New Delhi, April 15 (IANS) India is rapidly emerging as a global force in the field of artificial intelligence (AI), and the credit goes to the focused efforts of Prime Minister Narendra Modi, said Sameer Nagpal, President and CEO of JK Tech, on Tuesday.

Speaking to IANS on the sidelines of an event in the national capital, Nagpal highlighted how the government's initiatives have created an encouraging environment for innovation, research, and technology-driven growth in the field of AI.

“India is moving swiftly in the AI space under PM Modi’s leadership. The government is not only supporting AI development but is also focusing on its implementation across various sectors such as healthcare, governance and digital infrastructure,” Nagpal mentioned.

According to him, this momentum will lead to significant innovations in the near future. He explained that in today’s digital age, data is the new oil.

“If companies can ensure they are working with quality data, they will be able to generate better insights and make more informed decisions,” he noted.

“Right insights come from right data,” he told IANS, adding that the government’s push for AI will enable both large and small companies to grow by using cutting-edge technologies.

Nagpal further stated that India is already a major player in the global IT industry. With the launch of a national-level large language model (LLM) backed by the government, India is poised to make a mark in global AI development as well.

“This will help India take a leadership position in the AI revolution,” he emphasised.

Echoing similar sentiments, JK Tech’s Founder and Director, Abhishek Singhania, told IANS that Indian engineers -- both in India and abroad -- are doing remarkable work in the field of AI.

He appreciated PM Modi government’s decision to allocate Rs 10,000 crore for AI research and development, calling it a major step in building India’s AI ecosystem.

Meanwhile, JK Tech announced on Tuesday that it has partnered Inveniam, a data integrity platform for private market assets, to revolutionise the alternative investment landscape.

“The collaboration will focus on transforming the global private markets through the development of Inveniam’s next-generation platform for Alternative investments leveraging blockchain and AI,” the company said.