Meta Appointed as Co-Chair for USIBC’s AI Task Force

The US-India Business Council (USIBC) has just named Meta, the social media powerhouse, as the co-chair of its artificial intelligence (AI) task force. This exciting development unfolded during the task force’s first-ever virtual meeting on Friday, April 26.

Related: Meta launches AI chatbot for select users in India

The council welcomed Inderpreet Sawhney, the chief compliance officer and group general counsel at the renowned Indian IT firm Infosys, to its AI board advisory panel. But wait, there’s more! Joining the AI advisory committee are Bala Subramania, a senior executive at UPS, and Akash Shah, the chief growth officer at BNY Mellon. This diverse group is set to make some serious waves in the realm of AI.

“We’re excited to announce the addition of these outstanding individuals to our esteemed AI board advisory committee, joining forces with Meta as the co-chair of our AI task force. Their leadership and expertise are invaluable as we chart our strategic course in AI, guiding us through the diverse challenges and opportunities across sectors,” shared USIBC’s president Ambassador Atul Keshap.

The council highlighted that the inaugural meeting centered on fostering collaboration across sectors in the AI realm.

In a recent announcement, the council emphasized that the new appointments will bolster USIBC’s endeavors to foster cooperation and innovation in the swiftly evolving realm of AI, drawing upon the finest business expertise from both America and India.

Expressing his thoughts on the matter, Sawhney from Infosys remarked, “I feel honored to join the AI advisory committee… Being a part of this Committee, I look forward to exchanging insights on the techno-legal aspects of AI that Infosys has contributed to. The synergy between our collective talent and data reserves presents an exciting opportunity for collaboration between India and the U.S., holding immense potential.”

Two months have passed since the USIBC unveiled a fresh AI task force back in February, aimed at harmonizing the leadership efforts between India and the US in the exciting domain of artificial intelligence. At that time, reports surfaced detailing the task force’s objectives: driving AI concepts forward, facilitating multi-stakeholder collaboration, and nurturing the growth and commercialization of AI technology.

India and the US have long been delving into collaborations concerning cutting-edge technologies. Just last November, both nations sealed an agreement to intertwine their startup ecosystems, with a keen emphasis on critical and emerging technologies (CET).

In the realm of artificial intelligence, India is experiencing remarkable strides. Alongside well-known AI conversational agents like OpenAI’s ChatGPT and Google’s Bard, the nation is witnessing the emergence of a flourishing GenAI community. Presently, India is home to over 70 startups focused on generative AI, collectively securing more than $440 million in funding from 2019 through the third quarter of 2023.

This domain is poised for substantial expansion, projected to reach a market value of $17 billion by 2030, fueled by the exponential growth of the tech landscape in the years ahead.

The US-India Business Council (USIBC) appointed Meta as the co-chair of its AI task force, alongside exceptional leaders from Infosys, UPS, and BNY Mellon on the AI advisory committee. The inaugural meeting focused on fostering collaboration across sectors, bolstering USIBC’s efforts in the swiftly evolving AI realm. This reflects the council’s aim to harmonize India-US leadership, drive AI concepts forward, and nurture commercialization of AI technology. India’s remarkable strides in AI, with a flourishing GenAI community and substantial market expansion projected by 2030, underscore the growing India-US collaboration in this domain.