Showing posts from April, 2021

A European Approach to Regulate Artificial Intelligence: Possible Global Impact

  Krishna Ravi Srinivas, PhD, Consultant & Senior Fellow, RIS On 21 st April European Commission (EC) unveiled an ambitious and broad proposal on regulating Artificial intelligence (AI) in Europe. It is primarily aimed at regulating AI and its applications in European Union. However, given the role of EC as a regulator and promotor of innovation and EU being a major market for AI besides home to institutions and companies that are doing pioneering work at AI , it has global implications. The proposal (‘Regulation of The European Parliament and of The Council Laying Down Harmonised Rules on Artificial Intelligence (Artificial Intelligence Act) And Amending Certain Union Legislative Acts) and Proposal for a Regulation of the European Parliament and of the Council on machinery products, will now undergo a lengthy review process at the European Parliament and at the European Council, that represents the 27 national governments. The final approved version may be different from what E

Debt Crisis in Emerging Markets and Global Response Measures

  Ms. Aditi Gupta  Research Assistant, RIS Introduction A recent Dev Talk by OECD on “Debt sustainability and COVID-19: what’s next for Africa and Latin America" threw light on the issue of debt sustainability in emerging markets. By the end of the first quarter of 2020, the foreign-currency debt of emerging market economies amounted to more than USD 8.4 trillion [1] . COVID-19 crisis further exacerbated the debt crisis in developing economies. The situation has worsened as local currencies have become weak, government revenues and foreign exchange reserves have fallen along with tightening of credit markets. Countries like Venezuela, Argentina, and Lebanon have already defaulted on their debts. Average public debt ratios were expected to rise up to 70% of African countries’ GDPs by 2020 and up to 75% of Latin American countries’ GDPs by 2021. Under the COVID-19 crisis, various national governments assisted vulnerable households with unemployment benefits and subsidies and pro