03 August, 2021

When AI Spells Exit

AI, robotics and other automation technologies will cause the loss of 6.4 lakh jobs by 2021

When AI Spells Exit
outlookindia.com
2017-10-14T11:01:03+05:30

It’s been an unsettling year for ­India’s IT services industry, a sector that’s among the largest employers in the country. The malaise, as most experts will tell you, is obvious: the shelf life of head count-based IT services was over long ago. Automation and Artificial Intelligence (AI) technologies are actually ­changing the way businesses work, and the $150-billion IT industry in India, which thrived on cost arbitrage and ­fast-paced growth rates for so long, is mostly locked into traditional sources of revenue that are fast drying up. Of course, emerging technology brings new ­opp­­ortunities but, for a sector that employs nearly 4 million people, it also presents an imm­ediate concern. Job losses, by most acc­ounts, will be inevitable.

Industry experts say that emerging AI technologies will change work profiles, and that more high value jobs will open up. But many current positions are fast disappearing. A year ago, HfS Research estimated that the IT industry in India is set to lose 6.4 lakh low-skilled positions by...



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