AI Described as Double‑Edged Sword at FinTech Forum

During the conference, Minister Sitharaman referred to artificial intelligence as a "double‑edged sword." She explained that while AI can be instrumental in detecting fraud and enhancing operational efficiency, the same technology can be exploited for malicious activities.

The minister urged developers and regulators to embed robust security safeguards and continuous monitoring into AI‑driven solutions. She emphasized that without vigilant oversight, the benefits of AI could be undermined by emerging threats.

This balanced perspective underscores the need for a proactive regulatory framework that encourages innovation while protecting the financial ecosystem.