Earlier this week, Nirmala Sitharaman stated that industries that are most likely to propel India into becoming the world's third-largest economy will be those that adopt AI. All technologies drive economic growth through productivity improvement, greater value addition and sustainable development. AI can refine each of these aspects to make the process even easier. Of course, like all technologies, AI will have a disruptive impact on the job market, but this can be lessened through the upskilling of the workforce. AI should make growth more equitable by enhancing productivity across the value chain, lowering costs and reducing resource dependency.
This technology favours India particularly because its development coincides with a growth spurt for the economy, and the country has a large enough pool of technology workers to speed up AI absorption. The pace of AI diffusion will be decided by economic momentum, where India has been leading most large economies this decade. Its growth also imposes additional constraints on sustainability, where AI can make a big difference. Finally, the country's demographics require a rapid transition to better-paying jobs that AI can facilitate. India will be a significant player in the AI race, using technology to overcome chronic disadvantages in incomes, education and healthcare.
The nature of AI is more inclusive than digital technologies preceding it, which should make for a relatively brisk technological revolution. Technology is being taken out of the grip of a select section of society and transferred to the population at large to employ it whichever way they like. Entry barriers, such as familiarity with computer code, slowed the dispersal of digital technologies, but now any worker can use AI to make improved decisions. India also has a role in lowering the cost of AI solutions. Data generated on the large Indian population should help train AI models. GoI's emphasis on DPI can be expected to keep the local innovation pot boiling.
This technology favours India particularly because its development coincides with a growth spurt for the economy, and the country has a large enough pool of technology workers to speed up AI absorption. The pace of AI diffusion will be decided by economic momentum, where India has been leading most large economies this decade. Its growth also imposes additional constraints on sustainability, where AI can make a big difference. Finally, the country's demographics require a rapid transition to better-paying jobs that AI can facilitate. India will be a significant player in the AI race, using technology to overcome chronic disadvantages in incomes, education and healthcare.
The nature of AI is more inclusive than digital technologies preceding it, which should make for a relatively brisk technological revolution. Technology is being taken out of the grip of a select section of society and transferred to the population at large to employ it whichever way they like. Entry barriers, such as familiarity with computer code, slowed the dispersal of digital technologies, but now any worker can use AI to make improved decisions. India also has a role in lowering the cost of AI solutions. Data generated on the large Indian population should help train AI models. GoI's emphasis on DPI can be expected to keep the local innovation pot boiling.
