AI-nother Challenge for Biz-Leaders

India recently installed the AI Supercomputer 'AIRAWAT' at C-DAC, Pune, which is ranked 75th globally, positioning India among the leading nations in AI supercomputing. The government has long been emphasizing the potential disruptive impact of artificial intelligence (AI) on India Inc., particularly concerning the country's already fragile job market. However, does AI influence pose significant challenges for workers across all skill levels and could impede sustained economic growth?

There are two sides to the answer to this billion-dollar question. Monotonous job roles, such as data entry and various documentation tasks, have already been replaced by Robotic Process Automation (RPA). On the flip side, it has opened up more creative tasks and job roles. The global RPA market is projected to grow by $16,628.29 million from 2022 to 2027, with a CAGR of 35.83 percent. Similarly, the Artificial Intelligence Market is expected to reach $407.0 billion by 2027, growing at a CAGR of 36.2 percent.

CEO Insights recently conducted a LinkedIn poll on the topic: “Are You Worried That AI Will Replace Your Job?”. The poll shows that 55 percent of the participants are not worried about AI replacing their jobs. While 28 percent expressed concerns about AI replacing their jobs, 10 percent say that AI may replace their jobs in the future, and seven percent are unsure. It looks like the majority of people are positive that AI will not replace jobs. However, this adds another challenge for leaders to tackle. This special yearly issue of CEO Insights sheds light on a handful of excellent business leaders in India who show the way in terms of adapting to the new world order. Do let us know your thoughts.