More than nine in ten business leaders in India expect job displacement from AI: Study
Approximately, four-fifth of Indian business leaders believe that innovation is more important than protecting existing jobs
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Over 90% of Indian business leaders believe Artificial Intelligence (AI) will change some office jobs. In addition, 83 percent of Indian businesses predict that AI will displace jobs, a study claimed.
The British Standards Institute (BSI) surveyed 932 business leaders across nine countries. As per the report, 78% of Indian business leaders said that AI tools should be embraced even if some jobs change or are lost.
Approximately, four-fifth of Indian business leaders believe that innovation is more important than protecting existing jobs.
Notably, 98% of Indian businesses see AI as an opportunity rather than a risk. Additionally, 65% of Indian respondents stressed that AI should be used within the next five years to enhance productivity and efficiency.
"AI alone will not replace jobs, but AI paired with robotics or other technology may have a sizeable impact in the long term, potentially reducing reliance on people for repetitive, labour intensive and often risky tasks on construction sites, in factories and warehouses or even restaurants," Theuns Kotze, Managing Director, BSI Group India Private LTD., BSI said.
AI will significantly impact HR job roles. The study cites data showing that 83% of organizations in the country are using AI tools to support the candidate recruitment process. Additionally, nearly 90% of businesses are using AI to support performance management in some way.
Other job roles that could be impacted by AI include marketing, finance, and operations.
Furthermore, the study added that organizations are seeking employees with AI skills.
"87% in India saying that if people do not have the skills to manage AI tools this will hurt their career progression," the study mentioned.
According to the study, nine in ten businesses in India are offering some form of training (90%) and 98% are aware of a significant amount of formal or informal training being offered by their firm to guide employees in how to use AI tools safely, ethically and effectively and manage risk.
