Change is time-intensive. Think of the time it took for traditional businesses to move to the cloud and invest in digital transformation.
This was different when Generative AI (Artificial Intelligence) was launched. Businesses did not wait for their turn but jumped right into the AI wagon, securing their spot. The transformation was rapid and it reshaped industry functions and job markets. The ripple effect extended even to educational institutions and newsrooms with AI teachers and virtual news anchors.
Before even we knew, AI and ML (Machine Learning) redefined workplaces and changed in-demand skill sets. The technology influenced the proliferation of Gen AI startups inventing AI models for practical applications. As per NASSCOM, India has about 60 Gen AI startups. Even the state governments are taking part in the transformation with Kerala being the first Indian state to organize an international Gen AI conclave. There has also been a surge in professionals taking up courses related to Gen AI and ML in the past few months.
The magnitude LLMs (large language models) and other AI models dominating the technology spectrum is vast. While this is all exciting, are we really ready for this sudden shift? Is India prepared for the move to AI?
The European Union (EU) was the first to implement regulatory guidelines for the ethical use of Generative AI. This was a necessary move as the uncontrolled technology landscape gave way to potential misuse of the technology. An advisory, formulated by the Ministry of Electronics and Information Technology (MeitY) recently took some steps to regulate the USD 4 billion market. As per the guidelines, companies (large enterprises and not startups) currently testing LLMs would require government approval before market launch. While the government aims to prevent criminal attacks or any harm, the move has not gone well with entrepreneurs and technology developers. The government is set to release the draft regulatory framework by June-July, this year. Coincidently the regulations are also being released when India is getting ready for an AI-driven transformation. From Jio’s Bharat GPT to other indigenous models being developed in the country is sure to make AI work for India as desired by the government.
How far are these regulations going to support innovation and the free flow of ideas in the space? Are we ready to lead the world, as the government bodies aspire, with the ongoing flak from the entrepreneur community on the regulatory draft? Questions are aplenty and as we try to find the responses for each, professionals are upskilling to make themselves relevant in the industry. Students are picking up professional courses to prepare themselves for the ever-changing techade.
Maybe, as a country of immense potential, we could learn and course correct as we go rather than waiting to set the stage for Generative AI to be explored.