Implementation of artificial intelligence (AI) by Indian companies has created new jobs in the country, a new report by IT and consulting firm Capgemini said, countering fears that it will cause massive job losses in the near future.
The report, which reviewed responses of nearly 1,000 companies from nine countries, said that over 92 percent of 86 companies surveyed in India have created new jobs related to AI while over 60 percent say that they don't expect automation to steal jobs in the country. In fact, India leads in AI implementation with 58 percent of organizations embracing the technology at scale, followed by Australia,
In fact, India leads in AI implementation with 58 percent of organisations embracing the technology at scale, followed by Australia, Italy and Germany with 49 percent, 44 percent and 42 percent, respectively.
"There are several potential reasons India has a strong position. First, the country has taken center stage for companies setting up innovation centers... Second, the government's support through initiatives such as "Digital India" creates a favorable regulatory environment," the report said.
AI and the impact of automation have raised serious concerns about job losses over the past few months, especially for low-skilled workers.
A recent report by HfS Research said that about 7.5 lakh Indian workers with fewer skills could lose their jobs over the next five years because of automation. The same report also said that about three lakh medium and high-skilled labours will also get employed.
The latest Capgemini report also suggested a similar trend when it said that a significant portion of the additional AI-related jobs are created in upper management levels, "with two in three jobs being created at the grade of a manager or above."
The report, however, also provided further evidence that companies see AI as a means of reducing the time employees spend on a daily basis on routine and administrative tasks to help them deliver more value.
Globally, 89 percent of the respondent organisations believe that AI will make complex jobs easier while 88 percent of them believe that intelligent machines will coexist with humans within their businesses.
"What we really want to do is to use humans to the best of their capabilities," Michael Natusch, global head of AI at Prudential, said in a statement. "AI is taking away the time humans previously spent on repetitive issues and allowing them to focus on where human intelligence can drive value – for both themselves and for customers."