In a thought-provoking discussion on Akashvani's Spotlight program, experts shed light on the significant implications of the B20 Summit 2023, hosted by India under the G20 umbrella. Jiten Kumar Jain, an IT and Cyber Security Expert, engaged in a candid conversation with Nishit Kumar, Anchor, touching upon India's role in shaping global policies around artificial intelligence (AI) and cryptocurrency.
The B20 Summit, organized by the Confederation of Indian Industry (CII) ahead of the G20 Summit, bears the theme 'Responsible, Accelerated, Innovative, Sustainable, and Equitable.' Jiten Kumar Jain emphasized that this is a pivotal moment for Indian businesses and the IT industry. India's remarkable growth, leadership in technology, and a surge in unicorn startups have positioned it as a global leader. Prime Minister Narendra Modi's insights into upcoming policies for cryptocurrencies and AI signal India's commitment to shaping the future of these technologies.
Discussing cryptocurrencies, Jain highlighted the challenges posed by their rapid adoption worldwide. He emphasized the need for regulation to prevent unethical use and maintain control over sovereign currencies. While India had initially adopted a ban on cryptocurrencies, the Prime Minister's recent statements suggest a shift towards regulation rather than an outright ban. This change aims to accommodate cryptocurrencies within a regulatory framework while curbing unethical practices.
Jain addressed the launch of India's Central Bank Digital Currency (CBDC), stating that it might not fit the traditional definition of a cryptocurrency due to its centralized nature. He stressed that true cryptocurrencies are characterized by anonymity, decentralization, and a lack of asset backing, features that CBDCs may not possess.
Moving on to AI, Jain explored the ethical challenges posed by its rapid advancement. He highlighted key questions surrounding AI, including concerns about job displacement, responsibility for AI-driven errors, wealth distribution, and the impact of AI on human interactions. Jain stressed the importance of avoiding bias in AI algorithms and addressing the unintended consequences of AI research.
To address these challenges, the Prime Minister called for a global regulatory framework for AI, emphasizing the need for cooperation among nations. Jain acknowledged the difficulty of regulating AI, especially in the face of rogue actors, but stressed the importance of establishing guidelines for ethical AI development and usage.
Regarding AI's impact on education, Jain expressed concerns that over-reliance on AI tools like ChatGPT could hinder children's ability to learn from mistakes, practice, and interact with peers. He suggested limiting the use of such tools in schools to preserve the essence of learning through human interactions and independent research.
The B20 Summit 2023 provides India with an opportunity to shape global policies on AI and cryptocurrencies. The Prime Minister's call for ethical AI and responsible cryptocurrency use reflects India's commitment to balancing innovation with regulatory safeguards.
Listen to full discussion at: https://www.youtube.com/live/nA37xlH9g9o?si=tjtIQowTQHVjIKQG
