While we Indians are trying to embrace a cashless society, standing on the verge of digitisation and the Fourth Industrial Revolution, there happen to be some pitfalls that we cannot possibly ignore.
The Digital age has ushered in a lot of new ideas and concepts such as artificial intelligence, machine learning, and robotics process automation into the world of jobs and recruitment, which has redefined the way hiring is carried out.
At the recently held event Seventh Foundation Day Lecture in ICFAI Foundation for Higher Education, Former Reserve Bank Governor, C Rangarajan cautioned that automation a part of “Digital Age,” which is expected to create jobs at “higher” levels may curtail employment opportunities to people in the coming future.
Lakshmi Narayana, the vice-chairman of Cognizant Technologies Solutions, also present at the event, spoke in similar lines. He said that, until recently, the replacement of humans by machines was only at a level, where what was repetitive and routine. However, now with the emergence of artificial intelligence, machines are now increasingly replacing human beings at higher levels of accuracies.
Adding on to it, Rangarajan said that, while the job market is open up in the highly sophisticated levels of intellectual power, artificial intelligence is gradually replacing the human beings at the job level. He said, in the early ages, during the first Industrial Revolution, machines assisted people in performing certain tasks with ease; whereas now, machines are all set to replace human beings.
However, in India, the scenario may not be that intense yet as compared to its global counterparts. But sooner or later, not only in India, but processes across the globe are all set to be affected by artificial intelligence.
In a recent case reported, Infosys had already “released” nearly 9000 employees owing to automation of certain lower-end jobs over the past one year. While automation or artificial intelligence may be one of the many reasons, nonetheless, its overall effect cannot be underestimated.
It is a fact that most big IT companies are gradually moving towards embracing machine learning and artificial intelligence and this is bound to have a significant impact on the overall workforce in the IT sector. Whether we like it or not, accept it or not, it is a fact that automation will influence workforce in the long run—for better or for worse.
Source : Economic Times