India to Legislate AI Regulations After Election

In the last few months, problems like Deepfakes have increased due to the use of Artificial Intelligence (AI). To deal with this, regulations related to AI can soon be brought under legal ambit in the country. For this, there is a plan to prepare a regulatory framework after the Lok Sabha elections.

Electronics and Information Technology Minister, Ashwini Vaishnaw told in an interview to a business newspaper that AI There is a plan to create a regulatory structure for it. He said, “There was an idea to create a regulatory body for this but we do not think it will be enough. We believe that this regulation should be done in a legal manner. We have discussed this with the industry. After the elections, we will formally start the process of consultation to move towards making a law.” Ashwini said that the regulations will be balanced and it will be ensured that the creativity of innovators is not harmed.

Last year, with the increasing use of AI, problems like Deepfake also came to the fore. After this, the government banned social media platforms Facebook And YouTube was also warned about deepfakes. Recently, Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar had said, “AI will be used to achieve our goals of economic growth. This will have a big impact on sectors like agriculture and healthcare. We do not want to compete with ChatGPT. We are not going in this direction. The focus will be on many languages ​​of the country.”

The country’s AI market is expected to grow at a compound annual growth rate (CAGR) of 25-35 percent to reach $17 billion by 2027. A report by Nasscom, an organization of software companies, and Boston Consulting Group states that the reasons behind this growth will be increasing expenditure by enterprises on tech and investment in AI. Last year, Artificial Intelligence (AI) had a high ranking in searches done on the internet search engine Google. It left behind searches done through keywords related to crypto, Bitcoin and Web3. Last year, AI-related keywords like ChatGPT were searched more.