‘You could become Chatur of 3 Idiots’: Piyush Goyal urges people to embra ...
Union Commerce and Industry Minister Piyush Goyal on Sunday said that banking organisations should tap into artificial intelligence to their advantage instead of using it as merely a replacement for Google search.Speaking at the FE Best Banks Awards 2026, he asked the audience, “Have you ensured that everybody in your organisation knows what AI is or are they just using it as a replacement for Google ?” Goyal stressed that the organisations must now realise that “AI is an opportunity” and not a threat for them.
On a lighter note, however, he warned that trusting artificial intelligence blindly can be dangerous. “You could become Chatur of 3 Idiots, if you trust AI blindly,” Goyal said.
While talking about the benefits of artificial intelligence, the minister stressed the importance of reaping strategic benefits of AI across industry verticals, sectors and company hierarchies to get work done in a more efficient manner.
He also acknowledged that while Indians form the second-largest user base of Open AI’s ChatGPT, he urged citizens to use AI as a job creation, optimisation and efficiency tool that can contribute positively to India’s growth story.
The commerce minister further said that India should not worry about AI taking away jobs. “The hype of AI will keep going for some time but ultimately, AI will create jobs in India,” he added. Goyal drew the comparison of AI hype with the Y2K moment. “Nothing happened at the change of the millennia. In fact, our IT industry never looked back since,” he further said.
“At the end of the day, this is my CA brain telling me that the human mind will be supreme,” Goyal added.
The comments come amid a global race to dominate artificial intelligence and advanced computing. The governments and businesses are pouring billions into AI infrastructure, semiconductor ecosystems and automation technologies across the US, China and Europe.
In his address Goyal stressed that while Indians form the 2nd largest user base of Open AI’s ChatGPT, they need to figure out a better way to use the AI tool than just a replacement of Google. He urged Indian citizens to use AI as a job creation, optimisation and efficiency tool that can contribute positively to India’s growth story.
FE Best Bank Awards 2026
Goyal made his most recent remarks during a fireside chat with Financial Express’s Shyamal Majumdar at the FE Best Banks Awards 2026, one of the country’s leading recognitions for excellence in the financial sector. Held earlier today (June 7) in the financial capital of the country, the event brought together senior bankers, financial sector executives, fintech leaders and policymakers.
The awards recognise outstanding performance by banks, non-banking financial companies, small finance banks and fintech firms across different domains underscoring good developments in Indian banking.
Winners are selected by an independent jury with support from EY India through an assessment of financial and operational performance based on Reserve Bank of India data spanning three years.
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