the need for a maximum integrated approach to tackle the challenges associated with cryptocurrencies. Modi also stressed the importance of preparing a global framework that considers the interests of all stakeholders.
In addition, the Prime Minister highlighted the significance of a similar approach regarding AI. He urged global businesses to observe an ‘International Consumer Care Day’ once a year, emphasizing the need to prioritize consumer care. Modi also expressed that businesses should focus on supply chain resilience and sustainability, rather than just the bottom line, as they have successfully transcended borders and boundaries.
Modi acknowledged India’s role as the face of the digital revolution, particularly in the era of Industry 4.0. He emphasized the country’s position in building an efficient and trusted global supply chain. In order to address the challenges posed by cryptocurrencies and AI, the Prime Minister called for a concerted effort on a global scale, emphasizing the need for collaboration and cooperation among stakeholders.
The Prime Minister’s call for a global framework on cryptocurrencies comes at a time when the market is witnessing rapid advancements and increasing interest from investors. With cryptocurrencies gaining popularity and acceptance worldwide, the need for clear regulations and guidelines is becoming more crucial. A global framework would help ensure transparency, security, and stability in the cryptocurrency market while protecting the interests of all stakeholders involved.
Similarly, Modi’s emphasis on ethical AI usage highlights the growing concerns regarding the potential misuse of AI technologies. As AI continues to evolve and become more integrated into various industries, it is essential to establish ethical standards and guidelines to prevent any potential risks or harm. An ethical approach to AI would ensure that the technology is used responsibly and for the greater benefit of society.
Overall, Prime Minister Modi’s call for a global cryptocurrency framework and ethical AI usage reflects the need for a collaborative and responsible approach in navigating the challenges presented by these emerging technologies. By addressing these issues on a global scale, it will be possible to establish a more secure and ethical digital landscape for the future.
