Addressing the closing session of the Group of Twenty (G-20) Summit, Indian Prime Minister Narendra Modi urged to go a step further and referred to the use of AI as the world is witnessing unimaginable scale and speed in next-generation technology.

The Indian prime minister recalled that the G-20 adopted the Principles on Artificial Intelligence in 2019, but he asserted that more progress is needed.

Modi noted the challenges related to cybersecurity and cryptocurrencies and their impact on social order and monetary and financial stability.

The Indian head of Government called to take concrete steps as soon as possible to enable global standards to regulate cryptocurrencies, and underlined the Basel banking standards as a model.

Cooperation and a global framework for cybersecurity are also needed to curb the financing of terrorism through cybersecurity.

The prime minister stated that the essential item for a better future is to adapt the global systems to the current realities, and mentioned the United Nations Security Council as an example.

When the United Nations was founded with 51 member States, the world was very different from today. Nearly 200 nations are now UN members, Modi said.

Despite this, the permanent membership of the Security Council has remained unchanged, he stressed.

Modi noted that from then to now, the world has changed a lot in every aspect, such as transportation, communications, health care, and education; all sectors have changed.

The new realities should be reflected in the current global structure, the Indian prime minister pointed out.

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