EAM Jaishankar highlights AI's transformative role in global economy at CII summit

External Affairs Minister S. Jaishankar emphasised the far-reaching impact of emerging technologies, particularly AI, on the global economy during the inaugural session of the 29th Confederation of Indian Industry (CII) Partnership Summit 2024 in Delhi. Jaishankar stated that AI is set to revolutionise every aspect of life, from how people work to how they think.

"We are entering an era of AI, EVs, space and drones, and clean technologies like green hydrogen and ammonia," Jaishankar said. He underscored the importance of human resources in adapting to these advancements, noting that the knowledge economy requires innovation, creativity, and an increasingly skilled workforce. He also highlighted the looming global demographic crisis, which intensifies the demand for talent and skills.

Jaishankar pointed out that India's expanding presence on the global stage—through economic, political, diaspora, and cultural outreach—has been driven largely by its businesses and talent. "India's goal is to work as 'Team India' abroad, and this is reflected in how the world views India, shaped by the experiences of individuals, corporates, and organizations," he added.

The minister also addressed the shifting global landscape, where many nations are returning to nationalistic policies and questioning established globalization norms. With AI poised for rapid development, he acknowledged the challenges this transformation poses for diplomacy and business. "Partnerships abroad will only be effective if we forge stronger ones at home," Jaishankar stated, stressing the need for cooperation as the world economy faces a turbulent period.

The 29th CII Partnership Summit, which brings together participants from 61 countries, includes discussions on resilient supply chains, sustainability, AI, gender equality, and other key issues aimed at fostering global collaboration for a sustainable future.