Global Big Tech firms’ efforts to keep regulation away from their Artificial Intelligence (AI) initiatives have succeeded in warding off any immediate action in India. Indian executives for Facebook parent Meta, Microsoft, and IBM on Saturday articulated the industry’s overall point of view on regulating AI in a panel discussion. While each executive welcomed some regulation, the industry overall appeared eager to set the terms of discourse leading to rules that would eventually apply to them.
“At this stage, if we try to regulate AI very much, it will hamper the development of the sector also,” Akash Tripathi, the in-charge for the Ministry of Electronics and Information Technology’s Artificial Intelligence & Emerging Technology group said during a panel discussion. “We really need to create an enabling environment which is not focusing too much on regulation … It’s a critical balancing act.”