IMF Managing Director Kristalina Georgieva clarified on Tuesday that the organization holds deep admiration for India's AI progress, after a public exchange with India's IT Minister Ashwini Vaishnaw over the country's global standing in artificial intelligence.
Speaking to NDTV's Vishnu Som on the sidelines of the World Economic Forum in Davos, Georgieva said, "Let me put the record straight, we have admiration for India, for how it has developed with respect to reforms, digital public infrastructure, and its IT-skilled labor force."
The IMF chief's remarks came a day after Vaishnaw challenged her reported classification of India in a "second grouping" of AI nations. The minister had cited Stanford University rankings that place India third globally in AI preparedness, asserting that India belongs in the top tier.
"I don't know what the IMF criteria is but Stanford places India at 3rd in the world for AI preparedness. I don't think your classification is correct," Vaishnaw said in Davos.
Georgieva downplayed the exchange, describing it as a "small hiccup," and blamed the moderator for misrepresenting the IMF's stance. "The moderator was speculating. What we think is that India is one of the major forces in developing AI," she said.
She emphasized AI's global potential to boost productivity and economic growth, noting, "We assess the potential of boosting global growth as a result of AI to 0.8%."
Georgieva praised India as a "dynamic economy," adding, "With AI, it will only get better. I'm impressed with the way India approaches AI to stay competitive with others choosing different avenues."
Reaffirming her positive outlook, she concluded, "We have been saying India has been a bright spot in a cloudy global economic environment. I'm going to India, excited to be there." She is expected to attend the India-AI summit next month.
