World community should forge global protocol to meet AI, cryptocurrency challenges: PM Modi


NEW DELHI: Prime Minister Narendra Modi today said the world community should forge a “global protocol” to cope with challenges arising on account of new technologies such as artificial intelligence and cryptocurrency and give the Global South a say in decision-making.

The world also needs governments that are inclusive and use technology as a “medium of big change, PM Modi said in his keynote address at the World Governments Summit in Dubai, a flagship initiative of the United Arab Emirates (UAE) aimed at forging the governments of the future.

 “We will have to create a global protocol for challenges arising from artificial intelligence, cryptocurrency, and cyber-crime. We have to give priority to our national sovereignty and maintain the dignity of international law,” he said.

These were among the six suggestions made by PM Modi for governments to create a balance between national sovereignty and international interdependence, and to adhere to international rule of law while working for national interests. This will allow countries to take advantage of digital technology while saving their societies from its negative effects and working jointly against terrorism, he said.

Calling for reforms in global governance institutions, Modi suggested the world community should promote the concerns of the developing world and give the Global South a say in global decision-making. “We have to listen to the voice of the Global South and bring forward their priorities. We have to share our resources and our capabilities with needy countries,” he said.

Countries also have to promote the “values of a cohesive, cooperative and collaborative world”, he said in his speech that also focused on the achievements of his government over the past decade.

At a time when the world is coping with food, health, water, and energy security, technology has become a “key disruptor in every way, whether negative or positive”, and terrorism and climate change are bringing new challenges, he said. The international system “seems disintegrated”, and the world needs governments “that are inclusive and take everyone along”, and are also smart enough to use technology as a “medium of big change”.

Governments should also be free from corruption, serious about environmental challenges, and make ease of living, ease of justice, ease of mobility, ease of innovation, and ease of doing business their priority, Modi said.

Pointing to his years as chief minister of Gujarat and as prime minister, Modi said there “should be no absence of government and no pressure from the government”. While many experts say trust in governments has decreased across the world after the COVID-19 pandemic, he said there has been an “opposite experience” in India.

“Over the years, the trust of the people in the government of India has become stronger. People have full faith in both the intent and commitment of our government,” he said, adding this has happened because his administration gave priority to public sentiments and is sensitive to the needs of the people. “My biggest principle in government during these 23 years has been – minimum government, maximum governance.”

The Indian government’s move of connecting 50 crore people to the banking system has moved the country ahead in fintech and digital payments, and a law has been enacted to give reservations to women in Parliament. The government is now focusing on “last mile delivery and saturation” to ensure no one is left out of government schemes.

In the area of climate change too, India has its approach that includes working on solar, wind, hydropower, biofuels, and green hydrogen. “We have been looking at the approach of carbon credit for a long time. Now going beyond this, we should think about green credit,” Modi said.

PM Modi attended the summit at the invitation of the UAE vice president, Mohamed bin Rashid Al Maktoum, as the guest of honor. The event, the theme for which was “Shaping the future governments”, was attended by 10 presidents, as many prime ministers, and delegates from more than 120 countries.

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