Neelkanth Mishra,newly appointed Executive Director at World Bank,says India's AI potential isn't about competing for cutting-edge tech but using it to solve societal issues. Speaking in New Delhi,he acknowledged India's hurdles in AI and semiconductor manufacturing. But he sees big chances in applying AI in healthcare,education,banking .
Mishra noted India isn't leading global tech race but can create real value by focusing on practical AI uses. “I think we are going to do extremely well when the narrative shifts from generation of intelligence to deployment of intelligence,” he said. Real benefits come when AI tackles systemic challenges.
Despite optimism,Mishra pointed out India struggles to attract risk capital,crucial for AI growth. There's funding gap; Indian firms often can't secure hundreds of millions,while global peers draw billions. “At these levels of per capita wealth, there is not enough risk capital in the economy,” he explained.
On semiconductors,Mishra praised India Semiconductor Mission. Proud of progress in last four years — India went from nearly zero manufacturing to multiple packaging facilities. First wafer fabrication plant's in the works. “From having nothing on the ground, now we have so many plants doing semiconductor packaging,” he said.
But India still trails far behind in chip tech. Current capabilities are at 28 to 40 nanometers,while cutting-edge is 1.8 nanometers. “We are like maybe eight,nine generations behind,” Mishra noted. He's hopeful about Semicon 2.0 program,aiming to bring 7-12 nanometer chip manufacturing within a decade.
Mishra stressed need for more investment in research and innovation. Acknowledged growth of innovation ecosystem but said it must expand hugely to meet future needs. “The ecosystem needs to be 100 times bigger,” he stated,noting recent surge of engineers tackling complex issues.
While India isn't leading in AI or semiconductors,the country could use AI in meaningful ways. Focus on deployment,not just development,could help India carve unique niche in global tech scene…
