Page 20 - NIS English 16-31 March, 2026

COVER STORY
AI in Finance and Commerce
Advanced AI Talent and
Research Ecosystem Banking chatbots n AI is strengthening

n Under the India AI Mission, India AI provide 24/7 financial security,
Future Skills is building an AI ecosystem inclusion, and service
through fellowships and specialized skill- assistance for routine efficiency.
enhancement courses for undergraduate, services like balance n AI-powered systems
postgraduate, and PhD students. checks and fund detect fraud in real
n India AI FutureSkills is supporting transfers, reducing time and secure digital
500 PhD scholars, 5,000 postgraduate wait times. transactions.
students, and 8,000 undergraduate n AI-based credit scoring
students by December 2025. This will increases access to loans
foster innovation. for the unbanked and
n 27 India AI Data and AI Labs have been underserved.
established in Tier-2/3 cities to offer n AI-driven
courses in AI, data, and related areas personalization provides
such as data annotation, data curation, customized financial
data cleaning, and data science. products and advice.
n 543 additional India 2AI Data and AI
Labs have been approved in ITI and
polytechnic institutes across the country. AI in Governance & Public Services
This will ensure equitable distribution of
AI capabilities beyond metros. n AI is increasing the efficiency, accessibility, and
transparency of public services.
n AI-assisted translation of court judgments into local
languages improves access to justice.
n AI reduces the processing time for schemes and
applications. In the judiciary, AI also improves case
management and legal access.

AI is improving traffic,
waste management, and
public safety systems.

imagined the number of jobs it would create. The made at the right time, with the right intentions.
same applies to AI today, as it is difficult to predict
the types of jobs that will be created in the future. BUILDING A DEVELOPED INDIA WITH ‘AI
The use of AI will determine its future direction, and FOR ALL’
in this context, PM Modi stated that the future of India, inspired by the spirit of ‘AI for All’, has estab-
work in AI is not predetermined, but will depend on lished government programs to fully leverage the
collective decisions and actions. From this platform, potential of AI. PM Modi’s vision is clear that AI is not
India conveyed the message that the true impact of just for large companies; AI for India means AI for
AI will be visible only when the right decisions are all. The democratization of AI in India is laying a new

18 NEW INDIA SAMACHAR || March 16-31, 2026