Will Artificial Intelligence replace the current jobs, or will it create new jobs five years from now? It is analyzed that AI will either be the game changer in Indian industries or it will fail to impact the Indian market. This has led to many question on the subject. One prediction is that AI is going to greatly impact all industries in the Indian market, and this will affect millions of jobs. Yes, this may lead to many job vacancies, but at the same time, new jobs will also be created due to AI.
Artificial Intelligence in Indian Market:
Recently "Future Jobs in India Study", a joint study from FICCI and Nasscom with EY, showed deep research about the future of Indian jobs. In this report, it has come up that the impact of highly advanced AI technologies on five main manufacturing and service sectors
including IT, Retail, Financial Services, Textile, and Auto. It also reveals that 9% of Indians will have new job opportunities that don't yet exist. However, 37% jobs that currently exist will change in some way.
"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," said Nasscom president, R. Chandrasekhar. The sectors like Retail, health care and more non tech sectors will adopt highly advance Artificial Intelligence technologies.
Based on the data and research, it is expected to increase the service and manufacturing jobs from the current 38 million to 45-48 million by the year 2022. The global arena and research firm predict that new advanced AI technology will create 2.3 million new jobs, but also it has been predicted that AI will eliminate 1.8 million jobs by 2022.
"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," said Svetlana Sicular, research vice president at Gartner, in a company statement. It is to be expected that $2.9 trillion will be added to the industry, while 6.2 billion hours of worker productivity will be saved by the year 2021.
AI is going to be the future leader, but still, there are many things it cannot do. It can't sell itself. In order to outsource, you need personnel. The job roles will deal closely with sales and marketing team, where humans and machines will work together and lead to a great future.
From this situation, we can predict that Artificial Intelligence is going to impact future jobs greatly. There are many researchers going on to find good assumptions of this impact, but only the future can tell the reality. From the current point of view, we can expect some new jobs opportunities to be created and we will move towards a great future with Human-AI technology.