Budget 2024: The Finance Minister will present the budget on July 23. Before the budget, people from every sector are placing their demands before the government. Amid India’s rapid adoption of artificial intelligence, people associated with the cyber security area hope that the upcoming Union Budget will include measures to boost the security of the country’s digital area through allocation of funds.
Tarun Vig, CEO and co-founder of Inefu Labs, said that the global focus on artificial intelligence (AI) is important for India. Vig said that AI and machine learning models can help prevent and identify any attack on software. But this will require government support to grow, nurture and retain top cyber talent and empower companies to invest in research and education of AI models for cyber security.
He said while other countries are busy building their AI infrastructure, India should prioritise AI which could include training AI and ML models to improve our defence and intelligence posture, curb cyber crimes, identify money laundering networks or take governance to the remotest villages of the country.
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Wig said that government support for research and development initiatives would be a great help for private sector companies as well as academia. This would promote a digital environment that can drive future advancements in AI and other emerging technologies.
The government had announced a fund of Rs 1 lakh crore for research and development in emerging IT in the interim budget for the financial year 2024-25. Investment on cyber security is similar to investment for digital economies. He said that India is one of the countries that fall prey to cyber attacks across the world. Shekhar said that while the government is trying to digitally empower every citizen of the country, it also becomes necessary to secure them. We request the government to consider creating ‘Indian leaders in cyber security sector’ to fulfill the aspiration of developed India by 2047.
