Eco Survey calls for regulatory framework tweaks to align AI use with societal values
1 month, 3 weeks ago

Eco Survey calls for regulatory framework tweaks to align AI use with societal values

Live Mint  

New Delhi, Jan 31 The Economic Survey on Friday said regulatory frameworks will need to be "revisited and amended" to ensure that use of AI aligns with societal values, balancing innovation with accountability and transparency. The pre-Budget document cited an IMF paper to say that governments may be forced to tax incremental profit of corporates that use AI to replace labour. With an entire chapter dedicated to 'Labour in the AI era', the Economic Survey noted that while impact of AI on labour will be felt across the world, the problem is magnified for India, given its size and its relatively low per capita income. "A tripartite compact between the government, private sector and academia can ensure that the gains from AI-driven productivity are widely distributed, taking us in the direction of the ideal inclusive growth strategy," it said, adding that the probability of success in this endeavour is directly proportional to the appreciation of the enormity of the challenge and the gravity of the consequences of failure.

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History of this topic

India is shaping policies for responsible use of AI: Nirmala Sitharaman
Trending News
3 weeks, 6 days ago

India is shaping policies for responsible use of AI: Nirmala Sitharaman

The Hindu  

India is not merely experimenting with artificial intelligence but is also actively shaping policies to ensure that the technology receives the due attention, Union Finance Minister Nirmala Sitharaman has said. Addressing the sixth convocation ceremony at the Indian Institute of Information Technology Kottayam on Saturday, the Minister highlighted how the country is implementing AI at scale across various sectors, emphasising …

AI writing code for the century, says PM Modi
1 month, 1 week ago

AI writing code for the century, says PM Modi

Hindustan Times  

Collective global efforts alone can create governance and standards for artificial intelligence that address risks and build trust while simultaneously promoting innovation, Prime Minister Narendra Modi said on Tuesday while co-chairing the AI Action Summit in Paris. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} Addressing a gathering that included French President Emmanuel Macron, the co-chair of the summit, US vice president JD Vance, …

India Inc warned against overuse of AI
1 month, 3 weeks ago

India Inc warned against overuse of AI

New Indian Express  

BENGALURU: As OpenAI’s ChatGPT and the recent ‘R1’ low-cost AI model by Chinese firm DeepSeek have raised concerns about the future of jobs, the Economic Survey stresses on skilling employees so that artificial intelligence can augment their efforts rather than replacing them. It states that it is time for India to build necessary institutions that will minimise disruptions and maximise …

AI could trigger big shift in labour markets
1 month, 3 weeks ago

AI could trigger big shift in labour markets

Hindustan Times  

India’s labour markets are already shifting in anticipation of artificial intelligence despite the technology’s current limitations, the Economic Survey warned on Friday, calling for institutional frameworks to manage the transition and provide safety nets for affected workers. The survey cited Bloomberg data showing that power consumption by AI data centres is expected to reach 1,580 terawatt-hours, equivalent to India’s total …

Without upskilling, AI may put people out of jobs for long: Economic Survey 2025
1 month, 3 weeks ago

Without upskilling, AI may put people out of jobs for long: Economic Survey 2025

Live Mint  

The Economic Survey 2024-25 cautioned that the transition of India's workforce into the artificial intelligence era has to be smooth to prevent damage and potential unemployment. Robust enabling institutions are essential to help transition workers to medium- and high-skilled jobs, where AI can augment their efforts rather than replace them," the Survey said. Not like Industrial Revolution Sunil Chemmankottil, country …

Economic Survey 2025: If AI cuts jobs, govt may ’tax profits’ from replacement of labour; here’s why
1 month, 3 weeks ago

Economic Survey 2025: If AI cuts jobs, govt may ’tax profits’ from replacement of labour; here’s why

Live Mint  

Economic Survey 2025: The Economic Survey highlighted the growing unease and anxiety around artificial intelligence disrupting labour markets and warned that if companies do not optimise the introduction of AI over a longer horizon or handle it with sensitivity, demand for policy intervention and the demand on fiscal resources to compensate, may become inevitable. Economic Survey 2025: How AI can …

Survey snubs AI impact on workforce, says skilling could put Indians ahead
Trending News
1 month, 3 weeks ago

Survey snubs AI impact on workforce, says skilling could put Indians ahead

The Hindu  

The Economic Survey 2024–25 struck an upbeat tone on the implications that Artificial Intelligence could have on the workforce. In defiance of the concern that AI could replace some jobs, particularly in the Information Technology sector, the Survey says that appropriate skilling would allow Indians “to stay one step ahead of technological developments,” and that harnessing AI “would minimise or …

Economic Survey moots easing of regulations in health, education sectors
1 month, 3 weeks ago

Economic Survey moots easing of regulations in health, education sectors

Hindustan Times  

The Economic Survey 2024-25 on Friday mooted withdrawal of regulations or making compliance voluntary with disclosure where the market can do an effective job in the areas of health and education. Pitching for "trust-based regulation", the survey said that tight regulations increase compliance and supervision burden on the already stretched state capacity. While the education and health system has made …

‘Crisis or catalyst?’: Economic Survey calls for analysing AI impact on workforce ‘very seriously’
1 month, 3 weeks ago

‘Crisis or catalyst?’: Economic Survey calls for analysing AI impact on workforce ‘very seriously’

Firstpost  

In the survey, Chief Economic Advisor V Anantha Nageswaran and his team emphasised how the perception of AI has changed dramatically in recent years The 2024-2025 economic survey elucidated the challenges Artificial Intelligence poses in the Labour Market. The survey pointed out that OpenAI has managed to initiate an “arms race” in developing AI technology among the big tech firms …

Economic Survey highlights India's unique position to harness AI potential
Trending News
1 month, 3 weeks ago

Economic Survey highlights India's unique position to harness AI potential

Hindustan Times  

India's demographic advantage and diverse economic landscape position it uniquely to benefit from AI, the Economic Survey for 2024-25 tabled in the Parliament on Friday afternoon asserted. The Economic Survey, quoting founder of the AI research and deployment company OpenAI, said how it had recently indicated they were expecting to have office ready 'AI workers' by the end of 2025. …

Economic Survey projects India’s GDP growth at 6.3%-6.8% for FY 2025-26
1 month, 3 weeks ago

Economic Survey projects India’s GDP growth at 6.3%-6.8% for FY 2025-26

Hindustan Times  

New Delhi:The Economic Survey, tabled by union finance minister Nirmala Sitharaman on Friday, projects India’s gross domestic product growth in the range of 6.3% to 6.8% for the financial year 2025-26. Union finance minister Nirmala Sitharamantabled the Economic Survey on Friday The survey, which comprises 13 chapters, focuses on global threats to India’s trade and industries and highlights the potential …

Economic Survey 2025: Key ideas over the years and what to expect today
1 month, 3 weeks ago

Economic Survey 2025: Key ideas over the years and what to expect today

Live Mint  

NEW DELHI : New Delhi: The Economic Survey – a critique of the economy’s performance and its management scripted by a team in the finance ministry – offers the Chief Economic Advisor V Anantha Nageswaran an opportunity to propose novel ideas and solutions to the challenges confronting the country, unaffected by the political pressures of the government in office or …

Economic Survey calls for major overhaul of regulations, role of govt in biz
1 month, 3 weeks ago

Economic Survey calls for major overhaul of regulations, role of govt in biz

New Indian Express  

MUMBAI: The economic survey has called for a philosophical approach to governance by significantly rolling back regulations to accelerate economic growth and employment amidst unprecedented global challenges. Whether some of these suggestions will be included in the budget being presented on Saturday remains to be seen, as the suggestions in the economic survey are not binding on the finance minister, …

Survey may address tough economic questions
1 month, 3 weeks ago

Survey may address tough economic questions

New Indian Express  

She says the country does not have a comprehensive document yet on the analytical framework and the road map towards Viksit Bharat 2047, and she hopes this Economic Survey will present that comprehensive framework and the significant components of our ‘graduation dreams’ towards a developed country by 2047. Last year, the survey had famously raised the issue of threat of …

Economic Survey 2024-25 calls for regulatory framework tweaks to align AI use with societal values
1 month, 3 weeks ago

Economic Survey 2024-25 calls for regulatory framework tweaks to align AI use with societal values

New Indian Express  

NEW DELHI: The Economic Survey on Friday said regulatory frameworks will need to be "revisited and amended" to ensure that use of AI aligns with societal values, balancing innovation with accountability and transparency. With an entire chapter dedicated to 'Labour in the AI era', the Economic Survey noted that while impact of AI on labour will be felt across the …

Is AI a threat to your job? Economic Survey flags sectors, income-levels at risk
1 month, 3 weeks ago

Is AI a threat to your job? Economic Survey flags sectors, income-levels at risk

India Today  

The government has spoken about the concerns of labour market disruptions due to developments in the field of artificial intelligence, while stating that the ground wasn't ready yet for large-scale adoption of AI. In its Economic Survey 2024-25, the government also suggests measures to tackle socio-economic disruptions due to AI, including building robust institutions. The Economic Survey quotes an International …

Arun Maira: The impact of AI on Indian jobs is a distraction we can do without
1 month, 3 weeks ago

Arun Maira: The impact of AI on Indian jobs is a distraction we can do without

Live Mint  

AI seems to be in every discussion these days, whether it is about privacy, surveillance, consumer rights, health, education, climate change, jobs or incomes. A 2016 Confederation of Indian Industry report that I guided, titled ‘Future of Jobs in India: Enterprises and Livelihoods,’ noted the wide variation of their estimates. Others are concerned about AI’s dark side: loss of privacy …

Ethical use of Artificial Intelligence: Challenges and opportunities
3 months, 2 weeks ago

Ethical use of Artificial Intelligence: Challenges and opportunities

Hindustan Times  

The journey of Artificial Intelligence traces its roots back to 1950, when British mathematician Alan Turing asked, "Can machines think?" Leveraging techniques like deep learning, limited memory AI drives the functionality of generative AI models, which can produce human-like text, music, and even code. Data privacy and security - With vast data troves powering AI, ensuring robust encryption, anonymisation, and …

The five pillars of AI governance in India
4 months, 2 weeks ago

The five pillars of AI governance in India

New Indian Express  

The US experiences with unregulated growth in social media and finance illustrate the dangers of delayed regulation. Social media platforms initially expanded without oversight, embedding practices that later heightened misinformation and privacy issues, while unchecked financial innovation led to the 2008 crisis, necessitating reactive measures like the Dodd-Frank Act. Finally, David Collingridge’s dilemma—the notion that early intervention is difficult due …

Balancing Innovation and Consumer Protection: A Framework for High-Risk AI in India
4 months, 3 weeks ago

Balancing Innovation and Consumer Protection: A Framework for High-Risk AI in India

Live Mint  

India's approach to regulating high-risk AI systems should be targeted and risk-based, prioritizing consumer protection while fostering innovation. The country should learn from the successes of other nations while considering local needs and challenges. The draft Digital India Act 2023 should be revised to address high-risk AI systems and ensure consumer protection. Existing legal frameworks should be leveraged, and the …

India not yet ready for AI regulations says Experts
6 months, 2 weeks ago

India not yet ready for AI regulations says Experts

New Indian Express  

HYDERABAD: On the second day of the Global AI Summit 2024 at HICC, experts from various fields discussed key aspects of Artificial Intelligence. Arghya Sengupta, Founder & Research Director of Vidhi Centre for Legal Policy, said that India is not yet ready for AI regulations and that small innovators and developers could be most affected and recommended adopting certain codes …

Economic Survey 2023-24: Why does it matter? What are the key takeaways?
7 months, 3 weeks ago

Economic Survey 2023-24: Why does it matter? What are the key takeaways?

Firstpost  

The Economic Survey for the year 2023-24 was tabled in Parliament on Monday setting the tone for the presentation of the Union Budget on July 23 by Finance Minister Nirmala Sitharaman. File Image/Reuters Union Finance Minister Nirmala Sitharaman tabled the Economic Survey 2023-24 on Monday in Parliament, presenting a comprehensive analysis of India’s economic trajectory amid global challenges. Key Takeaways …

Economic Survey | AI casts “huge pall of uncertainty” over jobs
7 months, 3 weeks ago

Economic Survey | AI casts “huge pall of uncertainty” over jobs

The Hindu  

The Economic Survey published on Monday warned against the potential challenge that artificial intelligence could present to the Indian economy saying the “advent of the tech casts a huge pall of uncertainty as to its impact on workers across all skill levels – low, semi and high.” The massive changes owing to widespread adoption of AI “will create barriers and …

Will AI lead to job cuts in India? Economic Survey warns these sectors
7 months, 3 weeks ago

Will AI lead to job cuts in India? Economic Survey warns these sectors

Hindustan Times  

The biggest disruption for the future of work is the accelerated growth in artificial intelligence, which is poised to revolutionise the global economy. As AI systems become smarter and more prevalent, the future of work will change significantly, said the economic survey prepared under the guidance of chief economic advisor V Anantha Nageswaran. If Generative AI significantly boosts the marginal …

Economic Survey flags impact of AI on workers, puts onus on pvt sector to create jobs
7 months, 3 weeks ago

Economic Survey flags impact of AI on workers, puts onus on pvt sector to create jobs

Live Mint  

“…it is in the enlightened self-interest of the Indian corporate sector, swimming in excess profits, to take its responsibility to create jobs seriously,” the Economic Survey said The Economic Survey on Monday highlighted the adverse impact that artificial intelligence can cast on Inda’s working class which in turn can add to the barriers to sustained growth for the Indian economy. …

Economic Survey 2023-24: Tax policies to have major role in tackling income inequality
8 months ago

Economic Survey 2023-24: Tax policies to have major role in tackling income inequality

New Indian Express  

NEW DELHI: Tax policies will have a major role to play in tackling income inequality in the coming years as deployment of technology, like AI, can have a more deleterious impact on employment and income, the Economic Survey said on Monday. The 2022 State of Inequality in India report observed that in India, the top 1 per cent accounts for …

Economic Survey 2024: Why is it crucial for India's economy, when and who presents it
8 months ago

Economic Survey 2024: Why is it crucial for India's economy, when and who presents it

Hindustan Times  

The Economic Survey of India is presented annually by the government and it reviews the state of the economy in the previous year. The Economic Survey is presented for Parliament’s consideration ahead of the Union Budget. Economic Survey is presented in Parliament a day before the Union Budget. It provides a detailed overview of the economic performance of the country …

Stringent regulations could hinder growth of AI in India: experts
8 months, 3 weeks ago

Stringent regulations could hinder growth of AI in India: experts

The Hindu  

As India grapples with the regulatory landscape for artificial intelligence, a sector which has seen rapid development in recent years, experts opine that strict regulations could stifle the country’s burgeoning AI-driven economy. While the high court is scheduled to hear the petition in July, the MeitY on March 1 issued an advisory saying that all generative AI products, like large …

India's AI Spending Forecasted to Reach $5.1 Billion by 2027: Intel-IDC Report
10 months ago

India's AI Spending Forecasted to Reach $5.1 Billion by 2027: Intel-IDC Report

News 18  

Intel and IDC have unveiled a joint report assessing the Artificial Intelligence maturity level across eight markets, including India. The report highlighted that India’s AI spending is forecasted to experience the swiftest expansion among the examined markets, with a projected Compound Annual Growth Rate of 31.5 per cent from 2023, reaching $5.1 billion by 2027. According to the report, India, …

Use of AI has specific implications for the economy: Union Finance Secretary
1 year, 5 months ago

Use of AI has specific implications for the economy: Union Finance Secretary

The Hindu  

Union Finance Secretary T.V. Talking about the increasing influence of AI, he said, “This has a specific implication for the economy, which is, automation of business processes can be much more potent with Artificial Intelligence than it was without AI. This can potentially replace quite a bit of the work that is being done today by accountants and auditors.” Delivering …

Independent body, risk-based framework: TRAI suggests regulations for AI
1 year, 8 months ago

Independent body, risk-based framework: TRAI suggests regulations for AI

Business Standard  

The Telecom Regulatory Authority of India on Thursday called on the government to adopt a holistic regulatory framework for the responsible development of cutting-edge artificial intelligence technologies, reported Economic Times. It has proposed the immediate establishment of an independent statutory authority, 'Artificial Intelligence and Data Authority of India,' for the development of responsible AI and the regulation of use cases …

Technology to contribute 20-25% of Indian GDP by 2025-26: IT Minister Chandrasekhar
1 year, 9 months ago

Technology to contribute 20-25% of Indian GDP by 2025-26: IT Minister Chandrasekhar

The Hindu  

The Indian Government has set a goal of making technology 20-25% of the country’s GDP by 2025, India’s IT Minister Rajeev Chandrasekhar has told Indian American entrepreneurs and asked them to be part of this story of India. “Over the last nine years, the digital economy has expanded, diversified and currently there isn’t a slice or space in the tech …

India’s Moment To Shine? US can’t regulate AI and NVIDIA has ensured it
1 year, 9 months ago

India’s Moment To Shine? US can’t regulate AI and NVIDIA has ensured it

Firstpost  

The US was supposed to formulate regulations that would govern how AI is developed and implemented. Now though, with NVIDIA’s stock reaching a record valuation for a semiconductor company, mainly driven by AI, the chance for any meaningful regulation has gone out of the window. Naturally then, in response to a setup that looks to maximise value over profit, over …

An ‘atmanirbhar’ AI will benefit India. Here’s why
1 year, 10 months ago

An ‘atmanirbhar’ AI will benefit India. Here’s why

Hindustan Times  

ChatGPT may represent a point of inflection in public consciousness about the power of Artificial Intelligence and its key role in society. But the problem is that RBI has shortlisted seven foreign companies, one of which would eventually develop and likely run its AI operations. When applied to the supervision of India’s financial systems, what comes out of such foreign-sourced …

AI Adoption Could Add $500 Billion to India's GDP By 2025: Nasscom
2 years, 8 months ago

AI Adoption Could Add $500 Billion to India's GDP By 2025: Nasscom

News 18  

The adoption of artificial intelligence and data utilisation strategy can add $500 billion to India’s GDP by 2025, a new Nasscom report showed on Thursday. The AI adoption in four key sectors — BFSI, consumer packaged goods and retail, healthcare, and industrials/automotive — can contribute 60 per cent of the total $ 500 billion opportunities, according to “AI Adoption Index” …

A new global standard for AI ethics
2 years, 9 months ago

A new global standard for AI ethics

The Hindu  

Artificial intelligence is more present in our lives than ever. Indeed, the National Strategy on Artificial Intelligence released by NITI Aayog in 2018 highlights the massive potential of AI in solving complex social challenges faced by Indian citizens across areas such as agriculture, health, and education, in addition to the significant economic returns that AI-related technologies are already creating. Additionally, …

AI in India Will Help Add Rs 37 Lakh Crore to Economy by 2025, Says NASSCOM Report
4 years, 7 months ago

AI in India Will Help Add Rs 37 Lakh Crore to Economy by 2025, Says NASSCOM Report

News 18  

NASSCOM, India’s premier IT governance body, has launched its annual report on artificial intelligence, titled ‘Unlocking Value from Data and AI: The India Opportunity’. NASSCOM’s AI report 2020 further states that other key benefits of AI include areas such as optimising logistics through traffic analysis, streamlining lending and financial services through data-based risk analysis, remote diagnostics and resource allocation in …

Investing in data, AI is crucial for country
4 years, 7 months ago

Investing in data, AI is crucial for country

Live Mint  

BENGALURU :India has the right ecosystem and an efficient talent pool to create millions of new-age jobs and drive a data and artificial intelligence revolution to become a global powerhouse, said top executives of Infosys Ltd and Wipro Ltd at a panel discussion organized by IT industry body Nasscom on Tuesday. “We have to identify a comprehensive plan for India’s …

Data, AI can add $450-500 bn to India’s GDP by 2025: Nasscom
4 years, 7 months ago

Data, AI can add $450-500 bn to India’s GDP by 2025: Nasscom

Live Mint  

New Delhi: Data and Artificial Intelligence could potentially add $450-500 billion to India’s gross domestic product by 2025 and drive India’s economic growth, said a report by industry body Nasscom. The report ‘Unlocking Value from Data and AI’ lays down an action plan that can help the country emerge stronger from the covid-19 crisis by taking co-ordinated action to enhance …

Increase in AI Adoption by One Unit Will Boost India's GDP by 2.5 Percent: Report
4 years, 7 months ago

Increase in AI Adoption by One Unit Will Boost India's GDP by 2.5 Percent: Report

News 18  

One unit increase in Artificial Intelligence intensity by Indian firms can result in a 2.5 per cent increase in the country's gross domestic product in the immediate term, a study by Google, IT industry body Nasscom and think tank ICRIER revealed on Monday. "This is a seminal report, estimating a 2.5 per cnet growth in India's GDP if India adopts …

Economic Survey 2018-19 outlines PM Modi's vision to make India $5 trillion economy
5 years, 8 months ago

Economic Survey 2018-19 outlines PM Modi's vision to make India $5 trillion economy

India TV News  

Economic Survey 2018-19 outlines PM Modi's vision to make India $5 trillion economy #Economy@5trillion: Economic Survey 2018-19 presented today by Finance Minister Nirmala Sitharaman recommends creating a virtuous cycle encompassing private investment, jobs, exports and demand. The Economic Survey lays out PM Modi’s ambitious agenda of taking India’s economy to $5 trillion. PM Modi’s vision In an uncertain world, three …

Economic Survey: India can leapfrog on growth in services sector, not manufacturing
7 years, 1 month ago

Economic Survey: India can leapfrog on growth in services sector, not manufacturing

Firstpost  

While 7.5 percent looks achievable it is more likely to be services-driven for at least two more years before investment revives. First, on growth projections, the Survey looks at a higher number than the Central Statistics Office for FY18 which is 6.75 percent against 6.5 percent by the latter. The interesting part is that the Survey expects growth to be …

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