AI To Profoundly Transform Global Economy, World Equilibrium in Coming Years: Mistral AI CEO

New Delhi: Artificial intelligence will profoundly transform the global economy and world equilibrium in the coming years, but excessive leverage must be banned for stability, Mistral AI CEO and Co-founder Arthur Mensch said on Thursday."AI is going to change pretty profoundly the way economy is being run in next few years...the equilibrium in the world.

And in order for the equilibrium to remain sustainable and stable, we need to have to ban excessive leverage, and India is a leader in betting on self-reliance, which is absolutely critical for a country of this size," he said.

Mensch highlighted India's "extremely large" opportunity in artificial intelligence, driven by its vast talent pool, cultural diversity, ambition, and massive market size.

"We believe that India opportunity is extremely large in its talent. A quarter of our researchers are actually Indians. Its diversity of culture and its ambition, and the size of the market and the size of its industry is giving it immense leverage when it comes to building artificial intelligence that will be differentiated," Mensch said during the AI Impact Summit here.

By controlling its own AI, India can emerge as a "global hub for innovation" and "lead the way for the entire world", he asserted.

Addressing businesses, Mensch advised that adopting AI "is going to take some time, but it's going to bring immense leverage".

"You have unique assets in your companies. You have IP, you have knowledge, you have folklore knowledge, the way you're processing... the way you're operating your business is different from the way your competitors are operating it," he noted.

He also stressed that AI is not about replacing humans; it's about giving them a way to delegate many of their tasks.

"It's about enhancing what serves them, and it's about solving real problems. So at this time, we work with public services. We work with healthcare. We work on making sure that citizens can access information in an easier way, in a faster way. We work on making sure that unemployed people ...are able to find a job faster...," he explained.

AI should be a tool that empowers people, businesses and ensures that governments can improve the quality of their services and the lives of the citizens.

However, it only works if everybody can access it and if everybody understands how to use it.

"That's why multilingual AI is actually a very strong necessity. That's also why we need to focus on training people and on bringing them the technology at an affordable price," he explained.