Technology
Archived — This article has been archived. The information may be outdated.
Sitharaman seeks AI safeguards without blocking innovation
Livemint··11 Sept
Finance Minister Nirmala Sitharaman on Friday called for stronger artificial intelligence safeguards as agentic AI expands, while warning regulators not to stifle innovation. At Global Fintech Fest 2026 in Mumbai, she said risk cannot be left for society after technology moves ahead. She discussed AI regulation with the Reserve Bank of India. Responsibility must stay human and institutional, she said.
Prism
What It Means For You
- Banks and fintechs deploying agentic AI face a ministerial push for human oversight, review and circuit breakers.
- Higher-risk AI uses should get tighter scrutiny before and after deployment, she said.
- She framed wasteful operational friction as distinct from essential safeguards.
What's Happening
- Sitharaman asked who in the global AI industry will reassure the public that safeguards match system speed.
- She said AI helps detect fraud faster but also lets attackers automate more sophisticated cyber assaults.
- She told the Mumbai fintech audience that efficiency and safety should reinforce each other.
What She Asked Industry
- Agentic AI was described as moving beyond recommendations to taking direct actions in financial systems.
- She said AI may assist judgment but responsibility must remain human and institutional.
- The remarks came at Global Fintech Fest 2026.
all-news
