AI is ready to change the business landscape especially in developing nations
Artificial Intelligence is one of the most debatable topics today. It has enabled us to create the smart machines and reduce human efforts in complex and highly iterative processes. Latest developments in the field of technology have empowered the designers, all over the globe, to create much-improved machine learning.
Machine learning and artificial intelligence have paved the way for improved bots who are now ready to replace human efforts in many new industries.
According to a study by Oxford, 47% of jobs will disappear in next 25 years. We have already lost much more in the recent past. Many things which were earlier done by humans are either vanished from the market or are done by machines now. These losses have led to populist movements in many foreign countries and people are debating over the fears of losing further jobs from the markets.
People are very much concerned about many jobs which will be replenished by bots like models, sports umpires, telemarketers, paralegals etc. Many supporters of AI says that only jobs which don’t need high skills will be replaced. Highly skilled population do not need to worry much about jobs eradication. Almost all organizations do some or the other kind of upgrades to keep sync with the technology updates.
India is a country having a huge tech base and numbers are adding up in this industry. We have a huge population who does not read codes and understand technology. Here opportunities are immense. People who have worked abroad are coming back to India as they are seeing opportunities here.
A large number of jobs have vanished from international markets and a few are adding up. But here in India, there is enormous potential for jobs and the nation can create a myriad of job opportunities. Rising trends of online transactions, improving penetration of Internet to rural markets have shown promising signs to the service industries.
There are many services to be given and much more to deliver to a common man. It can surely surpass the early fears of AI in the global markets. Indian markets because of its huge potential can stay aloof from the global vulnerability.
Many new jobs are introduced in the markets which never existed. Perhaps, the recent growth of Artificial Intelligence market is driven by the improved IT infrastructure and mobile phones penetration in India. Companies are investing heavily because they are seeing promising users for AI in Indian service sector. AI can help in creating the services at a rate compatible with the demand.
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According to a recent survey, almost 4000 machine learning and AI programmers are needed in Banglore alone. Even the government is giving the required push, it wants AI to transform the public sector and it’s functioning.
The promising aspects of machine learning and artificial intelligence are higher in developing countries like India, who are looking at it as a boon for serving their large population. The major sectors in India which could be affected by AI are manufacturing, agriculture and IT. The number of jobs eroded by AI will be easily replenished by the new jobs created here if not instantly then in the longer run.
The launching of Make in India movement is focusing on improving all these prominent sectors of Indian economy. Skill India is another ambitious campaign launched by the current government. This movement will strengthen the existing sectors and will open further ways to create jobs. People in India are being skilled for other jobs too. The movement is focused on improving the employability as well as the skill set of the current workforce.
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