Worried about AI eating up your jobs? So is India's Finance Ministry
Economic Survey FY24, prepared by the Department of Economic Affairs, cast worries over artificial intelligence possibly impacting workers across skillsets and thereby affecting India's economic growth rate.
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«The advent of Artificial Intelligence casts a huge pall of uncertainty as to its impact on workers across all skill levels – low, semi and high,» the Survey said.
«These will create barriers and hurdles to sustained high growth rates for India in the coming years and decades. Overcoming these requires a grand alliance of union and state governments and the private sector,» the authors added.
This comes at a time when artificial intelligence, touted as the next big thing in the field of technological development, has changed the way certain businesses work in many different ways. For organisations, the prospect of higher productivity through the use of AI is quite appealing.
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It also comes at a time when private players are lamenting the shortage of skilled workers across India's working population.
Citing recent hiring trends in
