By the end of March or the beginning of April, India will have a huge dataset artificial intelligence (AI) program, according to the Union Minister of State for Electronics and IT Rajeev Chandrasekhar (March 7).
As the Indian government just announced in the Budget, we will launch the India AI initiative by the end of March or the beginning of April. This program will have three centers of excellence and one of the largest publicly available datasets in the world.
In the Union Budget 2023, Finance Minister Nirmala Sitharaman announced that the nation would establish three centers of excellence for AI in prestigious educational institutions as a start toward realizing the goal of making AI in India.
Chandrasekhar remarked during his speech at the event that the future generation of these tech segments will be transformed by the India AI ecosystem, in conjunction with finance and other areas.
Commenting on how India’s fintech ecosystem came to be, he claimed that it has among the greatest adoption rates in the world, at 87%, as opposed to the global average of 67%, with UPI playing a significant role in this change.
According to Chandrasekhar, the digital economy in India will support thousands of entrepreneurs working in fields as diverse as blockchain, artificial intelligence, and semiconductor innovation.
He pointed out that the Indian government is pursuing legislative steps, such as the Digital Personal Data Protection (DPDP) Bill and Digital India Act, to ensure that the internet remains safe and dependable for all digital citizens despite the fast-paced evolution of technology and the internet.
It is important to remember that the Center introduced the draft DPDP Law in November of last year, months after dropping the Personal Data Protection Bill, of 2021, in the face of criticism from several parties.
For those who were put off by the previous draft, Chandrasekhar stated, “this is a measure that has three central aims. Number one, the bill will not cause any hiccup, road bump, or another obstacle to the expansion of the innovation ecosystem.
“…under the DPDT, first, innovation momentum will continue, citizens’ rights will be maintained, and the extraordinary conditions under which the government must access personal data in urgent situations will also be permitted,” he stated.
The MoS claims that the Digital India Act, which was passed by the Centre, is a “global standard contemporaneous legislation” that addresses the issues of transparency, user damage, and accountability online as well as the future of the internet.
For those who are unaware, the IT Act, of 2000 would be replaced by the Digital India Act. The debates about its architecture, according to the minister, will begin this week.
It should be mentioned that the central government has established a ten-member committee to examine the potential for a new digital competition law in the nation, along with improvements made to the country’s legal framework and IT environment.
By 2025, India is anticipated to have a digital economy worth $1 trillion.
