AI Primarily an ‘Enhancer’ Today. Job Displacement Real, Yet Not Near: Machines are increasingly evolving, enhancing capability, and performing tasks that were once the exclusive domain of humans. A Crux study across 500 academicians and industry leaders highlights that productivity and efficiency (as a result of automation) will drive growth, catalyse employment opportunities and trigger jobs. In addition to ‘growth induced’ jobs, several latent and new opportunities (development, deployment, and maintenance) may emerge in fields related to the proliferation of AI. Technology and the related system must be seen as allies, and productivity enhancing tools, as opposed to job disruptors in the short term.
India’s labour ecosystem is wrapped in a very tattered, moth-eaten fabric. It’s probably the only large economy with 80 per cent of its workforce in the unorganised sector. This sector cannot afford automation. Artificial intelligence is in its infancy in India, and ‘return on investment’ of automation is low as of now. The Crux study concludes that the geometric advancement in ‘ability’ and lowering cost will change the labour market earlier than imagined, potentially disrupting white-collar work as we know it.
This story is from the 22 April 2023 edition of Business World India.
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This story is from the 22 April 2023 edition of Business World India.
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