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Union Minister Hardeep Singh Puri asserts that AI will transform the creative economy by reducing costs and expanding market reach. He emphasizes the importance of a robust regulatory framework to address challenges such as misinformation and copyright issues. Puri highlights India's potential as a global content hub, driven by contributions from Bollywood and digital platforms.
The creative economy in India has grown significantly, with a reported value of USD 30 billion and a notable increase in creative exports. Puri points out that AI is already making strides in various sectors, including newsrooms and social media, enhancing content creation. Continuous dialogue between industry stakeholders and the government is essential to navigate emerging challenges and seize new opportunities.
• AI is expected to lower costs and expand revenue streams.
• India's creative economy is projected to grow significantly with AI integration.
The article discusses AI's role in transforming the creative economy by enhancing content creation and market reach.
Puri highlights its growth in India, emphasizing the significant employment it generates.
Puri stresses the need for such a framework to address challenges posed by AI in the creative sector.
It organized the AIICE event where Puri discussed the impact of AI on the creative economy.
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