Financial Express Digital Bharat Economy Conclave Highlights: Unlocking the power of AI

“Telangana police have used facial recognition technology for identity checks without clear cause, raising privacy concerns. Similarly, predictive policing in Delhi profiles individuals based on their locations. These practices highlight gaps in data protection laws, which allow publicly available personal data to be used without consent. This includes unauthorised use of social media photos for facial recognition and profiling, illustrating significant issues with current AI regulations and privacy protections,” Pahwa said.

“Lawmakers tend to be more concerned about protecting digital freedom in critical infrastructure rather than in everyday apps. They prioritise safeguarding essential systems, sometimes overlooking individual rights and freedoms in the app world,” Sharan said.

“For India, it’s crucial to develop regulations that not only address direct harms but also consider these broader ethical dimensions to create a more comprehensive and equitable legal framework,” Sharan commented.

“When considering laws like data protection, there are ethical principles embedded within them, such as data minimization and purpose limitation,” Sharan said.

“Before diving into AI regulation, it’s important to recognise the wide range of AI use cases across different domains. For instance, critical infrastructure will have very different regulatory needs compared to other areas. Currently, most discussions on regulation seem to focus on just a few use cases, such as content moderation or political bias in generative AI. The challenge is that regulations often try to address every aspect of AI with a one-size-fits-all approach, which might not be effective for all use cases,” Garg answered.

“You can’t apply a one-size-fits-all approach to AI regulation. From a legal framework perspective, how do you address the ethical considerations and ensure that regulations are both effective and adaptable to the diverse applications of AI?” Rajan asked.

“Regulating AI in India is quite a challenge because of its broad and evolving nature, similar to how regulating the internet is complex. To tackle this, we need to focus on a few key areas. First, we should establish clear guidelines for liability to address issues when AI systems cause harm or legal problems. Transparency is also crucial—AI systems should be open about how they make decisions, especially with recommendation engines and generative AI. Ethics play a significant role too, so we need standards to ensure data privacy, and fairness, and to prevent bias. Additionally, creating consistent industry standards for AI,” Pahwa said.

“In the world of news, AI plays a significant role in content curation and generation. For example, Sana, which is powered by AI, curates content effectively. Our technology also enhances training materials by translating them into multiple languages, making them accessible in local languages. This capability opens up opportunities that were previously not feasible, allowing a broader audience to be onboarded and engaged in the industry,” Dhawan added.

“I believe the key is that while AI is increasingly generating content and driving the economy, human involvement remains essential. Technology is still evolving to mimic human creativity and learning, and it continues to improve over time,” Dhawan said.

“As AI systems, such as autonomous cars, face ethical dilemmas—like deciding whether to prioritise saving a pedestrian—questions of ethical AI arise. This concept involves principles for designing and developing AI with human ethics in mind. Issues include ensuring unbiased data and addressing accountability: who is responsible for the outcomes of AI technology? These principles are crucial for navigating the ethical challenges and responsibilities associated with AI advancements,” Gupta said.

Next up, we have a panel discussion titled ‘A Risky Affair= Ethical AI’

Our panelists are Nikhil Pawa, founder, Medianama; Dhruv Garg, lawyer and tech policy advisor, IGAP; Vivan Sharan, partner, Koan Advisory Group; Abhishek Gupta, CIO and chief digital officer, Dish TV; Atul Govil, CTO and head – corporate, India Glycols, and Anuja Dhawan, co-founder, Dubverse. The panel is moderated by Nandagopal Rajan, chief operating officer, The Indian Express Online Media.

“We empower you to build advanced LLMs for better customer interactions, with a focus on leveraging foundational models like our Visual DEI model, trained on Adobe Stock’s extensive library. This ensures accountability and effective training for our Firefly engines, which use licensed content. Additionally, we support large language models through our API stack across Firefly and Document Cloud. We’re excited about the potential of Generative AI and look forward to discussing how we can help realise your ideas,” Joseph concluded the session.

“Content credentialing is versatile and applicable across various use cases, including verifying documents and information for governments and businesses. Adobe’s AI ethics framework ensures that every innovation undergoes thorough scrutiny by our AI review board before release. This rigorous process maintains the integrity and authenticity of our technology, reflecting our commitment to responsible and verified advancements in AI,” Joseph added.

“We are cautious in advancing AI to ensure we build a protected business environment with adequate guardrails. Without careful management, AI developments could lead to risks and unverified outcomes. Adobe addresses this through the AI ethics framework, known as the ART framework—standing for Accountability, Responsibility, and Transparency. This framework guides our approach to ensure ethical and secure AI implementation, balancing innovation with safety and reliability,” Joseph cited.

“In the advertisement industry, the process from shooting to publishing often involves multiple teams and locations, raising the need for better collaboration and productivity. To address this, we’ve been developing AI models for over a decade, integrating them into our platform products. For example, Firefly, our generative AI tool, began with prompt-based image generation but has evolved. The new innovation, Style, allows creative professionals to generate images from existing images, reducing the reliance on precise prompts and streamlining the creative process,” Joseph added.

“When adopting new technologies like Generative AI, it’s crucial to choose solutions that are future-ready and business-grade. Security must be a top priority to prevent issues like AI hallucination, where generated information may be inaccurate or misleading. This not only affects business operations but can also lead to legal liabilities. Additionally, the technology should enhance personalisation and user-centric experiences, aligning with the long-held promise of tech innovation,” Joseph said.

“62% of enterprises expect over 50% of their revenue to come from digital channels, underscoring the massive impact of digital transformation. Generative AI, the latest innovation, is widely discussed, raising questions about whether it’s just a fad or truly transformative. Evidence shows that Generative AI is indeed enhancing business operations, making them easier, faster, and more efficient. Its impact on business effectiveness is becoming increasingly clear,” Joseph said.

“The shift to digital payments, driven by smartphones and UPI, has revolutionised transactions, making physical wallets nearly obsolete. This convenience has sparked an economic revolution, particularly in India, where streamlined identity verification, affordable data, and a robust payment infrastructure are key drivers. With estimates suggesting a $154 billion boost to the economy, the potential for further growth and innovation is immense,” Joseph highlighted.

Next is a standalone session titled- Supercharging Digital Transformation in the Era of Gen AI by Ajay Joseph, head – sales and channel, Digital Media, Adobe.

The first Fireside Chat has concluded.

“As a coder, I believe AI won’t fully replace human creativity in coding. It mainly helps by reusing existing code rather than creating new solutions. While AI can assist and improve efficiency, it can’t match the unique problem-solving skills of humans,” Kumar concluded.

“How effective is generative AI in writing code? Can it merely enhance the efficiency of the coding process, or does it have the potential to replace basic coding tasks and impact the software industry?” Sindhwani questioned.

“In sectors like healthcare, finance, IT, and post-sales service, AI has the potential to revolutionise the industry by handling routine tasks that were previously managed by humans. This not only enhances efficiency but also significantly improves customer satisfaction by providing timely and accurate responses, leading to a more streamlined and satisfying experience for consumers,” Bhatia concluded.

“Before reaching out for support, customers typically have a set of common questions about their purchase or decision. By integrating these frequently asked questions into an AI system, one can provide immediate, relevant answers. This proactive engagement not only streamlines the customer experience but also makes customers feel valued and promptly attended to,” Bhatia said.

“AI-based software and tool development will see rising demand, driven by the need for advanced solutions. Additionally, AI can transform customer engagement and acquisition strategies, boosting success rates and performance metrics. As AI becomes more integrated into operations, these areas will thrive, enhancing overall business outcomes,” Bhatia cited.

“Given that the service industry contributes 53% to GDP and is growing rapidly, it’s reasonable to assume that AI adoption in this sector might accelerate faster than in manufacturing. The ability to enhance efficiency and service quality could drive quicker implementation,” Kumar replied.

“In the services sector, where do you see AI making an immediate impact? For instance, customer service could benefit from AI handling initial interactions, potentially reducing the load on human agents. What other areas in services do you think AI can play a significant role and achieve success?,” Sindhwani posed.

“Similarly, in quality control, AI can transform the process by identifying issues earlier. Instead of discovering problems only at the final testing stage, AI can detect them during manufacturing. This approach enhances not just supply chain optimisation but also predictive maintenance and overall production efficiency,” Bhatia added.

“Supply chain optimisation is crucial, especially for companies managing complex operations. It involves managing working capital and ensuring that the right materials are available at the right time. By optimising supply chains, companies can reduce excess inventory and improve efficiency at the production stage,” Bhatia highlighted.

“In my view, the supply chain is the core of any organisation or country, as it encompasses working capital management, service delivery, and goods distribution. For industries like food and beverages, supply chain efficiency directly impacts product freshness. Adopting AI in supply chains will be a major differentiator and could significantly boost GDP by enhancing efficiency and performance,” Kumar cited.