satyamkapoor

I work at ValueFirst Digital Media Private Ltd. I am a Product Marketer in the Surbo Team. Surbo is Chatbot Generator Platform owned by Value First. ...

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I work at ValueFirst Digital Media Private Ltd. I am a Product Marketer in the Surbo Team. Surbo is Chatbot Generator Platform owned by Value First.

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Fear that artificial intelligence will take up both skilled & unskilled jobs: Raghuram Rajan

By satyamkapoor |Email | Mar 24, 2018 | 6798 Views

The former governor of RBI, Raghuram Rajan today expressed concern of Artificial Intelligence taking up both unskilled and high skilled jobs. He said that with advancement in robotics, machine learning and artificial intelligence we will see not only unskilled jobs going away but also that of skilled professionals like doctors. In his keynote address at #FUTURE Global Digital Summit, he asked what jobs humans would be doing that are immune in 10-15 years? Such jobs would be the ones that require high creativity and intelligence and that add lot of value.


He also added that India would have to embrace this technology if it wants to become a leader and will have to shun away all fears of job losses. The fear of man being replaced by machines has existed since industrial revolution and will continue to do so.


He added that 200 years since the industrial revolution jobs are still there and humans adapt to situation that machines cannot do. Because of advancement in technology, there will be restructuring of every job which will take away the routine aspect and leave only the creative aspects of the job for humans. Another fear he highlighted was of people worrying about where would income come from. He answered to it with Universal Basic Income. He mentioned that the Indian government needs to do more for startups and provide them an easier path to funding and incorporation.


One big lacunae in India according to Rajan is the lack of risk financing because of which startups go elsewhere. He feels that we need to ensure that our future companies are incorporated in India and provide them finances to expand rapidly. India cannot miss out on AI and robotics revolution. Another area where India needs to improve is skill building.

 

Source: HOB