The need for innovation to deal with different challenges is greater than ever, Microsoft co-founder and philanthropist Bill Gates said Thursday, asserting that Artificial Intelligence (AI) is the most transformative technology he has seen.

Addressing students at Indian Institute of Technology (IIT), Delhi, Gates he encouraged them to leverage the technology for social good.

"I am looking at India in a far broader way. I am lucky enough, through the work of the foundation, to look at innovators who can help with all kinds of problems -- starting with health, but also agriculture, gender, and climate. We need fantastic Indian innovation," Gates said during his keynote address on "Innovation for Public Good".

"The need for innovation to deal with many different challenges is greater than ever. You are all lucky to be here and have gotten an incredible education. The complexity of how we take technology and shape it, you will get an opportunity to play a big role there," he said.

Gates encouraged them to not only consider their careers in terms of financial impact but also how it relates to achieving social equality.

"Not only should you consider your career in terms of the financial impact - although that is important - but also whatever role you take on, do consider how that relates to achieving social equality. Technology should be leveraged for social good," he said.

Noting that Artificial intelligence is the most transformative technology he has seen in his lifetime, Gates said, "If I was a student today, the mysteries of AI would draw me in. It is kind of weird that even the systems that are working so well, we don't really understand them. I would definitely be drawn to that".

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