NEW DELHI: Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, has asserted that Artificial Intelligence (AI) is not a threat to the content creation economy. Instead, he emphasized that AI has the potential to revolutionize the creative sector by lowering costs, expanding revenue streams, and reaching previously untapped markets.
Speaking at the launch of the ‘All India Initiative on Creative Economy (AIICE)’ in Delhi on Friday, organized by the Indian Chamber of Commerce as part of its 100th-year celebrations, Puri highlighted the positive impact AI can have on the creative economy. “AI offers an opportunity to broaden audiences and access markets that were once unreachable,” he said.
However, Puri also acknowledged the challenges posed by AI, including issues related to misinformation, copyright, intellectual property, privacy, and the risk of market monopolization. He stressed the importance of establishing a robust regulatory framework to effectively address these concerns.
The minister noted that a growing number of Indians, particularly the youth, are drawn to creative industries, finding them both appealing and secure for careers. This trend, he said, is a key factor in boosting India’s creative exports.
Puri also pointed out that AI is playing an increasingly significant role in newsrooms, with 41% of news teams using it to create illustrative art, 39% for social media content, and 38% for writing and generating articles.
He concluded by emphasizing the need for ongoing dialogue between industry stakeholders and the government to address the challenges and harness the opportunities presented by emerging technologies like AI.
