GPTs are technologies that dramatically alter societies as well as economic dynamics. There were three GPT waves in past. The first is the invention of steam engine in the 1700s. The second is the generation, distribution and application of electric power that began in 1890s. The third is the rise of information technology (IT) which began in the 1970s. We missed the three GPTs and the western world pulled ahead. AI or artificial intelligence is the fourth GPT and it will be all pervasive in a decade or so. The US leads in terms of AI patents. China is trying to catch up. The EU has been doing rigorous research in AI. India must have a long term plan to avail of the benefits of AI. Another technology viz. Quantum Computing moves out of the labs to the real world ten years hence.