It suggested that forming cooperative relationships with some of the frontrunnerssuch as Japan, the UK (United Kingdom), Germany, Singapore, Israel and Chinato develop solutions that tackle social and economic challenges can aid and accelerate strategy formulation in AI, ML (machine learning) and other new-age technologies in India.
Exchanging best practices and learnings from prior initiatives is one way of strengthening cooperation, noted the study titled Advance artificial intelligence for growth: Leveraging AI & robotics for India's economic transformation, jointly conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and multinational professional services firm PricewaterhouseCoopers (PwC).
The study also suggested that policy planning in AI must be aimed at creating an ecosystem that is supportive of research, innovation and commercialisation of applications.
While academia and the private sector focus their research activities on finding applications with diverse usage, the public sector, with its various schemes (Digital India, Make in India, Skill India, etc.), could identify areas where specific applications of AI and robotics can be utilised to increase reach, effectiveness and efficiency, thus giving direction to existing innovation across different fields.
Setting up digital data banks and exchanges to stream-in information from across industries together with revision of secondary school and university curricula to inculcate interest in AI will help create enabling environment for AI-led growth.
Another enabling factor for AI growth would be setting up centres of excellence supporting inter-disciplinary research across law, medicine, engineering, management and the social sciences.
Highlighting the need for a practical and pragmatic approach towards use of AI, the study said, Government could act as a catalyst in furthering growth by opening training centres focused on equipping young individuals with high-end skills in the field of analytics and ML, which, in turn, could be tied in with inviting data-driven global enterprises to set up their centres of excellence in India.
It added that this could be an extension of the Digital India and National Skill Development initiatives to meet the growing demand of analytical and AI competency, which would be beneficial for country's human capital.
With a view to ensure that innovation is directed towards effective pursuits and does not clash with human interests, collaborative efforts and ongoing dialogue between the three pillars of AI-based researchacademia, the public sector and private sectorshould be encouraged.
Thus progress in AI, ML and robotics should follow the needs of businesses and individuals rather than the other way round.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
