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Home » Inter-ministerial team to govern AI proposed – Technology News
AI in Finance

Inter-ministerial team to govern AI proposed – Technology News

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A panel appointed by the Ministry of Electronics and IT (MeitY) has recommended an inter-ministerial or whole-of-government approach to governing artificial intelligence (AI).

Indeed, according to the panel, a collaborative and coordinated approach from different regulators can enable them to be more efficient and effective, given the complexity likely to be involved in managing large-scale AI systems .

The committee said the committee could be headed by the chief scientific advisor and include representatives from all ministries. Even unofficial members could include people who can represent the interests of AI developers, AI deployers, data providers, data stewards and end users – so that perspectives from the overall ecosystem can be taken into account, according to a panel report.

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The recommendations were made in the “Report on the Development of Guidelines for AI Governance”. The report is subject to public consultations, for which comments can be sent until January 27.

The panel wants MeitY to have a technical secretariat or advisory body and act as a coordinating focal point for this governance group, which should create a database of AI incidents to understand the impact real risks linked to AI in India.

“The call for a whole-of-government approach recognizes the sectoral nuances of AI applications. From use cases emerging in sectors such as healthcare, finance, agriculture, education, logisticsand more, a coordinated and specialized strategy is essential to ensure that AI governance is not only comprehensive but also adaptable to diverse sector demands,” said Jameela Sahiba, Senior Program Manager at The Dialogue.

According to Sahiba, during the consultations it will be essential to elaborate on how a specific sectoral framework can be developed, taking into account the unique challenges of each. industry faced while ensuring the consistency of the general principles of governance.

MeitY is not currently considering regulating AI, but will instead follow a common code of conduct approach until such time as the walk matures.

To improve transparency and governance across the AI ​​ecosystem, the panel recommended that the Technical Secretariat engage the industry to make voluntary commitments to transparency across the AI ​​ecosystem. AI ecosystem.

The technical secretariat should examine the adequacy of technological measures to address AI-related risks, such as the use of watermarking, labeling and fact-checking to combat deepfakes, according to the panel.

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Alumni from Deliveroo launch fintech startup that raises 9 million pounds sterling

May 9, 2025

The German startup in the fintech sector raises 15 million euros by cutting costs by 80%

May 9, 2025

The implementation of AI in financial services has enhanced productivity by 30%

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