India preparing standards to regulate artificial intelligence: Report

In recent years, AI has seen an exponential growth and it has thrown up several ethical challenges for governments around the world.

India is preparing a set of standards to regulate artificial intelligence (AI) and its applications in the country, the Mint reported on August 28.

The new set of regulations are being put together by the Bureau of Indian Standards (BIS) for AI and related applications in consultation with ministries of consumer affairs, information technology, education along with various industry stakeholders, the report cited sources as saying.

Moneycontrol could not independently verify the report.

In recent years, AI has seen exponential growth and thrown up several ethical challenges for governments around the world.

In India, there has been an increased demand for job seekers well-versed in machine learning and Python languaging programme . Techies with these skills are in demand in information technology (IT) companies for Generative Artificial Intelligence (Gen AI) roles. The trend reflects the growing importance of these skills in developing advanced AI solutions and frameworks, experts said.

Moneycontrol has reported that nearly 42 percent of Gen AI jobs in India mention machine learning, while 40 percent ask for Python as the most wanted skill for AI jobs, according to hiring platform Indeed. Companies such as IBM, Coforge, L&T Technology Services, and Happiest Minds are seeking professionals skilled in machine learning, data science, and cloud engineering.

In March, the cabinet approved a national-level India AI mission with a budget outlay of Rs 10,372 crore for the next five years, under which the government will allocate funds towards subsidising private companies looking to set up artificial intelligence computing capacity and also allocate seed funding for startups in the sector among other things.