V Anantha Nageswaran warns AI risks at ASSOCHAM FinTech Festival
India's Chief Economic Adviser, V Anantha Nageswaran, just flagged some big concerns about AI in the financial world.
At ASSOCHAM's FinTech Festival, he pointed out that while AI can help banks spot credit risks and financial stress early, it could also lead to unfair exclusion if not handled carefully.
He emphasized that safety, fairness, and keeping humans involved should be top priorities as we bring more tech into finance.
Nageswaran outlines long term economic challenges
Nageswaran also talked about challenges coming up for India over the next 20 years, like shifts in geopolitics, technology, and climate.
He urged both government and private players to invest more in youth education and mental health.
On cross-border payments, he said regulatory architecture and technology infrastructure were important preconditions, while growth in underlying trade in goods and services matters more for sustainably expanding payment flows.
All these points highlight growing worries about how AI might shape our economy and everyday life.