US-India Business Council Launches AI Task Force with Meta Co-Chairing

By siliconindia  |  Saturday, 27 April 2024, 09:06:28 AM IST

US-India Business Council Launches AI Task Force with Meta Co-Chairing
The US-India Business Council (USIBC) has named Meta, a leading force in social media, as the Co-Chair of its artificial intelligence (AI) task force. This decision was made during the task force's first virtual meeting. Additionally, Inderpreet Sawhney, Chief Compliance Officer and Group General Counsel at Indian IT powerhouse Infosys, has been appointed to the AI board advisory panel of USIBC.
Besides, Bala Subramania, Senior Executive at UPS, and Akash Shah, Chief Growth Officer at BNY Mellon, also joined the AI advisory committee. “As we advance our Al task force, we are thrilled to welcome these exceptional individuals to our esteemed Al board advisory committee alongside Meta as the co-chair of our Al task force Their leadership and expertise will play a crucial role in shaping our strategic approach to Al, enabling us to navigate the challenges and opportunities across various sectors”, said USIBC’s President Ambassador Atul Keshap.
The council highlighted that the discussions during the initial meeting centered around fostering cross-sector collaboration in the AI domain. In a statement, the council emphasized that the new appointments will enhance USIBC's endeavors to promote collaboration and innovation in the dynamic field of AI, leveraging top business expertise from both the United States and India.
Commenting on his appointment, Infosys’ Sawhney said, “It is a privilege to be part of (the) Al advisory committee. As part of this Committee, I am eager to share our experiences around the techno-legal aspects of Al that Infosys had the opportunity to shape. With our combined talent pool and data resources, the collaboration between India and the U.S. has tremendous value to unlock”.
The appointments come two months after the USIBC announced a new AI task force in February this year to “align the leadership of India and the US in the realm of artificial intelligence”. Back then, it was reported that the new task force would propel AI concepts, drive the multi-stakeholder processes, and foster development and commercialisation of AI technology. 
India and the US have been actively seeking collaborations in emerging technology domains. Last November, both governments signed a pact to connect their startup ecosystems, with a specific emphasis on Critical and Emerging Technologies (CET). Concurrently, in the realm of AI, India is experiencing swift adoption. Besides well-known AI chatbots like OpenAI’s ChatGPT and Google’s Bard, the country is also witnessing the emergence of a growing GenAI ecosystem.
According to report on Generative AI Startup, the nation presently accommodates over 70 generative AI startups, which have collectively secured funding exceeding $440 million from 2019 through the third quarter of 2023. Forecasts suggest that the sector is poised to expand significantly, with expectations of reaching a market valuation of $17 billion by 2030, driven by the anticipated exponential growth of the emerging technology ecosystem in the forthcoming years.

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