National Technology Day: "AI must be implemented in a way that aligns with values", says Numadic cofounder Aprup Shet

The rise of various technology verticals has placed India in a unique position where it can tap into a major growth spurt, provided some challenges can be addressed first, explains Aprup Shet, cofounder of Numadic.

| Updated on: May 11 2023, 15:41 IST
artificial intelligence
“India is projected to witness a shift of 30-50 billion transactions per month to automated transactions within the next few years”, says Aprup Shet. (Pexels)
artificial intelligence
“India is projected to witness a shift of 30-50 billion transactions per month to automated transactions within the next few years”, says Aprup Shet. (Pexels)

As India celebrates National Technology Day, it is important to recognize the unique position India is in currently. From the sudden rise of electrical vehicles (EV), artificial intelligence (AI), UPI and digital banking usage, 5G rollout to the entry of new-age tech startups, India has all the tools in the right places to tap into a high growth spurt and bolster both the economy and our technological foundation for years to come. And to highlight the tech potential of India, we at HT Tech had a conversation with Aprup Shet, cofounder of Numadic, a vehicular interface platform.

Q. 1 How have you seen technology grow in the last year?

Technology has been instrumental in driving India's remarkable growth. Key trends include transitioning to clean energy with advancements in solar and wind power, embracing automation and additive manufacturing as a manufacturing alternative, widespread digitization with cashless payments and digitizing vehicular movement, the entrepreneurial spirit of India's youthful population, and collaborative initiatives like with the United States focused on China, hold the potential to greatly benefit India's tech sector. These trends, supported by talent, innovation, and favorable policies, have fostered a thriving startup ecosystem, positioning India as a global technology powerhouse driving economic development and contributing to global progress.

Q. 2 What are some of the biggest trends that you can foresee in the year 2023?

In 2023, India will continue its push towards a cashless society, focusing on digitizing vehicular movement. Cashless payments for tolling, parking, fuel, electric vehicle charging, and auto insurance will streamline transportation transactions. Data analytics, AI, and machine learning will optimize traffic management and route planning. GPS-enabled payments, exemplified by FASTag, will make toll payments convenient. India's digitization of vehicular movement, fueled by its position as the world's third-largest auto market, is set to simplify processes and transactions. Automating fuel payments will precede the widespread adoption of autonomous vehicles, and the FASTag wallet will facilitate EV charging. Overall, India is projected to witness a shift of 30-50 billion transactions per month to automated transactions within the next few years.

Q. 3 What are some of the major bottlenecks in technology at present, and how do you think they can be solved?

One of the major bottlenecks in technology at present is the need to address governance challenges in digitalization, including establishing standardized policies and regulatory frameworks, improving digital infrastructure and connectivity, promoting digital literacy and skills among the population, prioritizing data privacy, and ensuring the protection of user data. By implementing robust policy frameworks, enhancing connectivity, fostering digital literacy, and safeguarding data privacy, India can overcome these bottlenecks and fully leverage the potential of technology. Collaboration between the government, industry, academia, and civil society is essential to drive this transformation and accelerate India's digital journey.

Q. 4 Is technology good for mankind? What is your opinion of the current rise of AI?

Technology, including AI, has the potential to bring significant benefits to mankind. It has revolutionized various industries, increased efficiency, and enhanced the overall quality of life. However, with AI specifically, there are considerations to be made regarding ethical and responsible development and usage. It is crucial to ensure that AI is designed and implemented in a manner that aligns with human values, promotes transparency, and safeguards against biases or unintended consequences. By embracing a balanced and thoughtful approach, we can harness the benefits of AI while mitigating any potential risks.

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First Published Date: 11 May, 15:40 IST