New Delhi, 10 September: Prime Minister Narendra Modi on Sunday called for change in global institutions including the United Nations Security Council in line with the current reality in the final and third session of the G-20 summit. He also warned of challenges related to cryptocurrency and artificial intelligence (AI).
Modi said on the topic of ‘One Future’ that it is necessary to reform every global organisation to increase its relevance. With this in mind, yesterday we have taken the historic initiative of making the African union a permanent member of the G-20. Similarly, we will also have to expand the mandate of multilateral development banks. Our decisions in this direction should be quick and effective.
The Prime Minister stressed the need for change in the United Nations Security Council. He said that today’s world has changed in every respect. In such a situation, the reality should be reflected in the new global order. The law of nature is that if changes are not made, individuals and organisations lose their relevance. ?We have to consider that many regional forums have come into existence over the years and are proving effective.?
The Prime Minister emphasised on the connection of hearts beyond the connection of interests between the countries. He said that with this ?will see the global village becoming a global family?.
Modi also called for preparing a framework for a responsible human-centric AI system.
He said, “We are witnessing unimaginable scale and speed in new generation technology. In such a situation, we will have to move one step ahead of the AI related standards of G-20 made in 2019. India wants all countries to benefit from AI in areas such as socioeconomic development, global workforce and research and development”.
The Prime Minister said that a sense of future will be strengthened only by taking care of the security and sensitive issues of the countries. In such a situation, there is a need to take concrete steps as soon as possible on issues like funding of terrorism from the cyber world.
In this context, he said that “we are aware of the challenges of cyber security and crypto currency”.
He said that the field of crypto currency, social system, monetary and financial stability has emerged as a new topic for everyone. Therefore, ?we have to develop global standards to regulate crypto currency. We have the Basel standards as a model on bank regulation.?
During this, the Prime Minister drew attention to human centric vision instead of GDP centric approach.
