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Artificial Intelligence Lesson-2 Presented By: Roman Saini
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In This Lesson Artificial Intelligence Global Developments (Cont'd) Artificial Intelligence and India
Artificial Intelligence (Al) National governments have significantly increased public funding for Al through commitments such as increasing the R&D spend, setting up industrial and investment funds in Al startups, investing in network and infrastructure and Al-related public procurements. .China, USA, France and Japan have committed significant public spending for Al technology development and adoption. .These countries are also leveraging different combinations of public-private-academia to develop and promote Al. . Development of technology parks, and connecting large corporations with startups and forming "national teams" with large private players to undertake fundamental and applied research are some of the public-private partnership approaches various national governments have espoused.
Artificial Intelligence (Al) Al technology development and applications are evolving rapidly with major implications for economies and societies. A study by EY and NASCCOM found that by 2022, around 46% of the workforce will be engaged in entirely new jobs that do not exist today, or will be deployed in jobs that have radically changed skill sets. . If some countries decide to wait for a few years to establish an Al strategy and put in place the foundations for developing the Al ecosystem, it seems unlikely that they would be able to attain and match up to the current momentum in the rapidly changing socio-economic environment Therefore, the need of the hour is to develop a policy framework that will help set up a vibrant Al ecosystem in India.
Artificial Intelligence (Al) Artificial Intelligence and India A national Al strategy needs to be premised on a framework which is adapted to India's unique needs and aspirations, while at the same time, is capable of achieving the country's full potential of leveraging Al developments. Such a framework could be seen as an aggregation of the following three distinct, yet interrelated components: a) Opportunity: the economic impact of Al for India b) Al for Greater Good: social development and inclusive growth c) A1 Garage for 40% of the world: solution provider of choice for the emerging and developing economies (ex-China) across the globe.
Artificial Intelligence (Al) Opportunity: the economic impact of Artificial Intelligence for India Al is emerging as a new factor of production, augmenting the traditional factors of production viz. labor, capital and innovation and technological changes captured in total factor productivity. Al has the potential to overcome the physical limitations of capital and labour, and open up new sources of value and growth . From an economic impact perspective, Al has the potential to drive growth through enabling: (a) Intelligent automation i.e. ability to automate complex physical world tasks that require adaptability and agility across industries, (b) Labour and capital augmentation: enabling humans to focus on parts of their role that add the most value, complementing human capabilities and improving capital efficiency, and
Artificial Intelligence (Al) (c) Innovation diffusion i.e. propelling innovations as it diffuses through the economy Al innovations in one sector will have positive consequences in another, as industry sectors are interdependent based on value chain. Economic value is expected to be created from the new goods, services and innovations that Al will enable. Accenture, in its recent Al research reports, provides a framework for evaluating the economic impact of Al for select G20 countries and estimates Al to boost india's annual lgrowth rateb3pecentage points by 2035.
Artificial Intelligence (Al) Al for Greater Good: social development and inclusive growth Beyond just the headline numbers of economic impact, a disruptive technology such as Al needs to be seen from the perspective of the transformative impact it could have on the greater good improving the quality of life and access of choice to a large section of the country In that sense, the recent advancements in Al seem to be custom-made for the unique opportunities and challenges that India faces. . Increased access to quality health facilities (including addressing the locational access barriers), inclusive financial growth for large sections of population that have hitherto been excluded from formal financial products
Artificial Intelligence (Al) Simply put, Solve for India means solve for 40% or more of the world. . .An advanced Al based solution for early diagnosis of tuberculosis (one of the top-10 causes of deaths worldwide), for example, could easily be rolled out to countries in South East Asia or Africa, once developed and refined in India. Beyond healthcare, Al technologies in the other sectors including agriculture, education and mobility are set to transform the world. . The commonality of issues with regard to the above sectors across developing countries provides the ideal use case of developing Al solutions that could be adapted for multiple markets .
Artificial Intelligence (Al) Indian IT companies have been pioneers in bringing technology products and developments as solutions across the globe. As Al matures and generalised applications become commonplace, its advantage India when it comes to large scale implementation. Furthermore, India's competence in IT combined with opportunities, such as interoperability between multiple languages, provides the much needed impetus for finding scalable solutions for problems that have global implications, such as NLP.