Artificial Intelligence (AI) is transforming the banking sector by enabling faster decision-making, improved customer experiences, and operational efficiency. However, it also introduces risks such as bias, model errors, data privacy issues, and regulatory challenges. AI auditing ensures these systems are ethical, transparent, and accountable throughout their lifecycle. Frameworks like RBI’s FREE-AI, along with global standards such as NIST AI RMF and CSA AICM, guide banks in implementing responsible AI. The way forward involves pragmatic guardrails, continuous monitoring, human oversight, and multi-stakeholder collaboration to balance innovation with risk, ensuring trustworthy and inclusive AI-driven banking.
Click to View MoreThe government has amended the IT Rules, 2021, to strengthen online safety and accountability. It introduced Grievance Appellate Committees, required intermediaries to protect users’ rights, and proposed mandatory removal of content flagged “false” by a Fact Check Unit, reshaping digital rights and platform responsibility.
Click to View MoreNITI Aayog’s AI roadmap promotes human-centric growth by driving large-scale skilling and reskilling, boosting startups, and ensuring ethical AI use. Targeting sectors like healthcare and agriculture, it aims to create jobs, promote innovation, and position India as a global AI leader for inclusive prosperity.
Click to View MoreWeather forecasting is essential for day-to-day life and disaster risk reduction. It enables early detection of weather-related calamities, minimizing loss of life and property. Continuous improvements in technology, data accuracy, and communication make forecasts more reliable. Public cooperation and preparedness based on forecasts are key to reducing disaster impact.
Click to View MoreIndia is deploying AI in its power grid for real-time risk detection, cyber security, and market surveillance, enhancing resilience amid renewable growth. This initiative strengthens grid stability, safeguards markets, reduces cyber vulnerabilities, and promotes indigenous innovation, aligning with global best practices.
Click to View MoreArtificial Intelligence is revolutionizing the Banking Sector by improving efficiency, security, and customer experience. However, challenges like high implementation costs, data privacy concerns, and skilled workforce shortages persist. The RBI emphasizes a balanced approach, including a robust regulatory framework and financial inclusion, to ensure successful AI adoption in banking.
Click to View MoreJudiciary is integrating AI for efficient, transparent, and accessible justice. Initiatives like SUPACE and SUVAS help judges with research and translation. However, AI presents ethical challenges like data privacy and algorithmic bias. A human-centric approach is crucial for fairness, justice, and accountability.
Click to View MoreIndia’s AI in governance, exemplified by tools like ‘SabhaSaar’, aims to enhance efficiency, transparency, and citizen-centric services. Success demands robust laws, ethical safeguards, skill development, and digital inclusion. Balancing innovation with accountability, India can draw global best practices to ensure AI serves public good without eroding trust or rights.
Click to View MoreCalifornia Institute of Technology researchers have developed Single Shot Microscopy (SSM), an advanced imaging technique that captures high-resolution images of molecules in nanoseconds. SSM offers benefits like speed, live-cell imaging, and clarity, and has the potential to revolutionize fields like biomedical research, materials science, and clinical diagnostics.
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