The new law will be 'very balanced' as well as 'strong on securing the rights and sharing the proceeds' among news publishers, content creators and AI-enabled technologies such as large language models (LLMs), 'while keeping good space for innovation', Vaishnaw added.
Our position is that the transition should not be disruptive because lakhs of livelihoods are involved. Secondly, creativity has to be respected both in terms of intellectual property as well as financial and commercial implications.
One thought is to form a self-regulatory body. But we don't think that would be enough. We think that this regulation should be done by legislative method.
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