Sitharaman warns India can't lag as AI race speeds up

Finance Minister Nirmala Sitharaman addressed artificial intelligence development during the NITI Aayog report launch on Monday. She emphasized that technology advances at unprecedented speeds while requiring ethical oversight. Regulatory frameworks must advance alongside technological progress to maintain effectiveness. The government engages with Nasscom and industry leaders to shape responsible adoption strategies. India seeks global leadership rather than mere participation in artificial intelligence advancement.

Sitharaman stressed balanced approaches that foster innovation without compromising safety standards. The Union Budget allocated resources for establishing artificial intelligence centers across education, agriculture, healthcare, and urban development sectors. The Reserve Bank of India collaborates on testing environments for AI applications through regulatory sandboxes. These initiatives aim to improve urban living conditions and provide practical solutions for citizens.

The minister acknowledged potential workforce disruption and societal challenges from rapid AI implementation. Careful management prevents negative impacts on India's demographic advantages during the transition to developed nation status. Responsible growth remains central to the Viksit Bharat vision.