Showcasing power of AI, metaverse, web3

Tech News


NEW DELHI :

Policy makers, industry veterans, and senior executives will share their insights on the power of digital transformation with the help of emerging technologies such as AI and web3 at the Mint AI Summit today in New Delhi.

There are three primary reasons for organizing such an event. First, the government understands the power of AI and wants India to be a superpower in this space. 

In 2020, for instance, while speaking at the Responsible AI for Social Empowerment Sumit (RAISE), Prime Minister Narendra Modi said he wants India to become a global hub for AI. 

Second, we cannot have a meaningful conversation about digital transformation now without referring to cutting-edge technologies such as machine learning, deep learning, computer vision, image processing, natural language processing (NLP), and a suite of other AI technologies.

Market research and advisory firm International Data Corporation (IDC) has forecast India’s AI market to touch $7.8 billion by 2025, growing at a compound annual growth rate of 20.2%. 

And AI will contribute significantly to India’s dream of becoming a $5 trillion economy. According to Accenture, AI has the potential to add $957 billion, or 15% of India’s current gross value in 2035. According to industry body Nasscom, on average, a unit increase in AI intensity by companies that use AI can contribute $67.25 billion or 2.5% of India’s GDP to the Indian economy in the near term.

The event, which will mark the convergence of technology, business and policy, will see some of the biggest names in India’s technology industry discuss these topics in the context of the future of AI in the country. 

The eminent speakers include R.S. Sharma, chief executive officer of the National Health Authority at the ministry of health and family welfare; Pranav Mistry, computer scientist and founder of Silicon Valley-based deeptech startup Two Platforms Inc., and Ajai Chowdhry, the founder of HCL. Sharma will discuss how AI is transforming India, while Mistry will share his thoughts on the future of AI, the metaverse, and its implementation in the real world.

Other speakers include Rama Devi Lanka, director, Emerging Technologies, government of Telangana and Neeraj Mittal, principal secretary to government, IT department, government of Tamil Nadu who will speak on how AI is shaping government policies.

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