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Unlocking Unicorn Funding: Brace for AI Rules, Startup Founders!

5 months ago

TLDR:

– The rise of AI and the potential risks it poses have highlighted the need for regulation in India.
– While other countries such as the EU have already made progress in developing AI regulations, India is still in the early stages.
– The government of India is working on identifying the issues and talking with stakeholders to develop a balanced regulatory framework.
– The future of AI regulation in India will be different from that of other countries, taking into account India’s specific needs and goals.
– The funding for AI startups in India is significant, and the government aims to support startups through initiatives like setting up Centers of Excellence.

Look at the groundbreaking applications of AI. It may have been around for a while, but people stopped slouching and sat up to pay attention when OpenAI’s ChatGPT was released to the public in late 2022. While there was both awe and worry, one thing was evident: The unbridled rise of AI.

With promises of advancement, convenience and efficiency, an allure surrounds AI. But beneath the surface of progress, there lies a complex web of ethical quandaries and potential pitfalls. These might threaten to undermine the foundations of a societal equilibrium that is already a bit shaky to begin with. If people hadn’t paid attention to the risks of AI before, despite organisations prophesying how it may lead to job cuts, the rise of AI deepfakes with near-perfect accuracy, used with malicious intentions, have further troubled the waters in 2023.

In a country like India, where digital penetration has been unfolding, people are eager to quickly embrace new technology. The unrestricted access to AI calls for a framework to deal with a force that may be hard to put a leash on. Can a developing country like India regulate AI at a time being described as the golden age of this