B20 Summit 2023 : PM Modi seeks Global Framework on Crypto and AI
Narendra Modi, the prime minister of India, emphasizes ethical AI and the need for responsible cryptocurrency regulations when speaking to business leaders.
In his speech at the B20 Summit in 2023, Indian Prime Minister Narendra Modi underlined the importance of creating a global framework for cryptocurrencies and artificial intelligence (AI).
PM Modi emphasized the significance of focusing on “ethical” AI while addressing more than 1700 corporate leaders and experts from around the world. He asked industry leaders to engage in intelligent debates on topics like bitcoin and AI.
B20 Summit: Promoting Ethical Business Conduct
The three-day B20 Summit, a component of the G20 summit that represents the international business sector, began on Friday (August 25). Business executives came together at the summit with the subject “R.A.I.S.E.” Responsible, Accelerated, Innovative, Sustainable, and Equitable Businesses to address hot topics and trends reshaping the world of business.
PM Modi’s Address: Global Framework for Emerging Technologies
The Prime Minister of India, Shri Narendra Modi, described how businesses have the ability to transform potential into prosperity and ambitions into accomplishments. Speaking to the crowd, he emphasized the importance of “pro-poor policies,” which are anticipated to significantly expand India’s middle class in the upcoming years.
PM Modi then turned his focus to technology, urging businessmen to actively discuss and work together on issues like cryptocurrencies and artificial intelligence. He emphasized the significance of creating a global framework to oversee cryptocurrency while concentrating on the creation of “ethical” AI procedures.
He emphasized the need to make sure that these technical breakthroughs are in line with ethical norms while recognizing the rapid pace of technology disruption and its influence on society.
Prioritize sustainability and addressing climate change
PM Modi emphasized India’s introduction of a green credit system as an example of its dedication to environmental stewardship and a pro-earth policy that other nations should follow.
He urged collective action to establish an ecosystem that supports a healthy globe, making a comparison between personal health awareness and the larger duty of protecting the earth’s wellbeing.
Responsible, Accelerated, Innovative, Sustainable, and Equitable Businesses (R.A.I.S.E. ), the summit’s theme, captures the fundamental principles and goals of the business community’s contribution to global advancement.
Outlook and Notable Attendees
India’s Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal, External Affairs Minister S. Jaishankar, and Education Minister Dharmendra Pradhan were among the prominent figures present at the summit.
International business executives provided their perspectives on market trends and innovation, including Brad Smith, President and Vice Chairman of Microsoft, Arvind Krishna, CEO of IBM, and Michael Miebach, CEO of Mastercard.
At the completion of the B20 Summit on Sunday, Brazil will assume the organization’s presidency, beginning a new chapter in the forum’s commitment to promoting ethical and beneficial business practices on a worldwide level.
