'In (AI) Threat Lies The Opportunity': M&M MD Anish Shah Explains How Tech Can Pave The Path To 'Viksit Bharat' At Ideas Of India 3.0
Ideas of India 2024: Shah claimed that the next major step India needs to figure out is how to make AI technology and its benefits a "part and parcel of every single business."
Mumbai: Artificial intelligence (AI) has been the talk of town of late, with everyone from industries to individuals trying to cope with the advent of the cutting-edge technology that has not only brought in a certain efficiency to tasks and processes but also ushered in a gloomy state of affairs with incessant layoffs of human workers to make way for bots. However, "in this [AI] threat lies the opportunity," claimed Dr Anish Shah, Group CEO of Mahindra Group and Managing Director of M&M on Friday. Speaking at the third edition of Ideas Of India Summit, Shah said that to truly bring about a 'Viksit Bharat', AI technology must be merged with industrial businesses.
Shah stressed that the leading IT services in the country have already been doing the same for global clients. However, he claimed that the next major step India needs to figure out is how to make AI technology and its benefits a "part and parcel of every single business."
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AI In Agriculture
The Mahindra chief went on to talk about the benefits of AI and technology in agriculture. "Every tractor can now have a sensor that can give a lot of information to the farmer," said Shah, explaining that the technology can be leveraged to offer vital information such as how much seed is needed in a certain section of the land, how much moisture is already there, how much fertiliser needs to be added, and more, which would eventually result in the farmer getting an opportunity to save more fertiliser and seed than before.
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Path To 'Viksit Bharat'
India, advancing along the trajectory of Viksitt Bharat, has been urged to prioritise inclusive economic growth by Mr. Shah, an eminent figure in fostering purpose-driven organisations and spearheading technological innovation across sectors. Emphasising the necessity for equitable distribution of economic prosperity, Shah articulated, "My vision for India hinges on inclusive growth, where the benefits of economic progress are shared across all strata of society."
Addressing an audience at the third edition of the 'Ideas Of India Summit', organised by ABP Network, Shah outlined ambitious economic targets for the nation, envisioning a $33 trillion economy by 2047. Key objectives included elevating the per capita income to $17,250, boosting manufacturing to constitute 25% of GDP, and scaling exports by elevenfold from current levels.
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Highlighting the burgeoning prospects in India's electric vehicle (EV) sector, Shah noted the nation's potential to emerge as a global leader, buoyed by advancing research and development activities. Additionally, he underscored the imperative of women-led development, advocating for gender equality across all spheres of society as an essential component of India's journey towards inclusive growth under the Viksit Bharat framework.
Furthermore, Shah revealed a strategic initiative undertaken by Mahindra Group, aimed at empowering women through education and skill development, with a commitment to educate and skill one million girls annually.
The 'Ideas Of India Summit', scheduled for February 23 and 24, serves as a pivotal platform for comprehensive deliberations on 'The People's Agenda' in the lead-up to significant elections in the world's largest democracy. Renowned luminaries representing diverse sectors will convene to delve into the multifaceted dimensions of India's socio-political landscape, reflecting the ethos of ABP Network's flagship initiative to foster nuanced discourse on Indian society and governance.
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