India's IT Secretary S Krishnan announced that the government is considering a dedicated regulatory framework for Artificial Intelligence, moving beyond existing IT rules to address challenges like deepfakes and synthetic content. This comes as global policymakers grapple with AI's rapid emergence and its implications.
SEBI Chairman Tuhin Kanta Pandey stated that cybersecurity is now a board-level concern, not just an IT challenge, emphasising the need for caution when deploying artificial intelligence in critical infrastructure. He highlighted that AI for cybersecurity must be secure, governed, and accountable, and also addressed the emerging risks from quantum computing, urging collective resilience and sharing of best practices among regulators.
Nandini Gupta who interned at an IT firm explains how Artificial Intelligence can change our future.
The Securities and Exchange Board of India (Sebi) is set to expand its artificial intelligence (AI)-based surveillance beyond trading data to include corporate filings, aiming to proactively flag financial misstatements and manipulation in quarterly results without relying solely on investor complaints.
The draft regulations for use of AI in courts 'shall apply to the use, deployment, or integration of AI in any judicial, adjudicatory or administrative function of the Supreme Court of India, high courts, and all courts including the Tribunals and statutory Commissions performing adjudicatory functions, within the territory of India'.
Chief Justice of India Surya Kant stated that while artificial intelligence (AI) can augment judicial reasoning, it cannot substitute judicial conscience, and a permanent apex body is proposed to supervise AI adoption and accountability within the judiciary.
The Securities and Exchange Board of India (Sebi) is set to undertake a comprehensive overhaul of the small and medium enterprise (SME) listing framework and tighten accountability around the use of artificial intelligence (AI) and machine learning (ML) in financial markets, Sebi Chairman Tuhin Kanta Pandey announced.
Competition Commission of India (CCI) chairperson Ravneet Kaur has warned that the rapid adoption of artificial intelligence (AI) could intensify anti-competitive practices in digital markets, including self-preferencing, discriminatory pricing, and market manipulation. She highlighted the CCI's ongoing study into AI's impact on competition and stressed the regulator's role in fostering growth while preventing abuse of dominance.
The Securities and Exchange Board of India (Sebi) is reportedly 'close' to approving the National Stock Exchange's (NSE) initial public offering (IPO) draft documents, with an expected market debut by early next month. Sebi Chairman Tuhin Kanta Pandey also emphasised the regulator's focus on enhancing market resilience against evolving risks, including technology failures and the impact of artificial intelligence.
IT Secretary S Krishnan advocates for India to pursue "strategic autonomy" in the AI ecosystem by building domestic capabilities and diversifying global supply chains. He emphasized avoiding overdependence on single sources while integrating into trusted global networks, and also highlighted the need to consider an AI law and regulatory framework.
India has highlighted 13 key outcomes from the recent Shanghai Cooperation Organisation (SCO) summit, focusing on enhanced cooperation in security, counter-terrorism, and addressing transnational threats. These outcomes include the establishment of a Universal Centre for Countering Challenges and Threats to Security, a strong stance against state-sponsored terrorism, and agreements on narcotics control, climate change, and artificial intelligence, reinforcing India's engagement in the Eurasian region.
A new report highlights that publishers need to adopt clear records, AI-specific provisions, and transparent disclosure of AI use to manage legal and commercial risks as the copyright framework around artificial intelligence evolves. Jointly developed by SS Rana & Co and Ficci, the 'Copyright In The AI Age' report emphasises practical governance measures while courts and regulators work on legal principles. It also addresses concerns about authorship, creators' rights, and research integrity amidst increasing AI integration in publishing.
The 42-year-old, who has had stints at Microsoft, Facebook and Twitter, made the announcement of leaving his role as Senior Policy Advisor for Artificial Intelligence in a post on X on Saturday.
'...A new challenge has emerged in the form of Mythos.'
Union Health Minister J P Nadda has emphasised the need for sound regulation, ethical oversight, and equity in the application of Artificial Intelligence (AI) to healthcare, speaking at the World Health Assembly in Geneva.
The National Financial Reporting Authority (NFRA) has commenced an investigation into Rajesh Exports concerning a 15.15 trillion financial misstatement, following a referral from market regulator Sebi.
If AI-generated material is found to be 'false, fabricated, misleading or inaccurate', the person filing it will be accountable and cannot cite the AI-generated nature of the material as a defence.
Tata Consultancy Services (TCS) has announced a global partnership with AI major Anthropic to help enterprises accelerate their adoption of artificial intelligence, including equipping 50,000 TCS employees with Anthropic's Claude AI models.
The move comes amid growing demand from organisations in India for local access to Claude.
The Rajasthan high court, Jodhpur, has taken suo motu cognisance of issues concerning Gen Z, Gen Alpha and Gen Beta, expressing concern over junk food, excessive screen time, paper leaks, inadequate infrastructure in rural schools and the possible erosion of basic learning skills in the age of artificial intelligence.
RBI Deputy Governor Rohit Jain discussed the future of India's foreign exchange markets, highlighting the increasing role of local currencies in cross-border trade, the impact of technology, and existing challenges. He emphasised the need for market evolution to facilitate India's global engagement, absorb shocks, and serve all users efficiently. Jain also addressed concerns about unauthorised forex trading platforms and the importance of customer awareness.
India's markets regulator, Sebi, has issued a warning to listed companies and regulated entities about an emerging cyber fraud known as the "Boss Scam." This scam involves fraudsters impersonating senior officials like CEOs or MDs to trick finance teams into transferring funds, often using advanced AI tools or malicious software. Sebi advises organisations to verify requests independently and report incidents to prevent financial losses.
Union Minister Ashwini Vaishnaw indicates India may require a new legal framework for Artificial Intelligence, as the current IT law predates AI's rapid emergence. The government aims to balance innovation with regulation, engaging with the industry to ensure citizen safety while fostering technological growth.
Amazon plans to significantly expand its use of automation and advanced robotics, including systems like the SLAM labeler, across its Indian fulfilment centres. The company, which has committed substantial investments in India, also highlighted its global rollout of autonomous robots like Proteus and cautioned against premature AI regulation that could stifle innovation.
Infosys co-founder Nandan Nilekani predicts that large corporations in India will lose jobs due to automation and AI, while millions of small businesses will drive future employment growth. He advocates for deregulation, simplified business interfaces, and digital platforms to support small entrepreneurs and a gig economy workforce.
A new report by ADP reveals that one in two Indian companies plan to adopt AI-powered payroll systems within the next 12 months, driven by the need for automation in workforce management, compliance, and compensation decisions. However, firms are increasingly cautious about data protection risks, especially with the implementation of the Digital Personal Data Protection (DPDP) Act, 2023.
'Applying AI to change the lives of Indians and at population scale -- just like we did with DPI [digital public infrastructure] -- is really where it's going to go.'
It won't take away your jobs. It won't destroy you.
Despite current headwinds, India remains the world's fastest-growing major economy and should not allow near-term challenges to obscure its long-term growth potential, said Jane Fraser, Citi Chair and Chief Executive Officer.
Rockwell Automation's CEO Blake Moret highlights India as the centrepiece of the company's Asian growth strategy, detailing its four-decade presence, significant employee base, and support for the 'Make in India' initiative. The company sees major opportunities in pharmaceuticals, automotive, food and beverage, and consumer products, with AI playing a crucial role in simplifying industrial automation and boosting productivity for Indian manufacturers, including MSMEs.
Supreme Court judge Justice B V Nagarathna has cautioned against the over-reliance on Artificial Intelligence (AI) in the judiciary, emphasising the need for judicial independence from algorithmic influence. She stressed that AI should only serve as a tool and not replace human judgement, which is guided by legal reasoning, constitutional values, and a deep sense of justice.
Karnataka Chief Minister Siddaramaiah has called for the establishment of a Supreme Court bench in South India to improve accessibility to justice. Speaking at a conference on Artificial Intelligence in the judiciary, he also highlighted the need to address algorithmic bias and ensure judicial independence in the age of AI.
Finance Minister Nirmala Sitharaman met with bank heads to discuss risks related to Artificial Intelligence (AI) following global concerns over Anthropic's Mythos model threatening data security of financial systems.
While opening new accounts, banks can check if the name appears in any mule data. In case it does, the bank can conduct enhanced due diligence.
Prime Minister Narendra Modi, addressing the SCO summit in Bishkek, called for a united front against terrorism and its financing, rejecting double standards. He emphasised resolving conflicts through dialogue and diplomacy, not battlefields. Modi also highlighted that connectivity projects must respect national sovereignty and territorial integrity, a veiled reference to China's Belt and Road Initiative. India's vision for SCO rests on security, connectivity, and opportunity.
Notwithstanding the economic complementarities and the host of agreements for deepening economic relation on a host of areas, both sides share common viewpoints on the foreign policy domain and seek common grounds to serve as a counterweight to China, notes Dr Rajaram Panda.
Shares of Reliance Industries climbed nearly 3 per cent after its digital unit, Jio Platforms, filed draft papers for what could become India's largest-ever initial public offering, with the offering potentially raising around Rs 37,700 crore (USD 4 billion).
A new book by cybersecurity expert Durga Prasad Dube explores how artificial intelligence is reshaping the global digital landscape and creating new cyber risks.
Recognising the growing use of AI/ML models by regulated entities across business and decision-making processes, the RBI said weaknesses in governance, oversight, risk management, and controls could expose institutions to financial, operational, compliance, and reputational risks.
The Bureau of Indian Standards (BIS) is preparing to significantly increase its silver jewellery testing capabilities and expand its national laboratory network, driven by a shift in consumer demand from gold to silver and a broader push for enhanced product certification and surveillance.
