Nandan Nilekani says AI will not destroy jobs
What's the story
Nandan Nilekani, the co-founder and chairman of Infosys, has dismissed fears of artificial intelligence (AI) destroying jobs. Speaking at the 8th Bloomberg New Economy Forum in New Delhi on Tuesday, Nilekani said such predictions are exaggerated. His comments come after International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned that AI could disrupt global labor markets significantly.
Tech democratization
You cannot bottle this technology: Nilekani on AI
Nilekani emphasized that AI is a general-purpose technology, one that can't be monopolized by a few players. He said many companies will be involved in its development and deployment.
"You cannot bottle this technology," he said, referring to the growing availability of chips and an expanding ecosystem of AI providers.
Tech accessibility
India to be leader in AI delivery, says Nilekani
Nilekani stressed that India's biggest opportunity with AI lies not in building the most powerful models, but in making this technology accessible to millions.
He said, "India will be a leader in how AI is diffused and delivered to people at scale."
He added that the country's experience with large-scale digital technologies would be a significant advantage in delivering AI applications to businesses and individuals.
Job transformation
Demand for IT companies is increasing, says Nilekani
Nilekani dismissed fears of AI taking away jobs, especially in the IT sector. He said the demand for companies like Infosys is only increasing.
"The requirement for companies like Infosys is increasing. We are going to see more work coming our way," he said, calling doom predictions for the sector "disaster marketing."
Tech evolution
New jobs will emerge in understanding client needs: Nilekani
Nilekani said business transformation is much more than just coding.
He estimated technology accounts for only 30% of a typical tech project, with the rest being governance, guardrails, and understanding business requirements.
As AI takes over routine tech tasks, new jobs will emerge in understanding client needs and managing organizational change.
Job creation
India is better placed than many other economies
Nilekani expressed confidence in India's ability to create jobs for its youth, saying the country is better placed than many other economies.
He said unlocking India's small business economy could create a lot of jobs.
Nilekani noted that businesses with three to five people will not be disrupted by AI.