MeitY drafting sector specific AI consultation paper urging regulator action
India's technology ministry (MeitY) is drafting a consultation paper on AI governance, but instead of a one-size-fits-all policy, they're tailoring guidelines for each sector, like banking and securities and commodities markets, since risks can look really different depending on where AI is used.
Officials say it's important that regulators like SEBI and the Reserve Bank of India (RBI) step in with their own specific rules, too.
Ashwini Vaishnaw, TRAI press AI accountability
MeitY minister Ashwini Vaishnaw announced this upcoming paper, moving away from the old idea that current laws were enough to handle AI.
Now, the focus is on building a smarter legal framework and getting feedback from everyone involved right from the start.
Meanwhile, the Telecom Regulatory Authority of India (TRAI) wants telecom companies like Jio and Airtel to be held responsible if their AI systems mess up, highlighting just how much stricter standards are getting as AI becomes more common.