India, Sept. 16 -- Finance Minister Nirmala Sitharaman on Monday emphasised the need for regulations that foster technology innovations for the common good, particularly in artificial intelligence (AI) but not stifle them. The government is determined to not only adopt AI technologies but also ensure their responsible application across various sectors, she said while releasing the report 'AI for Viksit Bharat: The Opportunity for Accelerated Economic Growth'.

"We do not want regulation that literally wipe out technology itself. We want regulations because we want a responsible application," she said after releasing the report prepared by Niti Aayog here. Sandboxes provide a testing ground for regulatory mechanisms, enabling a balanced a...