AI And ML Will Contribute $1 Trillion To Indian Economy By 2035: Piyush Goyal

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The Union Minister for Railways, Coal, Finance and Corporate Affairs, Shri Piyush Goyal addressing a Post-Budget Press Conference, in New Delhi on February 01, 2019. The Minister of State for Finance, Shri Shiv Pratap Shukla and the Secretary, Department of Economic Affairs, Shri S.C. Garg are also seen.
  • According to Piyush Goyal, the use of AI will ensure that the skill up-gradation is affordable and accessible
  • Goyal also assured that the government will continue its support to investors and startups

Commerce and industry and railways minister Piyush Goyal has said that artificial intelligence (AI) and machine learning (ML) will contribute $1 trillion by 2035. He said this while inaugurating the National Stock Exchange (NSE) Knowledge Hub in New Delhi. This hub is an AI powered learning ecosystem that will assist the banking, financial services and insurance (BFSI) sector.

He also added that the industry driven learning ecosystem will help India in building next generation skills and capabilities in the BFSI sector. According to him, the use of AI will ensure that the skill up-gradation is affordable and accessible. It will help in the creation of a workforce that is adequate for the requirements of the sector.

Future-ready talent

The NSE Knowledge Hub aims to provide skills and help academic institutions in preparing future-ready talent for the financial service industry. It will be available on mobile as well. It aims to bring world class class content and learners through state- of- the- art and future- ready platform.

Support to investors and startups

Goyal also assured that the government will continue its support to investors and startups. He added that India is a safe investment destination today for investors. The Knowledge Hub by NSE will strengthen and empower those working in the BFSI sector.

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