India, Feb. 14 -- Electronics and IT ministry (MeitY) secretary S Krishnan believes that rapid advancements in the artificial intelligence (AI) ecosystem could be a "Y2K" moment for the Indian IT industry.

Speaking with The Hindu businessline, Krishnan said that the growth of the emerging technology offers an avenue for local software giants to deploy applications for companies globally, and not just India.

For the uninitiated, Y2K refers to the year 2000. As the world rang in the new millennia, IT companies raced ahead of time to address problems that could arise from computers (which used to notate a year by the last two digits) reading 2000 as 1900 due to the "00" notation.

This resulted in Indian IT companies showcasing their techn...