The Ministry of Home Affairs conducted the G20 conference on ‘Crime and Security in the Age of NFTs’ (Non-Fungible Tokens) AI and Metaverse’ on July 13 to 14 at Gurugram. According to The Hindu, India, while concluding the G20 conference on cyber security, there prevails particular concerns on Artificial Intelligence generated cyber-attacks, malware, great sense of information manipulation and scams that can be made cheaply and at a formidable scale with such tools.

The statement read, “There is also a need to analyse capabilities and applications of AI technologies used by malicious actors that can be exploited for malicious purposes. Focused discussions on the need for transparent and accountable AI governance frameworks to ensure the responsible use of AI technologies is necessary considering the recent developments in this field”.

The statement further said the rising challenges and threats revolve around the misuse of Non-Fungible Tokens (NFT) require proper attention. Hence there is a need for discussions, knowledge exchange and formulation of strategies in addressing this emerging threat landscape. Besides this, the conference also threw light on obstacles in tackling illegal activities associated with Metaverse technologies by facilitating discussions and presenting recommendations and visions during the discussions.

They emphasised promoting an open, secure, stable, accessible, peaceful and accountable ICT environment. There was the need for a comprehensive and balanced approach to ICT development and security including technical and business development, protecting the State’s security and public interest and respecting privacy of each individual.

“Concerns were raised over the increasing challenges faced in protecting individuals, particularly women and children, from online sexual exploitation and other content harmful to their health and well-being. Stakeholders are looking forward to strengthening cooperation to develop initiatives aimed at ensuring the safety of users, especially children and women, on the Internet,” the statement said. Along with it, concern was also expressed about the malicious cyber activities contrary to the already implemented principles and rules of responsible State behaviour in cyberspace and international law.

Therefore, it stressed a need for coordination on prevention and mitigation strategies against the Advanced Persistent (APTs) Threats. This demands a situation in which all states must come together and work to attain certain comprehensive international conventions on misusing the ICTs for criminal purposes under the UN framework while considering the existing international frameworks.