AI will gradually eat into jobs: Raghuram Rajan
23 March 2018
With advancements in technology and machine learning, artificial intelligence (AI) will gradually eat into jobs, and everyone should be prepared for it, said Raghuram Rajan, the former governor of the Reserve Bank of India.
Addressing the two-day global digital summit, #FUTURE,’ in Kochi on Friday, Rajan noted there had been a dip in jobs over the past year, mainly because of growing automation.
“Jobs that require human empathy, high intelligence and jobs like those of doormen, etc, where humans want other humans to serve will remain,” he said. “Across jobs, there will be restructuring. Routine-ness will be replaced and more focus will be on creativity.”
Advances in AI and robotics will change the nature of jobs, and highly-skilled ones face increased risks, he said.
But the former RBI chief felt that technological change takes time to be accepted especially by governments and in the various departments. Organisations are also slow to change and will take time to adopt new technology.
According to him, there is less fear of job losses due to automation in India as compared to the west. He, however, had an advice: “We need not and should not oppose change,” said Rajan. “We shouldn’t be a victim of it, but embrace it.”
“Are we pushing too fast too quickly?” he wondered. “The crowded streets of Daryaganj in Delhi need more time.”