Nandan Nilekani, the co-founder of Infosys, expressed his views about Artificial Intelligence while speaking at the BT Mindrush conference.
Nilekani said, "This AI thing is huge. On one-level AI is scary, on the other it's exciting."
He also noted that he believes AI would have an impact across sectors and industries.
"I think it will have an impact on every business, every sector. Companies will have to start thinking how they will be AI first," he said.
He further went on to say that AI would have applications in the software development business as well.
"And just like every other business, it will have an impact on our business, the software development business. There is going to be a very high level of automation coming up. A lot of software would now be developed in a much more efficient way with AI. This will shoot up the productivity dramatically," the Infosys co-founder said.
Moreover, he also added that AI would not replace human beings at their jobs, but would increase individual productivity.
"It will not necessarily take away jobs, it will improve individual productivity. AI application in the workplace will lead to more work being done by the same amount of people," he explained.
He further added, "There will be multiple use cases and applications of AI in India, it is a big opportunity for everyone. Everyone is thinking about how to use AI in their business."
Although excited about the opportunities AI would open up for India, Nilenkani also believes that regulation is important.
"We need to put the right guardrails too," he said.
Nilenkani said, "India has been very good at balancing innovation and regulation. Aadhar is a very good example of this UPI is a very good example of this, RBI laid out the foundations for the regulation. We have an approach in India where we know how to balance regulation and innovation "
"Use cases of AI in India are going to be huge, we can not stop that, " he concluded.
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