The Indian government is developing AI regulatory guidelines, which should be released by June or July of this year, according to the Minister of State for Electronics and Information Technology.
The government is working on a draft AI regulatory framework and will reveal it shortly, according to Minister of State for Electronics and IT Rajeev Chandrasekhar, who was speaking at a Nasscom event in the capital.
“We intend to exploit AI to its fullest for achieving the goals of our economic growth, ensuring a huge impact on healthcare, agriculture and farmer productivity among others,” he stated in a post on X. This was stated by Chandrasekhar during Mumbai Tech Week.
The government has been delaying the release of a framework for AI regulations for a long time. The IT Minister had stated plans to release the framework’s initial draft as early as May 2023. But the same hasn’t been made available yet.
The minister stated, “The aim is to harness AI for economic growth and address potential risks and harms.” He also added, “We will fully realize the potential of AI but set up the guardrails as well to prevent misuse.”
In the past, Chandrasekhar has also given a preview of what to anticipate from the AI framework. He said, “India’s approach involves establishing principles and a comprehensive list of harms and criminalities related to AI.”
India’s AI market is predicted to develop at a 25% compound annual growth rate (CAGR) to reach $17 billion by 2027, according to a Nasscom-BCG analysis that was released at the event. AI investments are also expected to rise at a similar rate.
The minister posted, “Use of credible fact checkers to label misinformation is good.”
He also added, “All internet platforms/intermediaries in India have a legal obligation to ensure no misinformation/deepfakes are posted in their platforms by their users.”
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