Nageswaran cautioned that AI presents a long-term challenge, particularly due to the massive short-term disruptions it can cause in the job market. He stressed the importance of finding the right balance in the adoption of AI technologies to mitigate negative social consequences.
The government must focus on policies that promote labour-intensive industries to drive job creation, Nageswaran said, adding that if human labour is undervalued in the face of advancing technology, it could result in permanent unemployment and societal upheaval.
He urged India to learn from the experiences of developed nations, advocating for a balanced approach that aligns capital deployment with labour creation. He said that India can avoid the pitfalls that have led to significant workforce challenges in other countries.
As AI evolves, thoughtful policy-making becomes increasingly crucial to ensure a sustainable and inclusive labour market.
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