Economic Survey 2018: India should leverage artificial intelligence, blockchain for future growth

India has the potential to be a global leader if it makes the right investments now in the technologies of the future including artificial intelligence, machine learning and blockchain, the Economic Survey 2017-18 said on Monday.

Calling for greater focus and investment on R&D in science and technology, the Survey suggested a mission-driven approach that could have a huge impact on Indian society and growth.

Also Read: Economic Survey 2018: Double R&D spend in Science & Tech, involve private sector and states

It suggested six key areas that can be taken up as national missions to promote India’s R&D capabilities. One of these is the National Mission on Cyber Physical Systems.

“This is hugely multidisciplinary area including deep mathematics used in artificial intelligence, machine learning, big data analytics, block chains, expert systems, contextual learning going to integration of all of these with intelligent materials and machines, control systems, sensors and actuators, robotics and smart manufacturing,” the Survey noted.

The other five include national missions on dark matter, genomics, energy storage systems, mathematics, and agriculture.

“Innovations in science and technology are integral to the long-term growth and dynamism of any nation. The pursuit of science also creates a spirit of enquiry and discourse which are critical to modern, open, democratic societies,” the Survey said.

The Survey also called for efforts to match the efforts of “ease of doing business” with similar ones to boost the “ease of doing science.”