ICAI Urged to Develop AI Assurance Standards by Minister

New Delhi, Jun 26 (PTI) Union minister Gajendra Singh Shekhawat on Friday suggested that the chartered accountants' body, ICAI, come out with assurance standards on artificial intelligence as part of efforts to ensure the responsible use of technology and curb potential biases in algorithms.

Addressing the ICAI's AI Innovation Summit in the national capital, Shekhawat emphasised the need for continuous upskilling and keeping pace with technological evolution for chartered accountants and for those in other professions.

Artificial Intelligence (AI) provides an opportunity for the country to lead with innovation, integrity and trust, he said.


The Institute of Chartered Accountants (ICAI), which has more than five lakh members, is providing AI programmes to upskill its members.

Shekhawat, who is the Tourism and Culture Minister, said the institute can consider developing assurance standards for AI, while also noting the challenges posed by algorithmic biases.

Chartered accountants are not just financial professionals but also the protectors of investor confidence, the minister said.

While stressing the importance of responsible behaviour and trust, Shekhawat said India is advocating for theresponsible use of AI.