It is estimated that by 2030, AI could contribute USD 15.7 trillion to the global economy. In India and other developing Asian countries, Africa, and Oceania, AI is expected to add as much as USD 1.2 trillion to the GDP of these nations.

AI is being adopted in India at a rapid pace, with 81 per cent of Indian organisations already having implemented Generative AI (GenAI). In a recent lecture at Stanford, Erik Schmidt, a technology industry titan, stated that over the next year, GenAI – powered by LLM Agents – is going to have an impact on the world that nobody understands yet. For instance, LLM Agents will be able to read everything about a particular subject, discover its underlying principles, test them, and absorb the outcomes into the LLM’s understanding.

For firms, this unprecedented ability to absorb new information and test it presents an opportunity unlike any before. But this is just one facet of AI that’s poised to turbocharge business and innovation across the world soon. The vast potential of AI means that the technology has equally vast potential for misuse. It is for this reason that governments across the world are introducing regulation to curb the potential misuse of AI and streamline its adoption.

In the next few months, the Ministry of Electronics and Information Technology (MeitY) in India will release the first draft of a national AI regulation framework policy for India. The ramifications will be wide-ranging and affect various industries. New mandates may require tech companies to invest in data protection and ethical standards, resulting in an increase in compliance costs, thereby impacting operations, competitiveness, and growth plans, and in fact may even slow down innovation.

So how can tech companies prepare to be more compliant for the new AI regulations in the country without forsaking their growth plans?

Tech companies looking to ensure compliance with new regulations will need to seek support from an expert partner who can help them navigate this journey. These partners should be able to provide a platform to manage AI innovations across multiple clouds and at the edge, along with compliance mechanisms in place, efficiently and quickly, so that go-to-market plans are not delayed.

For firms in India and across the world aspects of data control, privacy, and security are also key. In a report that gathered insights from 3,200 IT decision makers and influencers in the US, Europe, and Asia, including 300 from India, 99 per cent of respondents expressed concerns about processing and using their data. The respondents’ concerns highlight the need for firms to work with GenAI providers who can safeguard their information.

Indian firms that want to use GenAI while keeping their data completely secure can also turn to using boxed-AI solutions. Buying boxed-AI solutions offers Indian firms the most effective way to use GenAI while remaining within government regulations because boxed solutions help firms maintain complete control over their data.Boxed-AI solutions are pre-engineered, pre-architected, and pre-provisioned, making them easy to deploy. These solutions can be baked-in with an architecture that’s pre-aligned with regulations, removing ambiguity about data security and privacy and making these solutions easy to deploy and use according to predefined regulations.

It’s still early days for the widespread use and adoption of GenAI, but one thing is for sure – rather than struggle with figuring out how to use AI, particularly in the face of issues related to governance and data security, businesses need to keep abreast of regulation and jump start their AI journey, while retaining complete control over their data.

The author is Faiz Shakir, VP & MD – Sales, Southern Asia at Nutanix.

Disclaimer: The views expressed are solely of the author and ETCISO does not necessarily subscribe to it. ETCISO shall not be responsible for any damage caused to any person/organization directly or indirectly.