AI will unlock USD 15.7 trillion in global productivity by 2030

India is taking the potential for AI – Artificial Intelligence – to improve productivity very seriously indeed – their government is pushing hard to build on its existing IT strengths and become a world leader in AI – this will give a massive boost to its economy and standard of living whilst helping to solve many international as well as national problems – there is no doubt that AI has already become a major driver of productivity improvement in many sectors globally, and these are only ‘early days’ 

 

Speaking at the inauguration of RAISE 2020 – ‘Responsible AI for Social Empowerment 2020’ – and a summit meeting of hundreds of his nation’s finest brains and businessmen, Indian Prime Minister Shri Narendra Modi said:

  • “At every step of history, India has led the world in knowledge and learning
  • India has proved to be the powerhouse of the global IT services industry – we will continue to digitally excel and delight the world
  • We want India to become a global hub for AI
  • Many Indians are already working in this area – I hope many more do so in the times to come
  • India’s national programme on AI will be dedicated towards the rightful use of AI in solving societal problems
  • We must ensure that human intellect should always be a few steps ahead of AI
  • Let us have no doubts that human creativity and human emotions continue to be our greatest strength – they are our unique advantage over machines – even the smartest of AI cannot solve mankind’s problems without blending with our intellect.”

 

Shri Ravi Shankar Prasad,  Minister for Electronics & IT, Communications & Law & Justice, elaborated on  developing AI capabilities in the country:

  • “The government has set up AI centers of excellence and more such centers will be set up to train the youth
  • Technology at times overwhelms us, but we welcome AI to generate development and promote equity
  • India’s demographic dividend will play a key role in promoting pools of skilled professionals to take the country’s AI ecosystem forward
  • India’s application of AI will become a beacon for the world.”

 

In his address, Mr. Mukesh Ambani,  Chairman, Reliance Industries Ltd, said:

  • “India has the power of data generated by over a billion Indians that would catapult it to becoming a leading global AI player
  • When 1.3 billion Indians are digitally empowered, they will unleash proliferation of digital enterprises that will create faster growth, better standards of living and superior opportunities across society.”

 

Dr Arvind Krishna,  CEO, IBM India, said:

  • “According to independent studies, AI has the potential to raise India’s annual growth rate by 1.3% and add USD 957 billion (i.e. around 1,000 billion) to the country’s economy by 2035
  • At a global level, AI will unlock USD 15.7 trillion in productivity by 2030 and it has the potential to not only boost economic growth but improve the livelihoods of millions around the world.”

 

Professor Raj Reddy, Turing Awardee, emphasised the benefits of AI in bridging language barriers and for managing pandemic situations:

  • “Today, we can do things which were impossible to do 50 years ago
  • Using AI, anyone can translate from any language to any language, ride in a self-driving car and play chess at grandmaster level
  • Looking forward, we can expect AI to help eliminate lockdowns, replace one-size-fits-all education by personalising education based on individual student capabilities and interests, watch any movie and talk to anyone in any language and empower the people at the bottom of the pyramid.”

 

From agriculture to fin-tech, from healthcare to infrastructure, India is witnessing rapid development in the integration of artificial intelligence. On the back of its technological prowess and the richness of its data, India believes it can become the AI laboratory of the world and achieve its vision for social transformation, inclusion and empowerment through responsible AI.

Website: http://raise2020.indiaai.gov.in/

 

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