Why Deloitte thinks AI will not cause job losses
What's the story
Nitin Kini, the Chief Operating Officer of Deloitte South Asia, has dismissed fears of job losses due to artificial intelligence (AI). He said that the consulting giant's ongoing effort to hire 50,000 employees in India is mainly focused on upskilling them. The goal is to enable these employees to solve "higher-order" business problems with emerging technology.
Training focus
Nearly 30,000 employees trained on AI
Deloitte has already trained nearly 30,000 of its employees on AI. Another 20,000 are in the process of transitioning to work with platforms built in-house. Kini also revealed that the company is planning to launch a Quantum Center of Excellence (COE) as part of its aggressive expansion and investment strategy in India.
Market commitment
Indian PSUs hesitant to scale AI projects
India is a top-tier priority market for Deloitte, which invests 9% of its top line into capability and capacity building as well as innovation. This commitment comes despite the hesitation among Indian Public Sector Undertakings (PSUs) and conglomerates to move AI projects beyond the pilot stage. Kini identified data security and cost as two major hurdles preventing this transition.
Dual approach
What did Nitin Kini say?
When asked whether India should be the "AI factory of the world" or its "cyber shield," Kini said the country should strive for both. He compared this dual ambition to a car with a great engine and all necessary security features. "It is a 'dil mange more' approach," he added, emphasizing that we should aim for comprehensive progress in both areas.