Some can breathe easy
There are some fields which are safe for now. AI is taking over jobs, but defendants would still need human persuasion to win the case, as doctors will be needed ‘heal’ the ill. While self-driving cars are the rage in the West, don’t expect to see them in India for quite a while. Technology won’t understand, less withstand the Indian traffic and roads. As such, driving jobs are secure for now.
Safe to say artificial intelligence impacts every profession and almost every industry, some today; surly many tomorrow.
However, this may not be such a bad thing. The industrial revolution forced people to pick up higher-level skills, driving them to better paying and less intensive jobs. Automation will create opportunity to ‘work’ better jobs. India with a strong service sector will benefit.
Challenge Plenty, Opportunities galore
Health care will be disrupted too. IOT and other digital tools will help augment the shortage of medical staff, reduce delivery cost, and serve the rural poor better. Automation in the financial services will create an economic value of about $150 billion, enhancing financial inclusion, the bedrock of inclusive growth.
Technology is the biggest leveler. Blended learning, MOOCs, will transform the way we learn, reduce cost and enhancing ‘learning from education’.
Similarly, automation may finally ‘double’ farmer’s income. Genetically modified crops, Hybrid & precision farming, ‘mobile Internet supported’ market information & farm extension will ‘grow’ another $80 billion in the farm.
Automation will make the public distribution more efficient, curbing leakage, enhancing targeted benefits.
The era of value
Technology enabled solutions will drive immense value. However to seize the full potential we will need both supply and demand side of the fence to meet.
Every rupee invested in broadband infrastructure and the likes will be a multiplier. Economies that implement coherent policy reforms to translate the potential of technology into higher incomes and employment will enjoy higher economic growth and productivity.
(Virat Singh is studying Computer Science at the University of Wisconsin, Madison USA)