- Rao also said that no business can stay untouched from the AI revolution
- As an international AI community, it is necessary to brainstorm governance models to hold AI accountable
While participating in a panel discussion on ‘Empowering AI Leadership’ at the World Economic Forum in Davos, Rao said that no business can stay untouched from the AI revolution. It will transform the global economy and early adopters will have first-mover advantage.
AI will add 40 per cent to the world’s GDP by 2030
He also added that AI will add 40 per cent to the world’s GDP by 2030. Telangana declared 2020 as the “Year of AI” to leverage the global AI opportunity in the coming decade. The declaration has led to various coordinated initiatives with key strategic partners to achieve the State’s vision to establish Hyderabad as among the top 25 global AI innovation hubs said Rao.
Rao also stated that the state government had deployed AI-based systems for government to citizen (G2C) chatbots, identity authentication for citizen service delivery, commodity supply chain optimization, crowd counting, criminal tracking among others.
Brainstorm governance models to hold AI accountable
He also said that Hyderabad city police recently piloted an AI-enabled traffic management system. Adding further, he said that as an international AI community, it is necessary to brainstorm governance models to hold AI accountable. The union government is already developing AI governance guidelines in consultation with stakeholders.