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Will India’s AI Regulations Stunt GCCs’ Growth?
- The proposal of Artificial Intelligence guidelines by the government could harm the scalability prospects of Global Capability Centres (GCCs).
- GCCs in India are focussed on accelerating their time-to-market primarily by building advanced skills, capabilities, and cost-efficiency.
- According to a report, the concentration of computational power and data infrastructure in a few hands has led to concerns of unfair trade practices.
- Assessing “market dominance” and “abuse of dominance” in the AI environment would require regulators to continuously monitor its shifting dynamics.
- Initiatives like mandatory reporting, liability management across the AI lifecycle, and tools such as watermarking can lead to increasing overhead and compliance requirements for GCCs, notably data protection, accountability, and bias mitigation.
- GCCs require agility and a non-restrictive regulatory environment to remain efficient and competitive in the AI race, according to Arijit Mitra, MD at BEAT, Acuity Knowledge Partners.
- However, experts like Tushar Bisht, senior principal software architect at Sabre, look at the AI governance guidelines as a commendable step towards promoting safe and responsible AI integration.
- The GCC sector in India is aiming to shape the future by creating jobs through innovative AI-based solutions.
- GCCs must adopt proactive strategies, stay informed about evolving global tech regulations, and foster collaboration with regulatory bodies to shape compliance standards, according to a report by Nasscom Community.
- The GCC sector is expected to see growth in the coming years with the sector likely to go from 1,580 in 2023 to 2,400 GCCs in 2030 while creating over 4.5 million jobs in India.
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