Jeffrey Sachs Hails Adani Group, Warns on AI Risks at Varanasi Forum
Varanasi, November 2: Renowned economist Professor Jeffrey D. Sachs, who directs the Center for Sustainable Development at Columbia University, on Monday lauded the contributions of the Adani Group and its social development organisation, the Adani Foundation, to sustainable development in India and globally.
At a world seminar titled 'Ancient Wisdom for Modern Challenges' in Varanasi, Sachs described the Adani Group as one of the principal drivers of change, progress and infrastructure development in India.
'In the country's infrastructure-driven growth story, this group is playing a crucial role, and its contribution to economic momentum is outstanding,' he said.
In his keynote address, Sachs argued that large family-run business groups are more than commercial entities. They also carry family values, legacy and responsibility towards society.
He noted that such enterprises should ask what they are giving back to the communities in which they work, specifically mentioning the Adani Group in this context.
To illustrate the challenges of social responsibility and corporate governance, Sachs referenced former Unilever chief executive Paul Polman. He said Polman's attempt to make Unilever a socially responsible company met resistance from investors and shareholders who valued only financial profit.
Sachs further expressed unease over the swift expansion of artificial intelligence. Commercial opportunities, he said, must be explored alongside a clear-eyed assessment of possible risks.
Citing the US-based AI company Anthropic, he pointed out that its CEO Dario Amodei has warned about the serious potential threats posed by AI, while the company is simultaneously moving towards a major initial public offering.
Under such conditions, Sachs said, the technological risks and their social effects must be weighed seriously, ahead of business aspirations.
He stressed that the world's current challenges demand a careful balance between economic growth, social responsibility and technological innovation. Sustainable development, he said, will only be achieved when industry, governments and society come together and place long-term interests first.