Nasscom chair Velamakanni urges firms to double AI tech spending
Srikanth Velamakanni, Chairperson of Nasscom, wants India's tech scene to level up, especially in AI.
At Plaksha University's launch of its "Masters in AI" program, he encouraged companies to double their tech spending compared to revenue growth, aiming to close the gap between India's 2.5% GDP tech investment and the global average of 4.5%.
Velamakanni urges affordable AI and sovereignty
Velamakanni emphasized that we need fresh perspectives on how AI affects our lives and jobs.
He sees a big opportunity for affordable AI software and believes humans and machines can work together.
He also called for teaming up with the government on "AI sovereignty," basically keeping control over essential systems and urged young people to learn how to build AI systems for better career prospects.
Velamakanni predicts AI boost, urges training
While he expects only single-digit growth in the tech industry this year, Velamakanni predicts a major boost from AI within 18 months, helping India compete globally.
He reassured that AI is meant to automate tasks—not replace jobs—and encouraged youth to focus on skills needed in an AI-driven world.