Regulatory body for AI

This refers to ‘TRAI’s call for AI regulatory body is flawed’ (July 26). AI is an evolving field and as such before going into the details of possible impact it would have on the industry, calling for a AI regulatory body needs to be construed as ‘too hasty’. TRAI had already released a recommendation note, ‘Leveraging Artificial Intelligence and Big data in Telecommunication Sector’ on July 20, which lays emphasis on leveraging AI and Big Data in a synchronised and effective manner to enhance overall quality of service, spectrum management, network security and reliability.

TRAI’s press release has also called for the formation of an independent statutory authority to ensure development of responsible AI. As such when the potential usage of AI is not only restricted to telecom sector but all pervasive including in sectors like education, healthcare, finance, transportation, etc., it would be premature to recommend formation of an AI regulatory body before its positive impact in areas like data mining, network optimisation, customer analytics, and fraud detection are analysed.

Srinivasan Velamur

Chennai

Growth forecast

It’s interesting to note that the International Monetary Fund has raised India’s economic growth forecast by 20 basis points to 6.1 per cent for the fiscal year, even as the picture of the global economy is not rosy. One feels, it’s India’s huge population that makes the difference. Consumption demand is picking up in all sectors after the pandemic, and the producers have also stepped up with considerable investment resulting in an increase in production of goods and services. The government has been doing a commendable job on the economic front in terms of encouraging private businesses in particular.

S Ramakrishnasayee

Chennai

Competing for loans

This refers to ‘Big banks locked in ‘war’ for large corporate loans (July 26). While healthy competition for business is good for clients in terms of lower cost and better terms of credit, it can also leads to upgradation of appraisal and servicing skills on the part of the banks. But placing too much emphasis on credit rating of corporates by outside entities is not advisable and banks should have their own internal appraisal wings staffed with trained people.

Credit rating by external agencies is not necessarily the last word on the creditworthiness of a borrower. Banks are better placed to take a view on this, in the light of their handling of the credit portfolios of other large corporates.

Instead of routinely turning to credit raters, it would make better sense for banks to commission outside independent experts to get their views too to supplement their appraisals.

MP Muralidharan

Bengaluru

Farmers under stress

Apropos ‘Farmers are seriously stressed out’ (July 26), although true, very little attention is being paid to find a remedy. Raising farmers’ income alone is not the panacea, but providing basic necessities like healthcare, children’s education, logistic, access to entertainment and timely support in core agrarian activities matters a lot.

State governments must involve agri universities and its rural arms (like KVKs) and healthcare research institutes to be in constant touch with peasants and their families to ascertain their needs, other than agrarian, so as to give them psychological confidence that they are not isolated.

Rajiv Magal

Halekere Village, Karnataka

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