Indian Govt. Should Also Monetize Digital Assets : ‘AI’ Thought Leader Sumant
Consequent to Govt. of India’s drive to monetize public assets in the yesterday’s presented union budget by Finance Minister Mrs. Nirmala Sitharaman, Chief Analyst of ‘5 Jewels Research’, Sumant Parimal, a Globally recognized ‘A.I.’ (Artificial Intelligence) Thought Leader has said that Govt. of India should also Monetize its huge Digital Assets and IPs (Intellectual Properties) spread across the country in various Govt. departments and PSUs (Public Sector Undertakings) in addition to infrastructure assets like Gas Pipe Lines, Airports, Power Transmission Lines, Freight Corridors, Highways, Warehouses.
Commenting on Union Budget Presented on 1st Feb. 2021 in Indian Parliament Parimal said, “Monetization of Govt. owned physical infrastructure assets through National Monetization Pipeline as proposed in Union Budget 2021 is a welcomed move to unlock higher revenue earning potentials of the public assets like Gas Pipe Lines, Airports, Power Transmission Lines, Freight Corridors, Highways, Warehouses.
In similar lines, Govt. should also consider to monetize its Digital Assets and IPs spread across the country in various Govt. departments and PSUs. There is huge business value locked inside the digital assets of Govt. in form of Apps., Data, Information, Content, Context, Insights and Knowledge, which carries huge value for new technology-oriented businesses and services”. “Many A.I. (Artificial Intelligence) and Data Analytics businesses are in need of huge digital assets like Data, Content to deliver its offerings to the market, and now many of them filling this data availability gap by synthetically generating data, which is not real data. Hence there exists a new market for real time and historical data owned by large entities like Govt. departments and PSUs, which should be monetize for generating extra revenue for Govt.” Parimal adds further.
“Decade old e-Governance Programs, Govt. Data Center Programs, Govt. operated Data Communication networks, Govt. owned CCTV networks, Govt. owned remote sensing data, Govt. owned Airport Data, Govt. owned Railways Data, Govt. owned Universities Data, etc. having huge potential for monetization for creating additional revenue to Govt. departments and also for providing nourishing ground for A.I. and Big Data Analytics oriented industry in India. With data as new oil, it can be safely said that revenue generating potential of Digital Assets and IPs of Govt. of India is going to be of similar or of higher value as of physical assets which have been identified for monetization in this year budget,” Sumant said.
He further said “Technologies like Blockchain based assets tokenization should be used for physical assets as well as for digital and intellectual assets monetization”