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How AI will impact 54 million Indian jobs

Monday, December 18th, 2017

Artificial Intelligence (AI) is posed as a threat to IT professionals. The advanced technology can be a game changer among various industrial sectors. Experts believe AI will have an impact on 54 million Indian jobs in next few years. 

 

While AI has eliminated jobs, there are many jobs that will be created due to AI. A joint study titled, “Future Jobs in India Study” by FICCI and Nasscom with EY talks about the number of jobs that will be eliminated due to AI. The revolutionary technology will have high advantages in sectors like IT, Financial Services, Auto, and Textile. The study also reveals that AI will create new job opportunities for 9% of India’s total workforce.

 

Based on the research, AI will increase the jobs in service and manufacturing space. Currently, there are 38 million jobs in the manufacturing space, the same will increase to 45-48 million by 2022. The advanced AI technology is expected to create 2.3 million new jobs. According to the research firm, AI will also eliminate 1.8 million jobs by 2022.

 

R Chandrasekhar, the president of NASSCOM said, “The report attempts to present a 2022 picture, a time when no one can afford to ‘rest on one’s laurels’ but needs a continuous learning culture. Another important fact being seen is that non-tech firms are increasingly emerging as the source of information technology roles.”

 

The advanced AI technologies will have a high impact on sectors like retail, healthcare, and manufacturing. The adoption of automation in the non-tech sectors will create a bigger impact on the market. While 9% of the total workforce will have access to new opportunities, 37% of the current jobs will change in some way.

 

The research VP at Gartner said, “Unfortunately, most calamitous warnings of job losses confuse AI with automation. That overshadows the greatest AI benefit- AI augmentation-a combination of human and artificial intelligence, where both complement each other.” AI is likely to add $2.9 trillion to the industry. With the adoption of AI, companies will save 6.2 billion hours of worker productivity in the next three years.

 

- Rajat Kabade

 


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