Ashish Chauhan, CEO of the National Stock Exchange of India (NSE), recently highlighted the transformative potential of artificial intelligence (AI), calling it a game-changing technology that could revolutionise productivity across sectors like power, telecommunications, and IT.
In a post on X, Chauhan asserted that AI is a very useful technology and has the potential to change life in next few years. He is optimistic that AI will generate substantial productivity gains in most areas like electricity, telecom or IT. Chauhan also critiqued the way the US emphasises massive investments over innovation, using costly hardware and trillion-dollar models to dominate the AI landscape while sidelining smaller countries and companies.
He noted that the highly expensive hardware, trillion-dollar models, etc., were part of the hype, awe, and wonder model the US adopts to control most new technologies while excluding smaller countries and smaller companies.
“AI story till now. It is still unfolding. AI is a very useful technology and will change life transformationally in next few years and decades. It will generate substantial productivity gains in most areas like electricity, telecom or IT did. In AI, Large US companies and Government of US tried to project it as a matter of large investments rather than use of brains. Extremely Costly hardware, trillion dollar models etc were to some extent part of the hype, awe and shock model US adopts to control most new technologies to keep small countries and small companies out,” Chauhan wrote on X.
He further noted that it has often been projected that countries like India could lag in the AI race, as they lack the financial scale of the US and the government-directed investment capabilities of China. However, the AI landscape is evolving rapidly and becoming increasingly democratised. This democratisation, according to Chauhan, is driving down the cost of new technologies, and AI innovations are emerging at such a fast pace that no single entity can fully control, comprehend, or claim ownership over them.
“AI field has been changing fast and becoming democratised every day. Democratisation of technology brings down costs of new technologies with each passing day. The AI tech waves are coming faster at a pace that no one is able to control or even comprehend let alone own. Last few weeks have proved that much more effective hundreds of open weight AI models coming out of China and other countries don’t require large compute also that has been projected by US AI groups. These Chinese models are being proved to be equal or better in their effectiveness for purpose,” he added.
Chauhan also expressed growing confidence that India could become one of the biggest winners in the AI race over the next 20-30 years. For this, he emphasised that Indian policymakers, organisations, and individuals will need to work hard. “I am becoming more confident that India will be the biggest winner of AI race as the most adaptive country for Information technology in next 20-30 years. Indian policy makers, organisations and individuals will have to work hard, coordinate and make the best out of this extremely fast evolving situation,” he stated.
