New Delhi, Jan 24 (IANS): India is recognized as a major player in artificial intelligence (AI), bolstered by significant reforms, robust digital public infrastructure, and a skilled technology workforce, according to Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), during the World Economic Forum in Davos.
Georgieva highlighted India’s rapid development in digital infrastructure and its abundant IT talent as key advantages. She expressed the IMF’s high regard for India’s economic reforms and acknowledged the country’s remarkable AI prospects, despite Union Minister Ashwini Vaishnaw’s rebuttal of prior comments suggesting India belongs to a “second grouping” of AI powers.
Vaishnaw referenced a Stanford analysis ranking India third globally in AI preparedness. Georgieva indicated that AI could enhance global growth by up to 0.8 percentage points, with dynamic economies like India’s likely to benefit even more.
She praised India’s strategic approach to AI and confirmed her upcoming visit for an AI summit, calling India a “bright spot” amid global economic uncertainties. She warned of inflated expectations surrounding AI that could lead to setbacks if not met, emphasizing the importance of strong economic fundamentals, which India’s policies exemplify.
