India is all set to unveil AI regulations framework

India is poised to introduce its inaugural draft of the Artificial Intelligence (AI) regulations framework by June-July 2024 itself , as announced by Rajeev Chandrasekhar, Minister of State for Skill Development and Entrepreneurship, Minister of State for Electronics and Information Technology, and Minister of State for the Ministry of Jal Shakti.

The disclosure, made during the Mumbai Tech Week on February 19, 2024 underscores the government’s commitment to leveraging AI for multifaceted advancements, particularly in economic growth, healthcare, and agriculture.

Chandrasekhar emphasised the strategic deployment of AI to attain robust economic goals, with a specific focus on its transformative impact on healthcare, drug discovery, agriculture, and enhanced farmer productivity.

Unlike a competitive race with advanced AI models like ChatGPT, the Minister clarified that the government’s intent is not about securing mere bragging rights. Instead, the objective is to harness AI capabilities to address critical societal needs and contribute to the betterment of sectors like healthcare and agriculture.

During the Mumbai Tech Week, Chandrasekhar articulated the government’s broader vision for AI adoption, emphasising its role in education. The plan includes robust support for education initiatives, with a particular emphasis on catering to the linguistic and diverse dataset needs of India.

This comprehensive approach aims to make AI accessible and beneficial across a spectrum of applications and linguistic contexts.

Echoing recent actions by the Reserve Bank of India (RBI) against Paytm Payments Bank, Chandrasekhar underscored the importance of legal compliance in the digital economy.

He warned entrepreneurs about the risks associated with disregarding regulations, emphasizing the potential ‘severe consequences’ for non-compliance. This stance aligns with the government’s commitment to fostering a regulatory environment that ensures the responsible and lawful deployment of AI technologies.

Highlighting the qualitative structural changes in India’s policy landscape, Chandrasekhar pointed out that the country’s policies are enabling and aim to create a momentum shift.

He also stressed onto the need for a globally competitive talent pool, particularly in areas like semiconductors and AI, where research and innovation capabilities are crucial for staying at the forefront of technological advancements.

Wrapping up, the upcoming AI regulations framework in India reflects a strategic and comprehensive approach to harnessing AI’s potential for societal and economic development.

The government’s commitment to legal compliance and its emphasis on creating a globally competitive talent pool underscore a balanced approach that seeks to derive the maximum benefit from AI technologies while ensuring responsible and ethical deployment.