Creativity Set to Become India’s Next Growth Driver
Shantanu Narayen, the CEO of Adobe, boldly stated on May 1 that India’s next economic boom will be driven by creativity rather than software, marking a significant shift from the nation’s longstanding emphasis on the IT services sector. Speaking at the inaugural World Audio Visual and Entertainment Summit (WAVES) in Mumbai, Narayen emphasized the transformative potential of the creative industry, particularly when combined with artificial intelligence (AI). He noted that AI has the potential to revolutionize creativity, leading to significant economic growth and employment opportunities in India, surpassing even the manufacturing sector in scale.
India’s future economic boom will be rooted in creativity, not software.
The rise of AI in creative industries could lead to greater employment than the manufacturing sector.
Narayen made these comments during the inaugural WAVES summit in Mumbai.
AI-Powered Creativity Could Create More Jobs Than Manufacturing
Adobe’s CEO highlighted the expanding role of AI in creative fields, underscoring how it can empower creators and drive the employment potential of India’s creative industry. He referenced Adobe’s four-decade-long legacy in shaping media, from designing magazines to producing videos, emphasizing the company’s role in fostering creativity with the help of AI. Narayen suggested that AI-enhanced creativity could provide even greater opportunities for employment and innovation than traditional manufacturing, especially in a country like India, where the digital ecosystem is rapidly evolving.
AI will play a crucial role in enhancing creativity and fostering job creation in India’s creative sector.
Adobe’s 40 years of experience in empowering creators globally is set to accelerate with AI.
Narayen projects that India’s creative industry could surpass manufacturing in terms of employment generation.
Adobe’s Commitment to Supporting India’s Creative Growth
As part of Adobe’s ongoing efforts to support India’s creative economy, Narayen expressed the company’s intention to back Prime Minister Narendra Modi’s vision of making India the global creativity capital. Adobe, in partnership with the Indian government, will make significant investments in skilling programs, focusing on reaching two crore students and five lakh teachers. The company is collaborating with institutions like the Indian Institute of Creative Technology, Pratham, Tata Consultancy Services (TCS), and Jio to train and empower the next generation of creators.
Adobe’s investments will focus on skilling initiatives, targeting two crore students and five lakh teachers.
The company is partnering with prominent institutions like TCS, Jio, and Pratham to facilitate these initiatives.
Adobe is committed to supporting PM Modi’s goal of making India the world’s creativity capital.
Collaborative Efforts to Safeguard Intellectual Property in the Age of AI
Narayen also addressed the need to protect intellectual property as the AI revolution transforms creative industries. In collaboration with India’s Information and Broadcasting Ministry, Adobe is working on developing content credentials that will ensure transparency and safeguard the originality of digital content in the emerging era of Generative AI. This framework is part of the government’s broader initiative to safeguard AI rights and establish a fair ecosystem for creators in India.
Adobe is working on a content credentials system to safeguard intellectual property rights.
The AI rights framework aims to provide transparency and originality in the new AI-driven creative landscape.
Development of the Indian Institute of Creative Technology (IICT)
Further strengthening its commitment to India’s creative economy, Narayen joined Ashwini Vaishnaw, India’s Minister of Information and Broadcasting, in announcing the development of the Indian Institute of Creative Technology (IICT). Modeled on the IITs and IIMs, this institution will focus on developing talent for the media and entertainment sector, equipping young creators with the skills necessary for the future. The Indian government has allocated ₹400 crore for the institute, with Maharashtra’s state government providing the necessary land for its development.
IICT, modeled after India’s prestigious IITs and IIMs, will nurture young creators for the media and entertainment industry.
The government has allocated ₹400 crore for the institute’s development, with land provided by Maharashtra.
Seven major companies, including Adobe, Google, and Nvidia, are collaborating on the project.
