India's G20 Sherpa Amitabh Kant on Monday said while artificial intelligence (AI) offers exciting new opportunities, such technologies also bring with them new risks, threats to personal privacy and concerns about fake news.

He was speaking at the second G20-SAI Summit of the SAI20 Engagement Group here.

Kant said the world is interconnected today with technology. It plays a crucial role in the functioning and the transformation, and helps to collect, process and disseminate information more quickly and efficiently.

"And with this vast data, we are seeing the emergence of generative artificial intelligence. These are playing a very critical role in the lives of citizens, they have both a positive as well as disruptive potential," he added.

India's G20 Sherpa further said there is a need to realise that the future rapid advancements in artificial intelligence, and, in particular, the transformative potential of generative artificial intelligence, offer exciting new opportunities for human advancement.

"These technologies also bring with them new risks, fresh forms of discrimination and bias, threats to personal privacy and data protection, concerns about fake news … also new risks to online safety," he said.

Nations of the world need to adopt a balanced approach to this new technology, Kant added.

As G20 countries, he stressed on the need to have a pro-innovation approach that maximizes the value of these technologies and offers entrepreneurs the freedom to innovate within a principle-based ethical framework.

The risk mitigation can only be effective with early warning of new risks and imminent threats, Kant said.

Kant further noted that SAI India's endeavours during its SAI20 Chairmanship have been to amalgamate with India's G20 priorities -- green development, climate finance & lifestyle for environment, accelerated, inclusive & resilient growth, accelerating progress on Sustainable Development Goals, technological transformation and digital public infrastructure and women-led development.

The CAG of India, he said has selected two very critical and important priority areas, Blue Economy and responsible artificial intelligence for the SAI20 engagement group and both of them are in consonance with our guiding philosophy, 'One Earth One Family One future'.

"They will have a great significance and direct impact on the lives of our citizens," he added.

Kant said G20 needs to take the initiative and drop an action plan to counter the detrimental impacts of global warming and climate change by leveraging the oceans for conservation and preservation, protection and sustainable development of the seas and the marine areas beyond national jurisdiction with the overall vision of clean and healthy oceans for a safe earth.

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