India a digital goldmine because of its population: Sanjeev Bikhchandani, Sarbvir Singh at IES 2024

At the fourth distinguished edition of Republic Media Network's India Economic Summit , Info Edge's founder Sanjeev Bikhchandani and Policybazaar.com's Managing Director Sarbvir Singh shared their insights into how artificial intelligence has changed India's digital economy and why the country has become a digital goldmine for AI companies. The leaders, discussing the ‘Bharat Digital Goldmine’ theme, said AI will be applicable everywhere, underscoring how it can help humans perform their jobs conveniently and more effectively instead of taking away their jobs.

Reflecting on India's fast pace to keep up with the post-AI world, Bikhchandani said, "We have a lot of data in India. India has got people. India has got use cases, and India has got vernacular languages. You can do a lot of stuff with AI in India," pointing to how the country has become a digital goldmine.

"We are using AI to improve the effectiveness of humans whether it is in terms of understanding what the customer is saying, whether it is in terms of what they have spoken to us and being able to transcribe what they have said and to suggest what next to do with them...(sic)," said Singh during the panel discussion with Bikhchandani, which was moderated by Sameer Manchanda, a veteran chartered accountant and an investor.

India Economic Summit 2024

The India Economic Summit is a historic gathering that serves as a beacon of India's economic growth, bringing together the country's brightest minds to discuss the aspirational journey toward becoming a $50 trillion economy by 2047. Union Finance Minister Nirmala Sitharaman attended as the chief guest. Other prominent figures present included Niti Aayog CEO BVR Subrahmanyam, National Stock Exchange CEO and Managing Director Ashish Chauhan, boAt co-founder and CMO Aman Gupta, and Patanjali co-founder Baba Ramdev.

Held at the Republic Media Headquarters -- Asia's largest newsroom centre, the Indian Economic Summit has become a landmark event that gathers industry leaders, business magnates, economists, and policymakers under one roof to dialogue on India's future as a global economic powerhouse. Discussions will delve into transformative ideas around policy innovation, infrastructure development, and inclusive growth to shape a vibrant, self-reliant India.