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Sitharaman Warns AI Could Influence Elections, Calls for Fintech Regulation
Nirmala Sitharaman said artificial intelligence can be useful but can also cause harm.
She called it a double-edged sword.
She warned that some new technologies may create risks.
These include agentic AI, tokenisation and quantum computing.
She said AI systems could change people’s opinions without them noticing.
She believes this could sometimes affect elections.
Sitharaman also said fintech companies should face lighter rules.
She wants regulators to manage risks without stopping new ideas.
Her comments came after reports raised concerns about how major AI companies are developing the technology.
Finance Minister Nirmala Sitharaman described artificial intelligence as a double-edged sword.
She warned that agentic AI, tokenisation and quantum computing pose emerging risks.
Sitharaman said AI could influence electoral outcomes without people realizing they were being influenced.
She called for a lighter regulatory approach for fintech to address risks without stifling innovation.
Her comments followed reports about concerns over responsible development at major AI companies.
- Who
- Finance Minister Nirmala Sitharaman.
- What
- She warned about AI’s risks, including its potential to influence elections, and advocated lighter fintech regulation.
- Where
- At the Global Fintech Fest.
- When
- Friday.
- Why
- To highlight emerging technology risks and support regulation that addresses fintech dangers without stifling innovation.
Key facts
- Speaker
- Finance Minister Nirmala Sitharaman
- Main characterization
- AI is a double-edged sword
- Technologies mentioned
- Agentic AI, tokenisation and quantum computing
- Electoral concern
- AI may influence opinions and electoral outcomes without people realizing it
- Regulatory position
- Sitharaman called for a lighter regulatory approach for fintech
- Event
- Global Fintech Fest
- Related concern
- Reports said a researcher who worked at Anthropic and OpenAI questioned whether major AI companies were developing technology responsibly
Quotes
Nirmala Sitharaman
India’s Finance Minister speaking at the Global Fintech Fest
“The model that I’m referring to, I’m not naming it, is fully capable of influencing the opinion on the ground without people even sensing that they are being influenced. To the extent that me, being a minister, being in politics, I’m clearly seeing it capable of influencing elections.”
indianexpress.com
Sources
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