Artificial Intelligence has gained substantial importance in today’s digitalized world. Taking note of this, The Ministry of Electronics and Information Technology (MeitY) and NITI Aayog have decided to host a significant event entitled ‘Responsible AI for Social Empowerment 2020’ or RAISE 2020. Slated for October 5-9, 2020, this summit will be the first of its kind on a global scale.
The Objective of RAISE 2020
RAISE 2020 aims to create a collaborative platform where global experts can converge their thoughts on AI to further India’s vision for creating a society that is inclusive and empowering. This will be achieved by implementing responsible AI. Sectors such as Health, Agriculture, Education, Skilling, Mobility, Fintech, Research, Inclusive AI, and Future of Work will be introduced to the benefits of AI.
Participants of the Summit
This event will feature diverse participants from all corners of the globe. Industry tycoons, scholars, government representatives, and startups experimenting with AI are expected to join the summit.
AI’s Impact on India’s Economy
According to industry analysts, AI holds the potential to inject up to 957 billion USD into India’s economy by 2035. Through the application of AI, India intends to achieve inclusive development in alignment with the country’s ‘AI for All’ strategy.
Current AI Initiatives in India
To facilitate this growth, India has initiated numerous AI-based strategies. These include the National AI Strategy and the launching of a National AI Portal. AI is rapidly being integrated into sectors such as education, agriculture, healthcare, e-commerce, finance, telecommunication, among others. Furthermore, India has recently become a founding member of the ‘Global Partnership on Artificial Intelligence (GPAI)’, reinforcing its commitment to responsible AI development.
Understanding Artificial Intelligence
Artificial intelligence is often described as the ability of machines to execute tasks typically requiring human intellect. Technologies like machine learning, pattern recognition, big data, neural networks, and self algorithms fall under the bracket of AI. Everyday applications such as Facebook’s friend suggestions or self-driving cars are examples of AI.
The Potential Risks of AI
Despite its vast potential, AI is not without its concerns. Primarily, AI learns from the data it is fed. Consequently, any errors in the input data may lead to inaccuracies in the output. Thus, it is crucial to ensure the responsible use of AI. If misused, AI can potentially harm society through the creation of deep fakes, facilitation of cybercrimes, or manipulation of social behaviors.
While the advantages of AI are revolutionary, it is vital to approach its application conscientiously for the benefit of all. As such, RAISE 2020 epitomizes the ongoing dialogue on responsible AI application for social empowerment.
Source: PIB