GUWAHATI: Girish Chandra Murmu, the India's Comptroller and Auditor General (CAG), stated on Monday that artificial intelligence (AI) has the potential to add USD 15.7 trillion to the global economy by 2030, but he also expressed worries over its privacy and the upholding of auditing standards.
It is inevitable that AI technology will become democratic. We have reached a point where, by 2030, AI might boost the world economy by up to $15.7 trillion. He made the remarks while opening the G20 SAI20 delegates' meeting, which got underway here on Monday. "It has the ability to drive socio-economic progress, and AI may be used to help residents and the country through focused and timely intervention," he said.
The session is being attended by 39 national and international delegates from Supreme Audit Institutions (SAIs) that are G20 members, guest SAIs, and other international organisations.
The CIG said, AI has the potential to address problems in various industries, including healthcare, retail, finance, agriculture, food, water resources, the environment and pollution, education, special needs, transportation, energy, public safety, disaster management, and the legal system.
Although he acknowledged that AI presents numerous opportunities, Murmu issued a warning that it also raises issues with regard to justice and transparency. According to Murmu, these problems include how AI affects privacy, how biassed and discriminatory AI systems might be, and how poorly the general public comprehends AI algorithms. These issues are complicated and interwoven, he continued, underscoring the necessity for ethical AI procedures that guarantee the solution's fairness.
According to the CAG, ethics are the basis of responsible AI. Ethics are "centred on safety and reliability, inclusion and non-discrimination, equality, privacy and security, protection and reinforcement of positive human values," the speaker stated.
He stated that "Responsible Artificial Intelligence" and "Blue Economy" symbolise the new-age potential and concerns, while also recognising the significance of sustainability, growth, and the role of emerging technology. These, he continued, emphasise the necessity for sincere cooperation to comprehend the diversity of experiences.
The CAG stated that Blue Economy is an economic system that encompasses a spectrum of policy and operational dimensions aimed at conserving marine and freshwater environments while promoting their sustainable use, producing food and energy, supporting livelihoods, and acting as a driver for economic advancement and welfare in order to explain the importance of the priority area of Blue Economy.
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