**The Imperative of Embracing Artificial Intelligence: Reducing Job Displacement**
The Economic Survey of India’s 2022-23 noted that policymakers will face an unprecedented transformation in the job market as artificial intelligence (AI) becomes increasingly prevalent. One critical concern is that AI may displace workers, particularly in the middle- and lower-income brackets, limiting social mobility and exacerbating poverty.
One argument is that AI technology can enhance productivity, making many job positions redundant. According to a report by the World Economic Forum, up to 75 million jobs may be automate in the next 25 years, mainly in sectors like manufacturing and logistics. This shift could have devastating consequences for those who have already lost their employment due to automation.
The pace of technological advancements has accelerated in recent years, enabling AI-powered systems to perform tasks previously thought to be unique to human intelligence. This means that more workers may be at risk of losing their jobs due to computerization, rather than being displaced by new jobs created.
Government-appointed Task Forces and expert organizations have estimated that millions of individuals in India may lose their jobs due to automation, with some forecasts suggesting that up to 30% of the country’s workforce could be displaced by 2030. This growth in job displacement could negatively impact the social and economic fabric of Indian society.
Addressing the challenge of job displacement will necessitate significant policy interventions. The government can engage in targeted initiatives to upskill and transfer workers from low-productivity occupations to more creative, human-centric roles such as content creation, social media management, and public administration.
Policy makers should consider implementing legislation that regulates AI growth and utilization in industries. Moreover, offering financial incentives to individuals who acquire new skills or re-pursue pre-AI related careers could help mitigate the loss. Furthermore, the creation of safety nets, such as unemployment benefits, may also become necessary to support affected workers.
Employers and workers themselves must engage in mutual understanding and cooperation to facilitate human-AI collaboration. The two can benefit from each other in various capacities, and human workers can leverage their diversified skills and creativity. In the current technological landscape, a balanced approach to addressing job displacement and growth in AI needs to be developed.
In order to preserve work and societal stability, policymakers, managers, and workers must proactively address the consequences of technological advancements and remain relentless in focusing on human capabilities and global aspirations. The challenges lay ahead, but the task begins with recognizing and addressing the imperative of embracing AI and actively shaping its potential.