Best of BS Opinion: Investing in AI, China's ambitious targets & more

Here is the best of Business Standard's opinion pieces for today

The Union Cabinet last week cleared a Rs 10,371.92 crore package for the National AI Mission, mainly to underwrite private sector initiatives. Though well-meaning, the fact is that the private sector is capable of finding the requisite investments for setting up computing infrastructure and developing the models and the marketplace. What is needed is adequate policy support for an enabling environment for the AI ecosystem -- in terms of regulation, legislation, customs and tax policy. Moreover, given that AI works on the basis of vast quantities of data, there is an urgent need to fine-tune the processing and storage of both personal and non-personal data as the sector grows. These are policy concerns and inputs only the government can address, the top edit argues. Read it here.

In other views:

The second edit explains why the National People’s Congress targets for GDP growth and inflation in the coming year have been met with disbelief. Read it here

Debashis Basu outlines recent moves by RBI and Sebi to cool the exuberance in fintechs and markets. Read it here

Ajit Balakrishnan mulls the policy trade-off between permitting the widely variable performances of ChatGPT-type entities and encouraging innovation.  Read it here

QUOTE OF THE DAY

 

“This is applying a very small Band-Aid to a very big wound”

 

Robert Ford, former US ambassador to Syria, on the US’ temporary aid port in Gaza