Artificial intelligence is at the centre of one of the biggest stock rallies in the world, while also spurring developments in many sectors. Now, India may have a key role to play in this emerging area of technology.
That's according to John Chambers, chairman of the U.S.-India Strategic Partnership Forum.
"Do I think India has a chance to lead in AI in a way it's never led in technology before? I really do," Chambers told Tamanna Inamdar of NDTV Profit in an interview.
He also said that he's been betting on AI companies, including a few Indian firms, for seven years. The technology, he said, will have a positive impact on the world and benefit every citizen, even as he expressed concerns regarding job displacement due to it.
"I have pushed for every one of my startups to become an AI company," he said.
Nearly half of the top companies in technology and AI have Indian leaders because of a strong education system that focuses on technology, according to him.
Optimistic Of India
Chambers is also bullish about India's prospects in the world. "India is destined to become the world's largest economy," he said, adding that in over a decade, Asia's third-largest economy would be 90% bigger than China's.
He attributed this to India being willing to take risks, which wasn't the case a few years ago.
Chambers said that he is a fan of Prime Minister Narendra Modi and wishes that the U.S. had some leaders like him.
While Chambers sees the growth in India, he sees a lot of trouble for China. Chambers had been betting on China, but he pulled away in 2017 and has since encouraged businesses not to do business in China.
"China's biggest mistake in the last decade was to look internally," he said. Chambers said it might be difficult for China to come back and most of the issues faced by it were self-inflicted.
Watch The Interview Here
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