India’s Prime Minister Narendra Modi Appraises Blockchain Technology, AI & ML

by | Oct 13, 2018 | Blockchain, Cryptocurrency News

India | Narendra Modi | Prime Minister | Blockchain | AI | Fourth Indutrial Revolution, ML

The onset of ‘4th Industrial Revolution’, offers a plethora of opportunities to emerging technology, but a key underlying ill-effect of it is feared to be the loss of jobs due to advancement. While embracing the revolution has become a necessity, governments world over ponder the changes this particular evolution will lead to. On Thursday the Prime Minister of India, Narendra Modi shared his view about the emerging 4th industrial revolution, its effects and what role will India play in this revolution at the launch of the Centre for the Fourth Industrial Revolution.

The ‘4th Industrial Revolution’ includes the likes of artificial intelligence, the blockchain, machine learning, Internet of Things, and big data. While addressing his countrymen during the launch Modi stated that modern technologies could enable a country to reach new heights. Addressing the fear of job loss, he added that the advancement will not just change the nature of jobs but offer more opportunities to the willings.

Furthermore, he noted that his government welcomes the fourth industrial revolution with open arms and is prepared to policy changes to help reap its benefits. He said:

“Our diversity, our demographic potential, fast-growing market size and digital infrastructure have potential to make India a global hub for research and implementation.”

Modi was quick to elaborate that the first and second industrial revolution happened when India was under British rule. While during the third industrial revolution, India was struggling to attain Independence and then subsequently evolving the nation. He boasts that now that India has a full galore of opportunities, the country’s contribution to the fourth industrial revolution will be monumental.

The PM further presented some figures, the teledensity in the country has increased to 93 percent and now almost 50 crore Indians have mobiles. India is one of the largest mobile data consuming country in the world with one of the cheapest data rates; the mobile data consumption has increased 30 times in four years. He adds that over 120 crore Indians have Aadhaar and all the 2.5 lakh village panchayats will be soon connected with optic fiber.  Presently,  1 lakh panchayats are connected with optic fiber, which a huge improvement in comparison to the 59 panchayats connected by 2014.

Read more: India May Launch Its Own Government Backed Cryptocurrency

Source: Business Today


Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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