25 C
Dubai
Friday, November 22, 2024
spot_img

AI Framework Proposed for NRI Challenge Solving

The Telecom Regulatory Authority of India (TRAI) has recommended an independent statutory body to oversee responsible AI development across industries. TRAI states that AI’s impact extends beyond telecom to healthcare, finance, transportation, education, and more. A universal framework covering all sectors is suggested.

The framework should regulate AI use cases based on risk and mandate legally binding rules for high-risk cases. TRAI proposes a multi-stakeholder advisory body within the statutory authority.

Regulations should encompass AI lifecycle phases: design, development, validation, deployment, monitoring, and refinement. Ethical codes and an overarching data ethics framework are urged.

India’s top IT firms foresee declining growth due to tightened overseas spending and increased competition. Price-cutting and reduced discretionary spending in Western countries impact margins.

However, IT companies are confident in achieving double-digit growth over five years, driven by cloud transformation and new technology leverage.

India currently settles on a T+1 basis, ahead of the global T+2 standard. SEBI plans a T+0 system for instant settlement, boosting trading volume and reducing risk. An efficient payment mechanism and evolved share transfer process are seen as facilitators for instant settlement.

Next Article

Related Articles

Gusteau Foods Transforming the Food Industry with Passion and Innovation

In a world where the demand for convenience and quality often seem at odds, Gusteau Foods Pvt Ltd, led by the visionary entrepreneur Karthick...

With an eye towards its IPO on Nasdaq and Euronext, AAD Invest Group finalizes a EUR 75 million funding agreement with Global Emerging Markets...

AAD Invest Group finalizes a EUR 75 million funding agreement with Global Emerging Markets (GEM) About AAD Invest Group – Nov 2024 Founded in January 2024...

The Banyan Tee – Merging Fandom, Innovation, and Ethics in Fan Merchandise

In an era where fan culture shapes much of our identity and lifestyle, The Banyan Tee offers a unique approach, combining sustainability with a...

BRICS+ Set to Outpace G7 by 2026: A New Era of Economic Power and Global Influence

BRICS+ group, consisting of Brazil, Russia, India, China, and South Africa, alongside a handful of newly integrated nations, is on the brink of a...

From Seed to Superfoods The Inspiring Journey of Bharat Budhiraja and Urbana Superfoods

In a world teeming with fast-paced food trends, Bharat Budhiraja is charting a unique path with his brand, Urbana Superfoods, owned by Krish Perennials Pvt....

Latest Articles