Former RBI Governor Raghuram Rajan, while speaking at the #FUTURE Global Digital Summit, organised by the Kerala government said that the Artificial Intelligence(AI) could take up both skilled and unskilled job.
“What jobs will humans be able to do in 10-15 years that are immune from threat?Jobs that require high intelligence and creativity; jobs that require human empathy and jobs where human working for us bolster our status in some way.”
“Two hundred years since the industrial revolution, jobs are still around. People and society adapt to do the things that machines cannot do. With technology, across every job there is going to be a restructuring, taking away the routine aspects and leaving the creative and customised aspects of that job.”
While indexing especially India, Rajan said: “We have a huge hunger for capabilities at every level. If we can create incomes at some level, the aspirations of people will ensure their children move up in life and get the opportunities that they did not.”
“We have to make sure Indian capital is available because often it is closest to the ground and understands the financing better. “We have to make sure that the companies of our future are incorporated in India, get Indian financing and expand significantly. We cannot miss out on the AI and Robotics revolution.”
While commenting on Indian education system, Rajan said: “We need to remedy weaknesses in education at every stage, build more world-class institutions domestically and bring the talent back from abroad. We are not as global as we should be even now. Too many of our people are too poorly educated or skilled to compete in a globalised tech-enabled economy. If we don’t do that we will end up with a two-tier economy of a few “haves” and a vast population of “have-nots”, which is neither socially stable nor desirable.”