Govt data on user charge basis: Chief Economic Advisor
The data can be analysed for value addition while the Government will have a regulatory control to ensure that the privacy and security concerns are not compromised, said CEA KV Subramanian
Hyderabad: Various data points being gathered by the Government through its various schemes can be given access to the private parties on a user charge basis. The data can be analysed for value addition while the Government will have a regulatory control to ensure that the privacy and security concerns are not compromised, said KV Subramanian, CEA, Government of India.
Speaking in a virtual event on ‘Unlocking India’s Potential using AI’ as part of Intel’s all.ai 2020 event, he said the pandemic has accelerated the pace of becoming a digital economy.
Citing the possibilities, he said the Government is thinking of using drones for property records. Once these are available, it will help people to access credit, basis these records. AI can also be used to create health records for all. This will allow easy access of records and also work on predictive models.
Also, use of artificial intelligence and machine learning concepts can help in enhancing the crop choice and crop diversification for farmers. The various market data will also help with sowing related decisions, said Subramanian adding that the new technology will also improve the efficiency of the banking system and its credit penetration. The data can sniff willful defaulters by studying the associated patterns with related party transactions and disclosures. The same technology tool can also be applied for retail loans as well as large corporate loans.
The transaction histories can be used to devise new programmes and schemes for those at the bottom of the pyramid, the CEA said.
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