New Delhi (NVI): The Central government is in the process of creating a portal to share data on public platform for public use, NITI Aayog CEO Amitabh Kant said today.
Kant was speaking at the session on ‘Shaping the New Economy: Transitions & Trends in Technology’ during ‘US-India Forum: Partners for Growth’ organized by FICCI here, jointly with USISPF and ORF.
“India has a vast amount of data. NITI Aayog is working on a portal to put this data in an anonymous manner in public domain so that the people across the sectors can utilize it,” he said.
The NITI Aayog CEO further stated that India has over 2,000 startups working in AI and machine learning and we can’t starve the startups of data. However, he outlined that critical human personal data should be kept within the country.
Kant further added that there is a need to create an economic framework for data pooling as a business resource in a responsible manner.
“It is not possible for India to grow rapidly at high rates without a technological leapfrogging in many areas of growth. India has to get into sunrise areas of the industry, and I believe India can radically change the landscape of electric mobility,” Kant said.
He said that India offers the size and scale to do innovations across health and education among other sectors. India has a scale of data that no other country can offer. “Indians are going to use data to a greater size and scale as we are the only country in the world which has a varied bank of biometrics,” Kant added.
Highlighting the potential of Artificial Intelligence, Kant urged companies and banks to leverage on the power of machine learning and AI. “Companies or banks which do not use Artificial Intelligence or machine learning will just go bust. Companies which use the power of technology will leapfrog,” he said.
Ms Aruna Sundararajan, Former Secretary of Telecom, Government of India said, “We must open up and enlarge the regulatory sandboxes in every area and have a full play for innovations.”
FICCI Senior Vice President Uday Shankar moderated the session.
