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AI, machine learning can help achieve USD 5 trillion target: Piyush Goyal

Jan 7, 2020 by The Passage Team
AI, machine learning can help achieve USD 5 trillion target: Piyush Goyal

Commerce and industry minister Piyush Goyal on Monday said artificial intelligence (AI) and machine learning can help India achieve the USD 5 trillion economy benchmark over the next five years.

“Our government believes artificial intelligence, in different forms, can help us achieve the USD 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 USD 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.

Source: Economic Times

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