The emergence of generative artificial intelligence during India’s digital revolution is nothing short of revolutionary. Fast adaptation is essential to remain competitive in this digital age as technology is reshaping sectors at a rapid pace. However, this digital revolution presents a new problem, one that calls on businesses, decision-makers, and experts to develop a regulatory framework for the artificial intelligence (AI) era.
Gen AI plays a critical role in operations, sales, marketing, and product development, according to a 2023 McKinsey report. International IT professionals are always emphasizing the need for laws requiring compliance evaluations prior to AI systems being released onto the market, in addition to strong enforcement mechanisms afterward.
Governments from all around the world are struggling with the necessity of regulating AI. The European Union (EU), Brazil, Canada, and Japan have made significant strides in developing regulatory norms. The UN Security Council is a resolute advocate for an international AI governance structure that is morally and responsibly oriented.
India does not have any particular AI regulations, despite being governed by the Ministry of Electronics and Information Technology (MeitY). AI-related crimes are covered by current cyber laws. Leader of the sector Alok Bansal, however, demands a complete framework that places an emphasis on fairness, responsibility, openness, and the protection of individual rights.
The regulatory search is made more urgent by the rapidly growing Gen AI startup environment in India, as highlighted in NASSCOM’s 2023 research. Given the speed at which Gen AI is developing, regulators must take into account elements like superior training data, more financing, and specialized Gen AI tech hubs when formulating regulations. Clear policies promise to be the compass for India’s AI-powered future as the digital frontier develops, the author says.
