ET Soonicorns Summit 2025: From Madhusudan Kela to Rashmika Mandanna—why deepfakes are forcing founders to rethink ethics in the AI age
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Did you know that, according to a survey, one in four Indians viewed or encountered political deepfake content online? A 2024 survey by cybersecurity firm McAfee reported encountering some form of deepfake content in the past year. Additionally, 38% said they had been targeted by a deepfake scam during this period.The Indian startup ecosystem is buzzing with the transformative potential of artificial intelligence (AI). For a nation brimming with innovators, AI is the next frontier, promising to solve complex problems and create unprecedented value. Yet, as generative (Gen) AI tools become more accessible and powerful, a dark cloud looms on the horizon. The very technology that fuels innovation is also enabling a new wave of digital manipulation, misinformation, and deceit.The deepfake incidents involving actress Rashmika Mandanna and veteran investor Madhusudan Kela are not isolated events; they are early tremors of a seismic shift, a warning of the ethical tightrope that founders, innovators, and society as a whole must now walk.The viral, manipulated video , where a viral deepfake video showed a woman with Mandanna's face entering a lift in a fitted outfit, sparked a national outcry, bringing the issue of non-consensual synthetic media into sharp focus. Similarly, a deepfake video of Madhusudan Kela promoting a fraudulent investment scheme highlighted the technology's potential to cause significant financial harm and erode trust in the market. These high-profile examples underscore a burgeoning crisis.Deepfake-related cybercrime cases in India have reportedly surged by a staggering 550% since 2019, according to a 2024 report by Pi-Labs. The threat is no longer theoretical. Projections estimate that deepfake fraud could cost the Indian economy up to Rs 70,000 crore in 2025.Recognising the urgency of this conversation, the ET Soonicorns Summit 2025, returning to Bengaluru for its fourth edition on August 22, will host a pivotal session titled, 'AI's Ethical Crossroads—Innovation vs.Manipulation in a Deepfake Era' This session will bring together leading thinkers from technology, policy, and civil society to dissect the challenges and chart a course for responsible innovation.As AI-generated content blurs the lines between fact and fabrication, societies face rising threats from misinformation and disinformation. The World Economic Forum (WEF) has identified misinformation and disinformation as the biggest short-term risks . It is widely reported that misinformation and disinformation are potentially capable of skewing public perception, influencing elections, and fuelling social division.This digital deception epidemic is creating a trust deficit that impacts not just individuals but also businesses.In this high-stakes environment, the onus is on the creators of technology to navigate the complex ethical landscape. Startups, celebrated for their agility and 'growth-at-all-costs' mindset, are now at a critical juncture. The race to innovate cannot come at the cost of societal well-being. Balancing the immense opportunities of AI with the profound responsibility to prevent its misuse is the defining challenge for the next generation of entrepreneurs.The panel for this crucial discussion features five experts who bring diverse and critical perspectives on the intersection of technology, ethics, and society.A social entrepreneur with deep roots in rural India, Santosh Phad's work is a powerful reminder of technology's potential for positive impact. He founded the Pune-based ThinkSharp Foundation in 2011 to bridge the urban-rural education divide by providing digital infrastructure to schools. Having experienced the resource gap firsthand during his own education, Phad's mission is to empower children in underserved communities with modern learning tools. His on-the-ground experience with the 'StudyMall' project, which has impacted over 200 rural schools, provides a unique lens on how AI can be a tool for empowerment and the importance of ensuring the digital revolution is inclusive.A globally recognised voice on digital justice, Anita Gurumurthy leads IT for Change, a Bengaluru-based NGO focused on the political economy of the digital age. Her work critically examines data and AI governance, advocating for feminist frameworks and a rights-based approach to technology. Gurumurthy has consistently highlighted the potential for AI to perpetuate and amplify existing biases and has been a strong proponent of holding technology companies accountable. She has served as an advisor to numerous bodies, including the United Nations Secretary-General's 10-Member Group in support of the Technology Facilitation Mechanism, bringing a wealth of international policy experience to the discussion.Straddling the worlds of academia and entrepreneurship, Amit Prakash offers a multifaceted perspective on technological innovation. As a Professor at the International Institute of Information Technology Bangalore (IIITB), his research focuses on the intersection of Information Systems and Public Policy, with a keen eye on equity and inclusion. He is the Co-founder of Vembi Technologies, a startup dedicated to assistive technology, and Vision Empower, a non-profit working on accessible education for the visually impaired. Having worked on advisory assignments for organisations such as Deloitte and PricewaterhouseCoopers (PwC) before his academic career, Prakash brings a deep understanding of both the policy landscape and the practical challenges of building technology for good.A seasoned public policy professional, Aparajita Bharti specialises in navigating the complex regulatory environment surrounding technology. As a Founding Partner at The Quantum Hub (TQH), a policy and communications firm, she works at the nexus of law, technology, and society. Her experience includes working as a Legislative Assistant to a Member of Parliament and being a Tony Blair Faith Foundation Fellow. Bharti's expertise in tech policy will be vital to the discussion on how to create regulatory frameworks that foster responsible innovation without stifling the agility of startups. Her work makes her a key voice in shaping India's digital future.A leading researcher and policy strategist, Urvashi Aneja focuses on the societal impact of technology in the Global South. As the Founder and Director of Digital Futures Lab, she leads a think tank dedicated to building equitable and sustainable digital futures. Recognised as an 'Influential Woman in AI,' Aneja's work examines the ethics and governance of AI, with a focus on its impact on labour, gender, and climate change. She advises governments and international organisations, including serving on the UN's committee on Safe Digital Public Infrastructure and the Government of Telangana's committee on Responsible AI, bringing a forward-looking and globally-informed perspective to the challenges of the deepfake era.The 'AI's Ethical Crossroads' session at the ET Soonicorns Summit 2025 is more than just a panel discussion; it is a crucial forum for the Indian startup ecosystem to confront one of its most pressing challenges. For the founders, investors, and policymakers building India's techade, the insights from these diverse voices will be indispensable. As the lines between innovation and manipulation continue to blur, the ability to build ethically sound, trustworthy technology will be the ultimate differentiator for the next generation of unicorns.360 One is the presenting partner of the ET Soonicorns Summit 2025
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