The ECO calls for regulatory structure to align the use of AI for survey regulatory framework

New Delhi, 31 January (PTI) said in the Economic Survey on Friday that the regulatory structure would need to be “revised and modified” to ensure that the use of AI aligns with social values, of accountability and transparency Along with the innovation balances.

The previous budget document cited an IMF paper that governments could be forced to make the wealth of corporates that use AI to change labor.

With an entire chapter dedicated to ‘labor in the AI ​​era’, the Economic Survey states that when it will feel the influence of AI on labor around the world, the problem increases to India, its size and its relatively Looking at low per capita income.

“If companies do not optimize the introduction of AI on the horizon for a long time and do not handle it with sensitivity, the demand for policy intervention and fiscal resources to compensate will be unmistakable,” this is said.

The state, in turn, resort to taxation of profits generated from replacement of labor with technology to raise those resources, as the IMF suggested in its paper, noted.

The survey warned, “It will leave everyone worse and damage the country’s development capacity, as a result, the survey warned.

How children are educated, structural changes will be required in addition to the safety net that can adapt the existing workers from economic and social results, the previous budget document said that the current financial year is a description of the situation of the economy.

The use of the time window available during the newborn stages of AI for the creation of strong institutions can ensure that the nation is kept well to minimize the cost, it was observed.

“It can then help bend the scale towards benefits, balance the ‘cost-profit’ aspect in the service-dependent economy like India,” said this.

According to the survey, navigating this change requires coordinated participation from all agents of the economy.

“A tripartite compact between the government, private sector and academics can ensure that the benefits from AI-driven productivity are widely distributed, leading us towards the ideal inclusive development strategy,” it states that that There is a possibility of success in this. Endeavor is proportional to appreciation of gravity of direct challenge and results of failure.

Learning from past, capacity building and institution construction lessons requires hours for India to capitalize on the opportunity that is ahead.

India’s demographic benefits and diverse economic landscape status is unique to benefit from AI.

“However, to achieve these benefits requires significant investment in education and workforce skilling, which is supported by the institutions, insurance and stewards. This mechanism Can help, “said this.