AI's Impact on Employment: Economic Survey Highlights Uncertainty and Challenges
13 Sources
[1]
AI can disrupt employment, casts a 'huge pall of uncertainty' on jobs: Economic Survey - Times of India
NEW DELHI: The advent of Artificial Intelligence (AI) casts a "huge pall of uncertainty" when it comes to jobs, considering its impact on workers across all skill levels - low, semi and high, the Economic Survey has said. "The biggest disruption for the future of work is the accelerated growth in
[2]
AI casts huge uncertainty on jobs - Times of India
The advent of Artificial Intelligence (AI) casts a "huge pall of uncertainty" when it comes to jobs, considering its impact on workers across all skill levels - low, semi and high, says the Economic Survey. "The biggest disruption for the future of work is the accelerated growth in AI, which is
[3]
Economic Survey | AI casts "huge pall of uncertainty" over jobs
The Economic Survey published on Monday warned against the potential challenge that artificial intelligence could present to the Indian economy saying the "advent of the tech casts a huge pall of uncertainty as to its impact on workers across all skill levels - low, semi and high." The massive
[4]
The Big Challenge: AI must reboot, not delete, jobs
As per the Survey, tabled by finance minister Nirmala Sitharaman in Parliament, there remain long-existing challenges of formalising a burgeoning workforce, facilitating job creation in sectors which can absorb workers shifting from agriculture, and ensuring social security benefits for those in
[5]
Economic survey flags impact of AI on workers, puts onus on private sector to create jobs
The Economic Survey highlights the adverse impact that artificial intelligence (AI) can have on Inda's working class which, in turn, can add to the barriers to sustained growth for the economy. The survey also turns the spotlight on the private sector to come up with ways to augment labour with the
[6]
Economic Survey underscores dangers of AI for future workforces
India needs to create 7.85 million non-farm jobs every year until 2030 to absorb its growing workforce amid new challenges such as artificial intelligence (AI), which could prove to be the "biggest disruption for future work", the Budget-eve Economic Survey 2023-24, tabled in Parliament on Monday,
[7]
AI impact on workforce risk to sustained high growth
Manufacturing sector is less exposed to AI as AI-powered industrial robots are neither as nimble nor as cost-effective as human labour. With the rise in artificial intelligence (AI) adoption, the number of jobs in India's BPO sector is set to go down drastically, said the Economic Survey 2023-24
[8]
AI casts huge pall of uncertainty over impact on workers across skill levels: Economic Survey - ET Telecom
New Delhi: The Economic Survey on Monday said the advent of Artificial Intelligence (AI) casts a "huge pall of uncertainty" with regard to impact on workers across all skill levels. The Economic Survey 2023-24 tabled in Parliament predicted that the new-age technology, while turbocharging
[9]
AI casts huge pall of uncertainty over impact on workers across skill levels: Economic Survey | Business Insider India
The on Monday said the advent of (AI) casts a "huge pall of uncertainty" with regard to impact on across all . The Economic Survey 2023-24 tabled in Parliament predicted that the new-age technology, while turbocharging productivity, has the potential to disrupt employment in certain sectors. The
[10]
Worried about AI eating up your jobs? So is India's Finance Ministry
The Economic Survey FY24, prepared by the Department of Economic Affairs, warns that artificial intelligence could impact workers across all skill levels, hindering India's economic growth. It calls for collaboration between governments and the private sector to overcome these challenges,
[11]
AI Advancement Likely To Result In Job Losses Across All Skill Levels : Economic Survey
The rise of AI casts huge uncertainty as to its impact on workers across skill levels, which can lead to barriers for sustainable growth of the Indian economy, the Survey said It further emphasised that overcoming these challenges will require a joint effort by the central and state governments as
[12]
Don't forget employment responsibility over AI fascination: CEA to businesses
The Economic Survey, placed in Parliament on Monday, mentioned the impact of automation on workers as "complex and uncertain", and suggested India invest in research to "steer the AI bandwagon towards shared prosperity". The Survey's lead author, India's Chief Economic Advisor V. Anantha Nageswaran
[13]
Economic Survey 2024: Govt warns about adverse impact of AI on job market; 'huge pall of uncertainty as to...' | Mint
While touching on the question of artificial intelligence, the economic survey stated, "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. These will create barriers and hurdles to sustained high growth
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India's Economic Survey 2023-24 warns of AI's potential to disrupt employment, emphasizing the need for reskilling and adaptation in the job market. The report highlights both opportunities and challenges presented by AI technologies.
AI's Disruptive Potential in the Job Market
India's Economic Survey 2023-24 has raised significant concerns about the impact of Artificial Intelligence (AI) on employment, stating that it "casts a huge pall of uncertainty" over jobs
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. The survey, tabled in Parliament, highlights the transformative nature of AI and its potential to disrupt various sectors of the economy.Challenges and Opportunities
While acknowledging the challenges, the survey also points out the opportunities that AI presents. It suggests that AI could potentially create new job roles and increase productivity in certain sectors
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. However, the report emphasizes that the net impact on employment remains uncertain, with the possibility of job displacement in some areas.Reskilling and Adaptation
The Economic Survey stresses the importance of reskilling and upskilling the workforce to adapt to the changing job market. It calls for a collaborative effort between the government, educational institutions, and the private sector to prepare workers for the AI-driven economy
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.Private Sector's Role
The survey places significant responsibility on the private sector to create jobs and drive economic growth. It suggests that the private sector should take the lead in investing in AI technologies while also focusing on job creation
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.AI's Impact on Different Sectors
The report indicates that AI's impact will vary across different sectors and job roles. While routine and repetitive tasks are at higher risk of automation, jobs requiring complex problem-solving, creativity, and emotional intelligence may be less affected
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Government's Approach
The Economic Survey advocates for a balanced approach to AI adoption. It recommends policies that encourage innovation while also addressing the potential negative impacts on employment. The government is urged to create a supportive ecosystem for AI development while ensuring that the benefits are distributed equitably across society
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.Future Outlook
As AI continues to evolve, the survey suggests that its impact on the job market will require ongoing assessment and adaptation. It calls for continuous monitoring of AI's effects on employment and the development of responsive policies to address emerging challenges
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