New Delhi:Finance Minister Nirmala Sitharaman on Monday emphasised the need for regulations that foster technology innovation in a responsible manner, particularly in artificial intelligence (AI), rather than stifling it.

The government is determined to not only adopt AI technologies but also ensure their responsible application across various sectors, she said while releasing the report 'AI for Viksit Bharat: The Opportunity for Accelerated Economic Growth'.

"We do not want regulation that literally wipe out technology itself. We want regulations because we want a responsible application," she said after releasing the report prepared by Niti Aayog here.

"AI is a rapidly progressing, real time, dynamic thing, and therefore all of us will have to be conscious that we don't sit back on the ethic as AI can also have its challenges," she said.

The challenge not just in jobs, but also in a way in which these can be misused which can have repercussions for the society, she added.

According to the report, projections show that while AI will create many new roles, it will also displace many existing jobs, particularly in clerical, routine, and low-skill segments.

Source:Ndtv