Economic Survey 2024: AI Casts Pall Of Uncertainty Over Impact On Workers
The biggest disruption for the future of work is the accelerated growth in AI, which is poised to revolutionise the global economy. India would not remain immune to this transformation, the survey said.
The advent of artificial intelligence casts a “huge pall of uncertainty” with regard to impact on workers across all skill levels—low, semi and high—according to the Economic Survey 2023-24, which was tabled in the Parliament on Monday.
The survey, released a day before the Union Budget, predicted that the new-age technology, while turbocharging productivity, has the potential to disrupt employment in certain sectors. The survey described AI as phenomenal in its rapid pace of innovation and ease of diffusion but cautioned that the future of work will be reshaped by it.
The biggest disruption for the future of work is the accelerated growth in AI, which is poised to revolutionise the global economy. “India would not remain immune to this transformation. AI is being recognised as a general-purpose technology, like electricity and the internet, which is phenomenal in its rapid pace of innovation and ease of diffusion. As AI systems continue to get smarter and adoption increases, the future of work will be reshaped,” the survey said.
While AI has considerable potential for boosting productivity, it also has the potential to disrupt employment in certain sectors. According to the survey, routine tasks, including customer service, will likely witness a high degree of automation; creative sectors will see extensive usage of AI tools for image and video creation; personalised AI tutors can reshape education; and sectors like healthcare can witness accelerated drug discovery.
- With inputs from PTI.
