New Delhi: During his address at the B20 Summit India 2023, Prime Minister Narendra Modi underscored the necessity of establishing a worldwide framework to ensure the ethical utilization of Artificial Intelligence (AI). He expressed concerns about biases present in modern technologies and their far-reaching societal impacts. PM Modi stressed the need for a comprehensive and integrated approach to address these concerns, advocating for the creation of a global framework that encompasses all stakeholders involved in the field of artificial intelligence.

The summit, organized by the Confederation of Indian Industry (CII), served as a platform for PM Modi to emphasize the collaboration required between governments and business communities. He emphasized the importance of being prepared for potential disruptions across various sectors due to the advancements in AI technology. PM Modi stated, "The world is enthusiastic about AI, but within this enthusiasm, there are ethical considerations. Issues such as algorithmic bias and its societal effects are being raised in the context of skilling and re-skilling. It is essential that we address these concerns collectively."

Modi's address also highlighted India's efforts in formulating a global framework for Green Credit, which underscores the importance of sustainable practices in business. He called on industry leaders to adopt practices that positively impact the planet. Touching upon other critical global challenges, PM Modi discussed climate change, the energy crisis, food supply chain imbalances, and water security. He urged a unified approach to tackle these issues due to their significant influence on the business landscape.

PM Modi urged business leaders to shift their focus beyond mere brand and sales considerations. He urged them to consider the creation of an ecosystem that ensures long-term benefits for both businesses and society. In addition to AI, the Prime Minister also emphasized the need for an integrated strategy to navigate the realm of cryptocurrencies. He noted, "There is a growing need for a more comprehensive approach to address matters concerning cryptocurrencies." Overall, PM Modi's address at the B20 Summit highlighted the importance of global cooperation, ethical considerations, and sustainability in shaping the future of technology and business.

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