Jobs in the Age of AI

AI is erasing job opportunities faster than such reckonings can sink in. Recently, Mr Sridhar Vembu highlighted this phenomenon in China, the world's workshop, where many university graduates are ending up without jobs. Mr Vembu suggests that the government should build an ecosystem conducive to self-employment and entrepreneurship. However, this is not the right remedy.

In fact, AI-enabled large ventures not only require fewer workers but also threaten smaller enterprises and independent service providers. The impact on these smaller players is likely to be even more severe than the impact of AI on large corporations' need for an ever-shrinking workforce. Addressing this challenge, therefore, requires something more ingenious.

India must work on AI and harness its potential to make Indian companies more competitive internationally. At the same time, the answer lies in focusing on underdeveloped domains of the economy, such as tourism, healthcare, education, financial markets, R&D, agriculture, sports, literature, the arts and culture. These sectors offer considerable scope for expanding economic activity and creating employment opportunities.

Niraj Kumar Jha