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Reserve Bank of India Official Recommends AI and Blockchain Adoption for Sustainable Growth and Stability

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Deputy Governor Mahesh Kumar Jain of the Reserve Bank of India (RBI) recommended that all Indian banks adopt artificial intelligence (AI) and blockchain technology to ensure sustainable growth and stability.

Jain emphasized the importance of effective corporate governance and governance structure and processes in preparing for future risks such as technological disruptions, evolving customer expectations, and cybersecurity threats.

He also suggested that Indian banks focus on digital transformation, enhancing customer experience, and investing in cybersecurity measures. Additionally, Pakistan recently announced an ambitious plan to train 1 million IT graduates on AI by 2027 for various use cases including predicting the weather and optimizing agriculture supply chains.

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