India (Commonwealth Union)_ In an era of rapid technological advancement, India and Australia have joined hands to fortify their bilateral ties. Their shared goal is to shape a robust governance framework for emerging and disruptive technologies. At a recent technology event organized by CUTS International and IIIT Bangalore, Sarah Storey, Deputy High Commissioner for the Australian High Commission to India, emphasized the importance of international cooperation to ensure the safe and responsible usage of these technologies.
The event saw Indian policymakers committing to the pursuit of global regulatory standards, underlining the need for like-minded nations to collaborate in addressing the challenges posed by critical technologies like 6G, artificial intelligence, blockchain, and Big Data. Storey pointed out that establishing uniform standards in these areas is crucial for the development of a responsible and sustainable technological landscape.
This commitment was further solidified through the signing of a Memorandum of Understanding (MoU) between India and Australia on September 3. The MoU outlines a collaborative effort in setting technical standards, managing spectrum, and formulating telecom policies, which will be instrumental in laying the groundwork for the development of 6G.
Ethical considerations also took center stage at the event. Ujjwal Kumar, Deputy Head of CUTS International, unveiled a proposed ethical framework that encompasses principles such as privacy, data protection, healthy competition, inclusivity, and environmental sustainability. This framework aims to guide the ethical development and deployment of emerging technologies, ensuring they benefit society at large.
Speakers at the event cautioned against excessive micro-regulation of 6G and other emerging technologies, highlighting the potential to stifle innovation in the field. Striking a balance between regulation and innovation is crucial to foster an environment where technological advancements can flourish while safeguarding public interests.
Divergent approaches were observed in both nations’ stance on artificial intelligence and blockchain technology. Australia advocates for a cautious approach, advocating for a blanket ban on high-risk AI tools and seeking public input through consultations. Conversely, India’s Reserve Bank has embraced AI, proposing the introduction of AI-powered conversational instant payments. In the realm of blockchain, Indian regulators view the technology with skepticism, particularly in the financial sector. Australia, however, has taken a more proactive step by launching a stablecoin to enhance cross-border transactions for its citizens.
Despite these disparities, both nations share a common resolve to combat digital currency scams through public awareness campaigns and heightened enforcement measures. This concerted effort aims to protect citizens from fraudulent activities in the digital currency space.
Recognizing the global nature of emerging technologies, India has placed the development of uniform regulatory standards for digital currencies at the forefront of its G20 presidency. Over the past ten months, significant progress has been made in crafting international rules through extensive deliberations with central banks and finance ministries of member nations. Finance Minister Nirmala Sitharaman highlighted the importance of collective action, emphasizing that one nation alone cannot effectively regulate this rapidly evolving landscape.
On the international stage, the U.K. is advocating for a collaborative approach among democratic nations through a global AI summit scheduled for November. In contrast, China, the European Union, and the U.S. have taken the lead in crafting local legislation for their respective AI ecosystems, demonstrating varying degrees of emphasis on global collaboration.
In an ever-connected world, the collaborative efforts of nations like India and Australia are instrumental in shaping a responsible and forward-looking governance framework for emerging technologies. By fostering international cooperation and adhering to shared ethical principles, these nations are paving the way for a future where technology serves as a force for positive change on a global scale.
