Best of BS Opinion: Investing in AI, China’s ambitious goals and more

The Union Cabinet last week approved a package of Rs 10,371.92 crore for the National AI Mission, mainly to support private sector initiatives. While this is well-intentioned, the fact is that the private sector is able to find the necessary investments to build the computing infrastructure and develop the models and the market. What is needed is adequate policy support for an enabling environment for the AI ​​ecosystem – in terms of regulations, legislation, customs and tax policies. Furthermore, because AI works on massive amounts of data, there is an urgent need to refine the processing and storage of both personal and non-personal data as the industry grows. These are policy problems and inputs that only the government can tackle, the top editors argue. read it here.

The second edit explains why the National People’s Congress’s targets for gross domestic product growth and inflation in the coming year have been met with disbelief. read it here

Debashis Basu outlines the recent moves by RBI and Sebi to cool the exuberance in fintechs and markets. read it here

Ajit Balakrishnan reflects on the policy trade-off between allowing the widely varying performance of ChatGPT-like entities and encouraging innovation. read it here