10th SBI Banking Conclave | 'AI may lead to job reallocation, not drastic cuts'
Pulak Ghosh, Professor of Decision Sciences and Centre of Public Policy at IIM Bangalore believes certain kinds of jobs may go because we are the midst of a huge amount of automation, but that will create some new kinds of jobs too.
Artificial Intelligence is unlikely to lead to a drastic reduction in number of jobs but it could trigger reallocation of jobs, according to Pulak Ghosh, Professor -Decision Sciences and Centre of Public Policy at IIM Bangalore.
"Certain kinds of jobs may go because we are the midst of a huge amount of automation, but that will create some new kinds of jobs too," he said in a panel discussion on Artificial Intelligence innovations and digital solutions in financial services at the 10th SBI Banking and Economics Conclave on CNBC-TV18.
Ghosh believes that loss of jobs is the lesser worry. The bigger challenge is developing the skill set required for AI, particularly in the field of academia.
"India managed to capture information technology (IT) well because it is a unidirectional skill set. But AI is a multi-disciplinary skill set and Indian academic institutions are notoriously bad in collaboration. So that creates a major problem," he noted.
Second, because our academic institutions are predominantly teaching institutes and not research institutes. They depend on external research before they gain the skill and information needed for teaching such new and constantly evolving subjects. This may lead to a delay in transfer of knowledge.
"Skilling is becoming a tough challenge for us. We also don't know what is coming next. So upskilling is extremely critical today," he noted.
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