Zerodha is unapologetic about its decision not to use any of the AI/ML technologies touted among companies. “Nearly every instance of ‘AI-first thinking’ I’ve seen in the industry has been a strong example of misplaced assumptions, blatant delusion, and often intellectual dishonesty,” said Zerodha’s CTO. Kailash Nadh said.
But that doesn’t seem to be the case anymore. Zeroda CEO Nisin Kamas said on social media that recent breakthroughs in AI have led him to believe that AI could take jobs and disrupt society. In this regard, the company has created an internal AI policy “for clarity”. [their] The team thinks so, given the fear of AI/job loss. ”
Zerodha uses minimal AI/ML when it comes to leveraging machine learning or artificial intelligence tools. “Except for some basic image/document recognition ML models for document processing, we use little to no AI or ML,” Nad said. target.
Groww, on the other hand, uses AI/ML for image processing, automating manual workflows, reducing errors, and increasing user friendliness throughout the work. Additionally, its tech stack includes React Native, Springboot, SpringCloud, as well as a microservices-based architecture that allows for extensibility.
Despite announcing an AI policy, it is unclear whether Zerodha itself will consider incorporating generative AI into its operations. Either way, what Kamas feels is going to happen is that many companies will likely lay off workers and blame AI. Corporations make more profits, shareholders get richer, and wealth inequality worsens.
“We would like governments around the world to put some sort of guardrail in place, but given the rhetoric of deglobalization, that may be unlikely,” Kamas said. No country wants to sit idle while it gets stronger.”
“Humans are unlikely to be able to compete with intelligent machines in many areas,” Kamas concluded.
But recently, the Ministry of Electronics and IT (MeitY) said in a written response to parliament that “the government is not considering enacting laws or regulating the growth of artificial intelligence in the country.” So clearly India has not even considered the impact of new AI systems.
