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India :
and Australia collaborate in blockchain
technology and artificial intelligence
India and Australia have pledged to strengthen bilateral relations to
shape the framework for managing emerging and destructive
technologies in the wake of rapid innovation and adoption rates.
Sarah Storey :
Deputy High Commissioner of the Australian High Commission to India
stated that greater international cooperation ensured
the safe use of emerging technologies.
Storey commented :
at a technology event organized :
- by CUTS International and IIIT Bangalore
- attended by Indian policymakers
The two countries are keen to
establish uniform standards in the areas of artificial intelligence
blockchain technology, 6G and big data.
Storey noted that it is essential that like-minded States deal
with the challenges posed by biotechnologies
and emerging technologies, including the sixth generation .
Its comments follow the signing of
a memorandum of understanding between India and Australia on September 3
which is expected to see the two countries cooperate in technical standards
spectrum management and communications policy.
Both countries lay the foundation for the 6G network
proactively establishing an ethical framework.
At this event :
CUTS International Vice President Ojwal Kumar revealed that
the proposed ethical framework will include several principles, including privacy
data protection
health competition, inclusivity and environmental sustainability.
Speakers at the event warned against "partial regulation"
of 6G networks and other emerging technologies
citing the potential to stifle innovation in this area.
The two countries have chosen different paths with AI, with Australia pushing for a blanket ban on high-risk AI tools, and seeking feedback through public consultation.
On the other hand
the Reserve Bank of India (RBI) has adopted this technology
proposing to launch instant AI-enabled conversation payments.
The same trend can be seen in blockchain technology, where Indian regulators look forward to using technology in finance with scepticism.
However
Australia's central bank has launched a stable currency to improve the status of
cross-border transactions for citizens.
Despite the difference
both countries remain determined to crack down on cryptocurrency
scams through public awareness and increased enforcement action.
The Uniform Universal Rules augur well
India has made the development of unified global regulatory standards
for digital currencies one of the focal points of its G-20 presidency.
Over the past 10 months
India says the G-20 has made significant progress in drafting international rules after lengthy deliberations with central banks and finance ministries in member states.
Indian Finance :
Minister Nirmala Sitaraman said:
We are talking to all countries, that if regulation is required
one country alone will not be able to do anything.
In the field of artificial intelligence
the UK is seeking an international approach to democratic
countries through a global AI summit in November.
China :
the European Union :
and the United States have already taken the lead in drafting domestic legislation for their AI environmental regulations, with little interest in global cooperation.