G20 Summit Spotlight: India's tech talent, AI revolution in manufacturing

Visakhapatnam: AI's versatility knows no bounds and has an immense potential for growth, CEO of Pulsus Group and co-convenor of the G20 Global Tech Summit series Dr.Srinubabu Gedela said.

Covering diverse topics such as revolutionising agriculture, streamlining public services and automating legal research in the recent G20 Summit on the Sustainable Growth Agenda for the Global Economy held in New Delhi, he emphasised on the significance of investing in appropriate training to harness the potential, projecting the addition of 7 million AI engineers and data science professionals to tap into the $15 trillion global opportunity.

Organised by IDRC CRDI, NITI Aayog, and GDN, the summit saw prominent experts discussing the future of artificial intelligence (AI) and its impact on the global economy.

However, the technological advancement towards this direction also means AI and machine-learning robots could replace around 50 million jobs globally by 2030, indicating a pressing demand for AI engineers, data scientists, and ethicists, Dr.Srinubabu Gedela informed.

With AI as the driving force, India can ascend as the global epicentre of manufacturing, ushering in a new era of digital intelligence that surpasses past reliance on muscle power, the CEO emphasised.

Experts predict that India may claim the title of the world's third-largest economy by 2026, a testament to the power of AI-led growth.

In alignment with the government's initiatives, India's manufacturing capacity is rapidly expanding. The ease of manufacturing processes, coupled with incentives for foreign and domestic investments, has attracted major players like Apple, Daikin, and Mitsubishi Electric, alongside domestic giants Amber, Dixon, and Havells, the experts highlighted.

With AI continuing to drive improvements in manufacturing, India is poised to become an enticing choice for companies seeking to diversify their supply chains, they elaborated.

BVR Subrahmanyam, NITI Aayog's CEO, shared visionary tech, policy and job initiatives. Manjeev Singh Puri, former Indian ambassador to the European Union, focused on reshaping global finance for sustainable growth. Harvard University's Robert Stavins delved into energy, climate, and growth guidelines, while Paul Samson, President of the Centre for International Governance Innovation, explored the implications of fragmented trading systems on growth.