India's Strategic Approach Towards Inclusive AI & Fintech Growth

India's Prime Minister Narendra Modi articulated the country's approach to Artificial Intelligence (AI) at the Global Fintech Fest in Mumbai, emphasizing principles of equitable access, population-scale skilling, and responsible deployment. Modi reiterated India's advocacy for a global framework governing ethical AI, leveraging its experience with digital public infrastructure to offer insights to the world.

Highlighting India's role in global digital empowerment, as opposed to mere aid, Modi spoke about the strategic combination of scale, inclusion, resilience, and sustainability. He underlined AI's potential in reducing underwriting bias, detecting fraud, and improving service quality, emphasizing the importance of collective investment in data, skills, and governance under India's AI Mission.

Addressing privacy concerns and emphasizing the construction of inclusive AI platforms, Modi noted ongoing global debates on AI trust and safety. He showcased India's commitment to ethical AI through initiatives like MOSIP, mutually beneficial partnerships with the UK, and the transformative impact of India's fintech sector on the global stage.

(With inputs from agencies.)