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Girish Chandra Murmu, India’s Comptroller and Auditor General (CAG), emphasized the need for responsible use of artificial intelligence. He noted that while this cutting-edge technology can potentially boost the global economy by $15.7 trillion by 2030, AI raises concerns about privacy and fairness.
In his opening remarks at the Supreme Audit Institutions (SAI) of the G20, the CAG also said that the blue economy must balance short-term growth and long-term sustainability because it can significantly impact the planet and life there.
The conference’s two themes, responsible AI and blue economy represent new-age opportunities and concerns. The SAI20 conference focused on the need for gender balance in sustainable growth in the blue economy and the principles behind the responsible and ethical use of AI.
“Today, we have reached a level where AI could contribute up to USD 15.7 trillion to the global economy in 2030,” CAG Murmu said in his opening remarks at the SAI20 conference.
AI can improve several industries, including healthcare, retail, finance, agriculture, food, water resources, the environment and pollution, education, special needs, transportation, energy, public safety, disaster management, and the judicial system.
“While AI offers many opportunities, it also raises concerns related to privacy and fairness.
“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 said.
The blue economy is a priority area CAG described as extremely important. It is an economic system that entails a range of operational and policy dimensions intended to preserve freshwater and marine environments while promoting their sustainable use, produce food and energy, support livelihoods, and catalyze economic growth and welfare.
The Comptroller and Auditor General of India (CAG) serves as the SAI20’s chair, while India holds the presidency of G20.
The three-day event features SAIs from India, Australia, Brazil, Egypt, Indonesia, South Korea, Oman, Russia, Saudi Arabia, Turkey, and the United Arab Emirates. Two World Bank representatives also attend the conference.