At the India Today AI Summit, industry experts M.R. Rangaswamy, Jonathan Cohen, and Anish Chopra debated the return on investment (ROI) for the hundreds of billions being poured into artificial intelligence. M.R. Rangaswamy questioned the sustainability of a trillion-dollar investment in data centers when current revenues remain relatively low, suggesting a potential bubble. Jonathan Cohen, however, argued that we are entering a ‘golden age of productivity,’ noting that AI is shifting from passing tests to performing ‘digital knowledge work’ valued at $30 trillion globally. Former US CTO Anish Chopra highlighted India’s unique position to ‘leapfrog’ traditional development cycles, much like it did with digital public infrastructure. The panel emphasized that while private capital bears the risk, the societal ROI in healthcare and education could be transformative. Cohen specifically urged India to develop ‘sovereign AI’ to protect its data moat and national security, while the panel concluded that Indian ‘frugal engineering’ or ‘Jugaad’ could significantly lower the cost of AI deployment compared to global standards.
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