Ola founder and CEO Bhavish Aggarwal has coined a new term, "Techno-Colonialisation," to describe a modern phenomenon in which India's data is exported abroad, repurposed, and sold back to India.
In an interview with ANI, Aggarwal drew a parallel of this operation to the historical exploitation of Indian resources by the British East India Company. He said that 20 per cent of data in the world is produced by India, but the benefits of this data are mostly taken by foreign tech giants.
"When I see the future of AI, we have a uniquely Indian idea called digital public infrastructure. UPI is an example of that. ONDC is an example of that," he added.
Aggarwal, also the founder of OlaKrutrim, India's first AI unicorn start-up, said that data is core in the world of AI and should be owned by data creators themselves. He further said that he strongly believes attributing original content or data creators is essential.
"We in India can create this paradigm, but we can only do it if all of the society comes together. Companies like Krutrim need to exist for that. We need to evangelise this philosophy to stakeholders like the media, bureaucrats, etc. India will have to invest as a business ecosystem," Aggarwal added.
Image Courtesy: X account
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