In a speech today, while addressing the B20 Summit India 2023, which was organised by CII, Prime Minister Narendra Modi indicated that a global framework for ethical use of Artificial Intelligence (AI) should be created even as he flagged concerns surrounding bias in this new technology that could severely impact society at large. He underlined the importance of the ethical use of AI to promote the good of everyone rather than a few. This can be achieved only if countries and businessmen work together for the common good.
“Today, the world is showing a lot of excitement regarding AI. But amidst the excitement there are also some ethical considerations. Regarding skilling and re-skilling, concern is being raised about algorithm bias and its impact on society. Such issues also have to be resolved together,” he added.
Indicating that the responsibility should be borne by both policy-makers and the business world, PM Modi said that both should work together and above all ensure ethical use of AI.
He added, “We have to sense the potential disruptions in different sectors. This problem has to be solved under the global framework.”
Progress should be based on a focus, not just on brand and sales, but much beyond that to ensure everyone benefits. He said, “As a business, we have to focus on creating an ecosystem that will benefit us in the long term”.
Modi stressed that a self-centric approach will harm everyone. He also underlined that a profitable market can be sustained when there is a balance in the interests of producers and consumers, and it also applies to nations.
Referring to a similar challenge of uneven availability and universal need in critical materials and rare earth metals, Modi said, “If those who have them do not look at them as global responsibility then it will promote a new model of colonialism.”
PM Modi urged business leaders to give thought to making businesses more consumer-centric.
“When we talk about consumer rights, should not we also be mindful of consumer care as it will automatically take care of many consumer rights issues? We should definitely think about a system for ‘International Consumer Care Day. This will help in strengthening trust between businesses and consumers”, he added.