"ARTIFICIAL INTELLIGENCE AS A CATALYST FOR INDIA'S DIGITAL ECONOMY: POLICY IMPLICATIONS FOR SUSTAINABLE DEVELOPMENT GOALS"

Abstract

Artificial Intelligence (AI) has increasingly become a technological innovation that has revolutionized the Indian digital economy with an unimaginable prospect of the attainment of the United Nations Sustainable Development Goals (SDGs). The paper discusses the various ways that AI can support the digital transformation of India and the meaning of such actions on the sustainable development of policy frameworks. By thoroughly evaluating the existing trends related to AI use, the economic effect, and policy efforts, this paper reflects that the AI market in India is forecasted to expand at a 25-35% CAGR by 2027, with the industry estimated to add nearly 400-500 billion to the national economy by 2030. The authors use a mixed methodology; sectoral data of 500 companies were studied in seven major industries, and the possible effects of AI on all 17 SDGs were also analyzed. The results suggest that AI would facilitate the achievement of 134 targets and suppress 59 targets with discretion on policy set-ups. The paper has proposed an inclusive AI-driven growth roadmap that addresses major policy gaps in effective AI governance systems. The most important advice is the necessity of AI-SDG monitoring, the development of digital literacy, and, finally, the establishment of so-called regulatory sandboxes related to sustainable AI development. The study is part of the high-potential literature on the development of AI, with empirical evidence contributing to the effectiveness of AI as a transformational tool in emerging economies and actionable policies to provide policymakers interested in harnessing the powers of AI to sustainable development goals.