Finance Minister Nirmala Sitharaman expressed concern over the increasing misuse of AI at the Global Fintech Fest. He said that I have received deepfake videos of myself many times. These were created to mislead people.
Global Fintech Fest: Union Finance Minister Nirmala Sitharaman expressed concern over the increasing misuse of AI (Artificial Intelligence). He revealed that he has found several deepfake videos of him being circulated online to mislead the common people.
Speaking at the Global Fintech Fest held in Mumbai, the Finance Minister said, “I am not making it personal, but I can say that I have seen many of my deepfake videos circulating online. These have been manipulated to mislead citizens.”
The Finance Minister called for collaboration between fintech innovators, investors and regulators to build a secure, inclusive and resilient technology system. Nirmala Sitharaman said, “Every part of the ecosystem – regulators, fintechs, startups and citizens must work with common purpose and mutual trust.”
He said, “There is no doubt that AI is changing finance, governance and everyday life. While harnessing its powers, we have to be conscious that the technology always serves humanity. AI opens the door to extraordinary possibilities, but we also have to face its dark side.”
Narendra Modi and Keir Starmer will address the Global Fintech Fest
Prime Minister Narendra Modi and British PM Keir Starmer will address the Global Fintech Fest on Thursday. It is being called the world’s largest financial technology program. It is jointly organized by PCI (Payments Council of India), NPCI (National Payments Corporation of India) and FCC (Fintech Convergence Council).
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On the first day of the three-day programme, Sitharaman launched the Foreign Exchange Settlement System at GIFT City in Gujarat. The initiative aims to promote international trade, attract investment and improve the ease of doing business by enabling real-time settlement of foreign exchange transactions.
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