Major Investments in Generative AI Can Boost Employment and Reduce Disparities, Say Experts
How Generative AI Can Bridge the Economic Divide
Major investments in generative AI (artificial intelligence), incentives from the government, and open-source content have the potential to significantly impact employment generation and reduce disparities in the country, according to experts. Generative AI refers to the use of new-age technology to create innovative content such as text, images, music, audio, and videos.
Vishal Talwar, Director of IMT Ghaziabad, highlights that generative AI can create new job roles, enabling individuals with limited skill levels to perform higher-level jobs. This has the potential to bridge the economic divide by providing opportunities for skill development and job creation.
The Need for Robust Infrastructure and Special Provisions in the Upcoming Budget
IMT Ghaziabad, in a recent discussion on generative AI’s role in skill development, job creation, and business education transformation, emphasized the need for robust infrastructure and special provisions in the upcoming budget to support generative AI-related innovation. The investments in generative AI can have a positive impact on employment generation and reduce disparities in society.
Indian Companies Can Leverage Generative AI to Solve Key Sector Problems
Prof. Mohanbir Sawhney, Associate Dean at Northwestern University’s Kellogg School of Management, suggests that Indian companies can level the playing field in generative AI by utilizing existing platforms and tools and developing applications relevant to the Indian context. Sectors such as education, healthcare, and agriculture present significant challenges, and generative AI-powered solutions can offer unique opportunities for solving these problems.
Collaborative Efforts Needed for Addressing Sector Problems
To effectively address the scale of these sector problems, a collaborative effort between the private sector, the government, and NGOs is essential, emphasizes Prof. Mohanbir Sawhney. Additionally, a nation-wide AI skilling initiative should be established to ensure a talented workforce that can meet the demands of the future.
Nitin Mishra, Chief Technology Officer at ONDC, believes that generative AI has the potential to improve the lives of individuals at the bottom of the pyramid, making a positive impact on their quality of life.
Enhancing Learning and Access to Education through Generative AI
Raghav Gupta, MD of India and Asia Pacific at Coursera, highlights the role of generative AI in enhancing learning experiences and widening access to high-quality education. By leveraging generative AI, learning can become more engaging and accessible, enabling individuals across different socioeconomic backgrounds to acquire valuable knowledge and skills.
These discussions emphasize the significant potential of generative AI in boosting employment, reducing disparities, and addressing sector-specific challenges. Major investments and collaborative efforts are necessary to propel India into the forefront of AI-driven skill development and job opportunities.
Analyst comment
This news can be evaluated as positive. Major investments in generative AI have the potential to boost employment and reduce disparities in society. By creating new job roles and providing opportunities for skill development, generative AI can bridge the economic divide. Indian companies can leverage this technology to solve key sector problems, and collaborative efforts between the private sector, government, and NGOs are needed. Generative AI can also enhance learning experiences and provide access to high-quality education. Overall, the market is expected to benefit from the growth of generative AI and the opportunities it brings.
