Addressing the third edition of Global Artificial Intelligence Summit and Awards, the minister said artificial intelligence will truly be a catalyst in India's development journey. "The Make in India programme when juxtaposed with AI technology will enable India to become the factory of the world, providing both equipment and technology." Goyal added that the huge talent pool available in the country will help in exploring newer ways to take AI in every sector of economic activity. "The Department of Science and Technology have done wonderful work in supporting the efforts of the scientific community of the country over the years, especially during the challenges of Covid." He said the government was using AI to redefine the way it works.

Commerce and industry minister Piyush Goyal on Monday said artificial intelligence (AI) and machine learning can help India achieve the $5 trillion economy benchmark over the next five years. "Our government believes artificial intelligence, in different forms, can help us achieve the $5 trillion benchmark over the next five years, but also help us do it effectively and efficiently," Goyal said while inaugurating the National Stock Exchange (NSE) Knowledge Hub. The hub is an AI-powered learning ecosystem for the banking, financial services and insurance (BFSI) sector. The minister referred to an Accenture report that said AI and machine learning have the potential to contribute nearly $1 trillion to the Indian economy by 2035 and said the Knowledge Hub created by NSE will fill in the gaps and help the financial sector to move into the future. Goyal said Prime Minister Narendra Modi sat through a whole day with officials from various ministries to get the sense of urgency to understand the importance of AI and how it can help put the Indian economy on the fast track.

NEW DELHI: Commerce and industry minister Piyush Goyal on Monday said artificial intelligence (AI) and machine learning can help India achieve the $5 trillion economy benchmark over the next five years. "Our government believes artificial intelligence, in different forms, can help us achieve the $5 trillion benchmark over the next five years, but also help us do it effectively and efficiently," Goyal said while inaugurating the National Stock Exchange (NSE) Knowledge Hub here. The hub is an AI-powered learning ecosystem for the banking, financial services and insurance (BFSI) sector. The minister referred to an Accenture report that said AI and machine learning have the potential to contribute nearly $1 trillion to the Indian economy by 2035 and said the Knowledge Hub created by NSE will fill in the gaps and help the financial sector to move into the future. Goyal said Prime Minister Narendra Modi sat through a whole day with officials from various ministries to get the sense of urgency to understand the importance of AI and how it can help put the Indian economy on the fast track.

India's efforts to set up a national centre on artificial intelligence (AI) reflect the country's ambition to accelerate its tech prowess akin to how China shaped the AI dialogue on the global stage. Finance minister Piyush Goyal's push for embracing AI fits into the government's vision to democratise newer technologies, which could be game-changers for creating societal impact. "India has become the second largest hub of startups. A national programme on AI has been envisaged by the government. This should be catalysed by the national centre for artificial intelligence as a hub, along with other centres of excellence," Goyal said on Friday.

"Artificial Intelligence has to be harnessed to find digital innovations for better customer interface and better service delivery. Artificial Intelligence is about creating trains with brains," said Goyal. "Artificial Intelligence can transform Indian Railways in terms of safety, passenger amenities, better revenues, growth and efficiency," he added. Speakers at the conference, organised by Centre for Railway Information System (CRIS), highlighted how the AI can help in enhancing customer experience as well as improve revenues. It was noted that use of AI can help in route optimisation, real-time train movement monitoring, crew fostering, improving the price advantage of rail freight, bettering logistics chain integration, among numerous other applications.

New Delhi, Mar 25 (ANI): Union Minister for Railways and Coal Piyush Goyal, while addressing an Artificial Intelligence (AI) Conference on Saturday, said the AI is not something to be feared instead it must be harnessed for the benefit of various sectors, including railways. "Artificial Intelligence has to be harnessed to find digital innovations for better customer interface and better service delivery. Artificial Intelligence is about creating trains with brains," said Goyal. "Artificial Intelligence can transform Indian Railways in terms of safety, passenger amenities, better revenues, growth and efficiency," he added.