Speaking at the Carnegie India Global Tech Summit on Wednesday, Mohan said India’s digital ecosystem looks dramatically different from 20 years ago with a strong base of entrepreneurs, capital inflow and innovations such as the Unified Paymens Interface.
“I think the question for India is ‘how do we make sure we’re playing a material role in contributing to the shape of what the Metaverse becomes through our ideas, entrepreneurial energy and through developers,” Meta Platforms’ VP and MD in India said. Doing so would expand the opportunities for the country’s people as well, he said.
India has a fundamental advantage as a young population can embrace change and adopt new technologies probably faster than any other society in the world, he added.
Answering queries on content moderation on Meta (previously Facebook) which has become a sore point between several governments globally and the company, Mohan said that Meta has invested $30 billion over the last five years on improving safety and security on its platforms, which is having material effect as the prevalence of hate speech is now just 0.3%.
The company has for some time now been an advocate of a new set of rules that governs tech companies.
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“We do believe that societies around the world can benefit from greater clarity on requiring companies to be transparent about how data is used. The second is how do we ensure that people still have agency in a world where algorithms will have a huge role to play?” Mohan said.
