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. 25/10/2024 10:48 AM
Introduction
India is embracing AI and automation to boost efficiency in various sectors. However, concerns arise about potential job losses as machines take over tasks traditionally done by humans. While AI can create new opportunities, it also threatens to displace some jobs.
Global Perspective
AI has the potential to impact 40% of jobs globally, with advanced economies like the US and Europe seeing around 60% of roles affected. In emerging markets like India, this figure is lower, but the need for infrastructure and skilled workers to handle AI remains a challenge.
Technologies Driving AI and Automation
Machine Learning (ML): Systems learn from data to improve performance without needing explicit instructions.
Robotics: Machines perform physical tasks autonomously, often used in industries like manufacturing.
Natural Language Processing (NLP): AI systems process human language, found in chatbots, translation services, and more.
Robotic Process Automation (RPA): Automates repetitive tasks, freeing human workers for more complex jobs.
AI's Impact on Jobs
Globally: Up to 300 million jobs could be affected by AI, particularly in customer service, sales, and accounting roles. McKinsey predicts 14% of workers may need to change careers due to AI by 2023.
India: The IT sector is a key employer, but AI may change this landscape. It could affect 300 million blue-collar jobs, but mass job losses are unlikely as AI tends to enhance rather than replace workers.
Sectors Affected by AI in India
Service Sector: AI chatbots like Amazon’s Alexa enhance customer experiences by offering personalized services.
Healthcare: AI tools are improving diagnostics and telemedicine, particularly in rural areas.
Finance: AI helps with fraud detection, credit assessment, and personalized banking, with growing demand for AI experts in this field.
New Job Opportunities
AI isn’t just about replacing jobs—it’s also creating new ones. The World Economic Forum predicts AI will generate 12 million more jobs than it eliminates by 2025. Sectors like IT, manufacturing, and agriculture could benefit from AI-driven job creation.
Job Losses and Displacement
Despite new opportunities, AI may displace workers, especially in labor-intensive industries like textiles and electronics. India’s informal workforce, which makes up 90% of the population, is particularly vulnerable, as these workers may not have access to retraining.
Mitigating Job Displacement
Skill Development: Programs like the Skill India Mission aim to reskill workers in AI and emerging technologies.
Social Security: Providing benefits like unemployment support and health insurance can help workers transition to new roles.
Encouraging Entrepreneurship: Supporting startups and innovation in AI-related fields can stimulate job creation.
Conclusion
AI is transforming India’s job market by both creating new roles and posing challenges like job displacement. To benefit from AI’s potential, India must invest in skill development and build a robust AI ecosystem while promoting inclusive growth across sectors like healthcare, agriculture, and education.
