India could lose ground in global content economy without faster AI adoption: Sanjay Jaju

Economic Times
Economic Times
3d ago 5 views
India risks falling behind in the global content economy without faster AI adoption, according to Sanjay Jaju. The media sector faces significant changes as AI transforms content creation.
India could lose ground in global content economy without faster AI adoption: Sanjay Jaju
A What happened
At the CII Big Picture Summit, Sanjay Jaju, the Information and Broadcasting Secretary, warned that India could lose its competitive edge in the global content economy without quicker adoption of artificial intelligence (AI). He noted that the media and entertainment sector is experiencing a seismic shift, with AI rapidly generating content such as songs and videos. Jaju pointed out that India's share of the global media industry is only 2%, and without embracing AI, the country risks falling further behind. He called for government support to create a level playing field and address market failures. Gaurav Banerjee, CEO of Sony Pictures Networks India, echoed this sentiment, stating that the global media and entertainment industry is projected to reach $3.5 trillion by 2030, and India has the potential to build a $100 billion industry. Investment in talent and creative institutions is crucial for competing on a global scale.

Key insights

  • 1

    AI's Impact on Media

    AI is transforming content creation in the media and entertainment sector.

  • 2

    Global Market Potential

    India's media industry could grow significantly with AI adoption.

  • 3

    Investment in Talent

    Building specialized institutions is essential for nurturing creative talent.

Takeaways

To avoid losing ground in the global content economy, India must accelerate its adoption of AI and invest in talent development within the media sector.

Topics

Culture Media Technology AI & ML Business Economy