India Should Not Worry About Job Losses Due To AI : MeitY Secretary

AI Adoption Should Not Worry India About Job Losses: MeitY Secretary

SUMMARY

S Krishnan said that AI’s potential in different domains may boost productivity across industries such as manufacturing and churn out new job opportunities

He also highlighted that India can leverage training of youth in STEM (science, technology, engineering, mathematics) and witness new jobs roles emerging

Krishnan also spoke about the importance of developing foundation models in India with focus on issues relevant to the country and languages spoken here

Adoption of artificial intelligence (AI) in India should not raise concerns about job losses as workforce training is preparing people for emerging roles, said Ministry of Electronics and Information Technology (MeitY) secretary S Krishnan.

Speaking at the second edition of Startup Mahakumbh, Krishnan said that AI’s potential in different domains may boost productivity across industries such as manufacturing and churn out new job opportunities.

“We, at least in India, don’t have to fear job losses as much—which is typically a western fear—because I don’t think we have as many white-collar jobs to lose,” the MeitY secretary was quoted as saying in an ET report.

He also highlighted that India can leverage training of youth in STEM (science, technology, engineering, mathematics) and see new jobs emerge in the domain.

Krishnan also spoke about the importance of developing foundation models in India, and that they should focus on issues relevant to the country and languages spoken here.

“It could also focus on specific sectors and areas that are important to the country,” he said.

The concerns regarding AI-driven job loss peaked after UN Trade and Development’s report noted that up to 40% of global jobs can be impacted by AI. The UNCTAD Technology and Innovation report mentioned that the global AI market is projected to reach $4.8 Tn which is roughly the size of Germany’s economy.

However, the rapid advancements in the Indian AI ecosystem could be a “Y2K” moment for the country’s IT industry, the MeitY secretary said in February Y2K refers to the year 2000 as the world rang in the new millennia, IT companies raced ahead of time to address problems that could arise from computers.

However, commerce and industry minister Piyush Goyal during his address at the Startup Mahakumbh yesterday presented a slide comparing the tech innovations in India with those in China.

The slide compared blooming Indian startup sectors like foodtech, D2C and quick commerce with China’s dominance in deeptech sectors like EVs, semiconductors, AI and robotics.

The minister pointed out that while China is doing big innovations in deeptech sectors, Indian startups seem to be stuck on convenience-focussed businesses.