Turn AI potential into fintech impact: PM Modi

Prime Minister Narendra Modi emphasized on Tuesday the need for India's fintech industry to transform the potential of agentic AI, tokenisation, and quantum technologies into tangible impact during the inauguration of the Global Fintech Fest 2026 in Mumbai. He highlighted these cutting-edge technologies as the new frontiers in the financial sector, with the challenge now being to convert their possibilities into real-world benefits.

The theme for this year's GFF is "Potential to Impact: Agentic AI | Tokenisation | Quantum: Trusted, Connected, Global Systems for Inclusive Finance." These three technologies are expected to usher in more autonomous, programmable, and secure financial systems. Modi urged fintech companies to collaborate and establish goals as these technologies progress from experiments to real deployment.

In his address, Modi outlined four key priorities for the fintech industry. First and foremost, he called for a robust cybersecurity infrastructure, as financial services become increasingly reliant on digital platforms, data, and AI-driven systems. Additionally, he stressed the importance of developing ethical standards for data production within the fintech sector.

The third priority is fostering a strong regulator-industry innovation ecosystem, ensuring that regulations keep pace with advancements in financial technology. Lastly, Modi proposed the creation of a Fintech Consumer Protection Index, providing consumers with a transparent way to evaluate companies based on their protection standards.

Modi also noted that India's fintech ecosystem is becoming younger, more dynamic, and more willing to take risks. He observed that the enthusiasm to pursue their dreams is growing among fintech professionals. This optimism fuels his confidence in the vision of "Viksit Bharat" (Developed India), further solidifying his support for the country's digital transformation.