India's digitalization with ChatGPT, views of Siddharth Mehta

Siddharth Mehta IL&FS's former director and CIO of Bay Capital is a well-known investor, financial advisor, and philanthropist. He is the founder of Bay Capital, a company which has invested in the long-term structural growth of India. 

 

According to the reports, Siddharth Mehta Bay Capital CIO while speaking to a renowned media house seemed expressing his views on India’s digitalization with ChatGPT. We all know the impact of this Open AI from the time it has launched. With just being 6 months old this technology is stopping nowhere around, as it is continuously improving. Although it’s a machine but behaves like a human and delivers human-oriented results. Ask anything to it and the answers or outcome is enough to surprise you. You will feel like you are having a communication with a human. 

 

Siddharth Mehta IL&FS's former director and CIO of Bay Capital whose company Bay Capital has invested in India’s economy often talks about the digitalization in India. According to him, India will be fully a digital and advanced economy by 2030. 

 

When asked about ChatGPT and its impact on India’s economy, his response was quite optimistic and promising. According to him, the new advanced technology known as ChatGPT or Open AI will certainly boost India’s digital economy. He seems relating fintech with this AI. He believes that this AI technology is much ahead of its time and can benefit the growing fintech companies in their expansion, reaching more audiences and making the business more profitable. 

 

He even seemed to praise Paytm’s decision or views in bringing this technology into it. He further added that ChatGPT or Open AI will boost the technology of fintech companies and will build a strong customer bond or relation with the help of the ChatGPT strong, advanced, and personalised chatbot. He also mentioned the latest update of ChatGPT having access to the internet and the availability of third-party plugins, which will provide accurate information of the recent time.

 

Siddharth Mehta IL&FS's former director and CIO of Bay Capital believes that India’s digital economy will be more developed and efficient with the ChatGPT’s proper harnessing. He further added that “technology always makes people smart as they are growing every day with the digital technology, but total dependency on the technology is not a positive sign for any economy, so a proper harnessing of the technology is important for the human welfare purpose.”

 

Siddharth Mehta IL&FS's former director believes that usage of this advanced ChatGPT or Open AI with fintech will certainly contribute to the creation of an efficient digital society in India, making the population more digital.

 

In conclusion, we can say that the proper utilisation of ChatGPT will surely have a positive impact on India’s digital economy. If this technology is used in fintech then the fintech industry will be highly benefitted from it with regards to reaching more customers with personalized services and advanced chatbot assisting customers. 

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