- Saturday, April 27, 2024
Addressing the Lokmat Global Economic Convention in Singapore, Prakash Jain, executive chairman of Inspira Enterprise India Ltd, said AI will be the biggest change in the Indian IT sector.
By: Shubham Ghosh
ARTIFICIAL intelligence (AI) is set to take the Indian information technology (IT) sector to the next level of global services, the top official of a cyber security company said on Thursday (28), while addressing a global economic convention in Singapore.
Addressing the Lokmat Global Economic Convention in Singapore, Prakash Jain, executive chairman of Inspira Enterprise India Ltd, said, “AI will be the biggest change in the Indian IT sector.”
Highlighting that the Indian IT sector exported $270 billion (£214 billion) of services in 2023, he emphasized that robust government backing for technology industries has eliminated numerous obstacles and facilitated an improved ease of doing business in India.
Read: Indian businesses pip US, UK counterparts in using artificial intelligence: report
Speaking at a panel discussion on “Taking India to the pinnacle of World economy – A Road Map” during the convention, Jain underscored the growing presence of educated and skilled manpower in India capable of handling the world’s leading technologies.
“Given the right skill to the people also brings opportunities,” said Jain, whose cyber security company is involved in big data analytics, AI, and cybersecurity with offices in Mumbai, Delhi, Dubai, Dallas and Manila.
Read: Must protect world against weaponisation of artificial intelligence: Modi
Acknowledging the rapid pace facilitated by accelerated digitalization in India, Jain highlighted the advancements in technologies and manufacturing, citing tech giant Apple’s export of Rs 1 trillion (£9.49 billion) worth of mobile phones in the past 12 months.
He also emphasized the potential for Apple exports to surge to Rs 5 trillion (£47.4 billion) in the upcoming year, foreseeing further growth as India’s semiconductor companies venture into chip-based manufacturing for advanced technologies.
“AI is going to be in the life of everyone in one way or another,” said Vishal Chordia, director of Suhana Pravin Masalewala.
Every worker will be well informed and empowered with good knowledge based on AI implementation, predicted Chordia, dismissing beliefs that AI will take away jobs.
Elaborating on the progress made by the Indian economy, Chordia highlighted the creation of global awareness for millet as a healthy food since its launch on the international stage last year.
India sponsored the proposal for the International Year of Millets 2023, which was accepted by the United Nations General Assembly.
The declaration has been instrumental in the government’s being at the forefront of celebrating the IYM, according to the Ministry of Agriculture & Farmers Welfare.
“Brands and the Government are taking initiative in promoting millets by sharing knowledge about healthy foods,” he said., citing just one example of Indian foods being put on global markets. Awareness will lead to increased consumption and put millet in the centre of the plate for global consumers, Chordia said.
He also observed that young Indians are health conscious and consider the “dos and don’ts” while selecting food, which makes millet a first-choice food in the coming years. Touching on food industry prospects in India, he said his company, Suhana Pravin, is enjoying an annual growth of 26-30 per cent.
(With PTI inputs)
