The two-day India Innovation Summit by the Confederation of Indian Industry (CII), to be held here on July 12-13, will focus on the disruptive technology of Artificial Intelligence (AI), the industry body said on Wednesday.
"The 14th edition of the summit will focus on the new age technologies like AI, machine learning and block chain technologies that will transform our future," India Innovation Summit's Chairman and co-founder of global software major Infosys Kris Gopalakrishnan told reporters here.
The summit will witness the participation of over 600 attendees, including the industry leaders, entrepreneurs and government representatives, who will deliberate on various aspects of adoption of AI.
The two-day event, with a theme "India.AI - Driving the Future for the World", will address the aspects of impact of AI on farming, healthcare, automobiles and job creation, among others.
It will allow the startups and industry to showcase their expertise and also interact with the policymakers on framing laws with regard to the technology.
"As a country we should take small steps towards the adoption of autonomous vehicles and new modes of medical diagnostics, making use of AI, that could significantly bring down the costs. There are risks involved, but there are also benefits in the use of AI," Gopalakrishnan added.
While admitting that some of the traditional jobs could be lost as a result of the adoption of AI, Gopalakrishnan, who also founded the Bengaluru-based startup accelerator Axilor Ventures, believes that the technology can also create many jobs.
"There is a need for re-skilling ourselves in order to take up the jobs that will be upgraded due to AI," he said.
The convention has been one of the reasons for Bengaluru's growth in the country in the field of research and development, Gopalakrishnan added.
Union Minister for Commerce and Industry Suresh Prabhu, Niti Aayog Chief Executive Amitabh Kant, Karnataka Chief Minster H.D. Kumaraswamy and state Information Technology and Biotechnology (IT and BT) Minister K.J. George will also be present at the summit, the industry body said.
The Young Innovators Challenge Award, an initiative by the CII and 3M India, will be presented during the summit to innovators working on social, economic and sustainability challenges in the country.