Finance Minister Nirmala Sitharaman during the launch event of ‘Roadmap for AI for Viksit Bharat: An Opportunity for Accelerated Economic Growth’ and ‘NITI Frontier Tech Repository’, in New Delhi

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`.

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.

For India, the challenge would be twofold--preparing a workforce with advanced digital and AI skills to capture new opportunities, while simultaneously ensuring that those displaced are gainfully employed through reskilling, redeployment, or absorption into other growth sectors of the economy.