The Staggering Tech Industry Will Come Back Soon: Nandan Nilekani

The global technology sector, which is staggering presently, will soon come back, said Nandan Nilekani, non-executive chairman of Infosys while addressing an event. 

He further stated that though the sector will get back on its feet soon but nobody knows when.

Further adding to his statement, Nilekani highlighted that AI should be leveraged to solve social issues apart from creating business opportunities.

He said, “The combination of @ai4bharat with recent advances in generative AI and affordable phones, will enable a billion people to access the world’s knowledge and insights in voice interactions, in their own language. Now that is Inclusion!.”

His statement on the global tech industry scenario comes after the tech giants such as Meta, Google, Amazon and others laid off several employees globally.

Ai4Bharat is a centre at IIT Madras that focuses on building open-source language AI for the Indian languages, including datasets, models, and applications.

Recently, AI is making its way into various functions and sectors. Pertaining to this, the Indian government has also taken up measures to promote it. However, citing the potential cyber threats by excessive usage of AI, MoS, Rajeev Chandrasekhar said that the government will regulate AI usage to ensure it does not harm “digital citizens”.

His statement came just a day after OpenAI CEO Sam Altman met Prime Minister Narendra Modi to discuss AI opportunities in India. 

Addressing the media, Altman then said that he discussed what AI can offer to India, the steps ahead, and the needs for global regulations around AI to prevent some of the downsides of the technology.

Earlier this year, Sachin Dev Duggal and Saurabh Dhoot led Builder.ai announced that it bagged  investment from the tech giant Microsoft to collaborate on creating AI-powered solutions that will empower businesses to develop applications.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.