New Delhi: Prime Minister Narendra Modi on Friday said the responsible and inclusive adoption of artificial intelligence (AI) will play a vital role in accelerating India's journey towards becoming a developed nation.

Artificial intelligence is reshaping industries and creating new avenues for productivity and innovation, he said.

In a message to the AI Innovation Summit organised by the Institute of Chartered Accountants of India (ICAI), Modi said the accounting and financial professions are also witnessing rapid changes driven by technological advancements.

"When used responsibly and allied with human judgement, AI-powered tools can improve efficiency, strengthen compliance, enable better decision-making and help professionals deliver greater value," he said.

The prime minister's message was read out at the inaugural session of the two-day summit, which commenced on Friday in the national capital.

As India advances towards becoming a developed nation, he said, the responsible and inclusive adoption of AI will play a vital role in accelerating the journey.

The government is taking various initiatives as part of its broader efforts to make India a developed nation by 2047.

Modi also appreciated the invaluable contribution of the chartered accountants' fraternity to the country's progress.

"As India embraces the opportunities of the AI era, I am confident that the CA fraternity will continue to uphold the highest standards of integrity while leading innovation and excellence in the financial sector, contributing to the building of Viksit Bharat," he said.

ICAI, set up under an Act of Parliament, has more than five lakh members.