|
What happened:India's Ministry of Electronics and IT has decided not to pursue any AI regulations at this time, a move that could offer a boost to the country's shortage of AI-first startups. Details:India's government views AI as a game-changer for entrepreneurs and businesses in the country. Unlike the European Union or China, India has decided to take a hands-off approach to AI calling it a "significant and strategic" area for the South Asian market. What the numbers say: According to a recent study from KPMG and The University of Queensland, people in India are the most likely to see AI regulations as unnecessary. While most respondents in 17 other countries said they believe AI regulation is needed, India was the exception. People in India also expressed the most confidence in AI, with 75% of Indians surveyed saying they would place their trust in AI, followed by 67% of Chinese and 57% of South African respondents. The big picture: While India's AI and technology ecosystem currently lags behind other global leaders, its ministry views AI as a power boost for the digital economy and innovation. A relaxed approach to AI governance could encourage more talent and startups to enter the field, even while ethical concerns about the technology remain.
|
