Satya Nadella emphasizes the need for accelerated AI adoption to achieve a more equitable distribution of economic growth.

Artificial intelligence (AI) is predicted to revolutionize the global economy, but it also poses numerous risks that could potentially lead to catastrophic consequences. Many AI leaders believe that implementing sensible regulations is crucial to ensure that only the positive aspects of AI are harnessed. Microsoft CEO Satya Nadella emphasized the need for collaboration between India and the US in establishing governance rules that promote beneficial AI practices. Additionally, Nadella stressed the importance of achieving a consensus on AI regulations at the multilateral level. He expressed these views during a gathering of business leaders from consultancies, legal firms, and information technology companies.

“I think it’s imperative that India and the United States in particular are able to work together on what the norms are, what the regulations are even, rather than breaking them,” Nadella said.

According to him, there is also a need to ensure faster “decentralization” of technology, as it will help the world to share “economic growth equitably”. Currently, Nadella is in India and he emphasized that the new age technology can “equally share” the growth. And for that, a huge effort has to be spent in India to train the workforce adequately. And in this regard, Nadella said that Microsoft will train 20 lakh Indians in AI and that too by 2025. The skills imparted thus ensure that the workforce is “thriving”, he argued.

Nadella also stated that this new technology can help boost GDP growth in India, calling it one of the fastest growing markets in the world. He cited some data to support this claim from the Ministry of Electronics and Information Technology (Meity), which states that the GDP of AI will be $500 billion by 2025, with a total output of $5 trillion.

The Microsoft CEO said that while there are efforts to increase electricity generation from renewable sources, India also needs to focus on grid stability, adding that technology has an important role to play in the same, PTO reported.

Nadella listed several Indian companies that are jumping into AI, including Tata Group’s Air India, cigarette maker ITC, textile firm Arvind, Infosys and HCL Technologies. They all use AI tools for many organizational functions, he said. Nadella added that building your own AI applications has never been easier.