Finance Minister Sitaramanov stated that India requires additional investment in artificial intelligence (AI) infrastructure and training to help businesses increase their productivity. She emphasized that the next major area for investment should specifically be AI infrastructure.
Sitaramanov noted that India should not halt investments in the sector, despite calls from companies developing advanced models to slow down model development due to fears they might pose a threat to humanity. Speaking at an event organized by IIT Madras in Bengaluru on Saturday, she stated that India needs significantly more investment in acquiring necessary equipment and training educators for institutions that must continuously update their knowledge in AI.
According to her, while Western countries have made significant progress in AI, India has also achieved successes. Small, medium, and micro enterprises (SMEs), which form the backbone of the country's economy, need AI-based solutions to improve their productivity.
She added that these enterprises cover a wide range of manufacturing, from small parts to aircraft components, and they need trainers to help them understand how AI can make them more competitive compared to peers in other countries. Thus, she rejected calls from the Western world, which already has a significant advantage in AI, insisting on the necessity of continued active development.
These comments came several weeks after Dario Amodei, founder and CEO of Anthropic, called on companies creating advanced models to reduce the pace of advancing AI capabilities. He justified this by citing growing risks of losing control over AI systems, misuse of AI in cyberattacks and bioterrorism, and catastrophic economic shocks.
Amodei's call was supported by prominent figures in the AI industry, including Elon Musk, Sam Altman, Satya Nadella, and Demis Hassabis.
Sitaramanov also expressed regret over the common perception that nothing is happening in AI in India. She explained that a measure of success is the number of companies listed on the NSE and BSE stock exchanges. She admitted that the statement that India has missed its chance is true, as the country currently lacks companies that have undergone the listing process.
She clarified that listing brings certain advantages, and multiple listings signal significant events. However, she warned that innovators should not seek funding independently, as these two processes are different; they must have partners who consider not only initial or later funding but also the possibility of their listing.
