The Comptroller and Auditor General of India (CAG), Girish Chandra Murmu, stated that AI can contribute $15.7 trillion to the global economy by 2030 but raised concerns linked to its privacy and maintenance of ethics in audits.

While inaugurating the SAI20 delegates meeting of G20, he stated that democratizing AI technology is inevitable and that we had reached a level where AI could contribute up to $15.7 trillion to the global economy by 2030. AI has the potential to lead to socio-economic growth, and it could be used to benefit citizens and the country through targeted and timely intervention.

A total of 39 national and international delegates from G20 member Supreme Audit Institutions, Guest SAIs and other international organizations attended the event.

CAG added that AI has the potential to solve issues related to areas like healthcare, retail, finance, agriculture, food, water resources, environment and pollution, education, special needs, transportation, energy, public safety, disaster, management and judiciary.

He also addressed concerns related to transparency and fairness. In his opinion, these issues include the impact of AI on privacy, bias and discrimination in AI systems and inadequate understanding of AI algorithms by the general public. He stressed the need for responsible AI in ethics.

While recognizing the importance of sustainability, growth and the role of emerging technologies, Murmu stated that the “responsible AI and blue economy” represents the new age opportunities and concerns. Explaining the criticality of the priority of the Blue Economy, the CAS said it is an economic system that encompasses a spectrum of policy and operational dimensions aimed at conserving marine and freshwater environments while promoting their sustainable use, producing food and energy, supporting livelihoods, and acting as the driver for economic advancement and welfare.

https://indiaai.gov.in/news/ai-has-the-potential-to-contribute-15-7-trillion-to-the-global-economy-by-2030-cag-girish-chandra-murmu