Narayana Murthy bats for AI, calls technology great leveller

IT industry veteran and Infosys founder NR Narayana Murthy on Sunday emphasised the need for using advanced technologies, including Artificial intelligence (AI), in India, stating that technology is a "great leveller".

Technology can help reduce the gap between the well-to-do and the not-so-well people, Murthy said while speaking at the centenary celebration of the Indian Chamber of Commerce in Kolkata.

"Technology is about reducing cost. It's about increasing revenues and profitability. So technology has a lot of value. It also does something that most people don't realise. Technology is a great leveller. So we need technology in India if we want to reduce the gap between the well-to-do and the not-so-well. That's what financial inclusion has done," he said.

"My personal view is there are areas where we cannot do without AI," Murthy said.

He said AI can be used in areas like automatic cars, precision operations, disease detection and hazardous operations in which human beings may be exposed to high risk.

Murthy stressed the need for hard work and performance to earn respect for oneself and for the country.

"I urge the youngsters to understand that we have a great responsibility to fulfil the pledge of our founding fathers (of the nation). We have greater responsibility as enunciated by scriptures. We have to show fairness and justice to create opportunities for the less fortunate one. That is why we have to work hard," he said.

Murthy also asked entrepreneurs to embrace "compassionate capitalism" which is practising capitalism while combining it with the best aspect of liberalism and the best aspect of socialism.