'Blue economy' and AI prominent sectors, cannot be ingored: CAG

Comptroller and Auditor General of India Girish Chandra Murmu on Monday said 'prominent sectors' like 'blue economy' and artificial intelligence can no longer be ignored, as he urged delegates of the Supreme Audit Institutions-20 to come up with an auditing framework for these categories.

Murmu was speaking at the inaugural session of the SAI20 Engagement Group meeting, which is being hosted by the CAG as part of the country's G20 presidency.

"It will be imperative for leading SAIs to start working on an auditing framework and checklists so that auditors not only have broad guidelines, but also specific toolkits to audit these two sectors in a meaningful way," Murmu said.

Both 'blue economy' and artificial intelligence are emerging areas and "we as Supreme Audit Institutions cannot afford to ignore these prominent sectors", he said.

Recognising the importance of sustainability, growth and role of emerging technologies, the SAI20 has identified 'blue economy' and 'responsible artificial intelligence' as the two themes to discuss at this forum, the CAG said.

Also Read: India's strong macroeconomic trends improve credit quality of finance companies: S&P Global

'Blue economy' is the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of the ecosystem
Responsible AI is a governance framework aimed at what data can be collected and used, how AI models should be evaluated, and how to best deploy and monitor models, it said.

The framework can also define who is accountable for any negative outcomes of AI.

"These two priority areas represent the new-age opportunities and concerns, underline the need for genuine cooperation," Murmu said.

He noted that SAI20, with its collaborative commitment to an accountable, economic, efficient and effective governance, and a strategic partnership with the governments, has a crucial role to play.

The SAIs have the mandate to provide independent and objective examination of public services and serve as the much-needed feedback mechanism for policymakers in identifying the areas for improvements and opportunities, Murmu said.

The Centre has come out with a National Strategy for AI, which includes policy and programmes, global partnership, upskilling, capacity building, safe and ethical framework.

"SAI's, too, must imbibe a data culture while simultaneously building data capability," Murmu added.

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.