Generative AI: Job Creation & Economic Growth in India

New Delhi, Jan 20 (PTI) Major investments in generative AI (artificial intelligence), incentives from the government and open-source content can boost employment generation and reduce disparities in the country, say experts.

Generative artificial intelligence refers to the use of new-age technology to create new content like text, images, music, audio, and videos.

"Generative AI will boost new job roles and can help people with limited skill levels perform higher level jobs, thus reducing the economic divide", said Vishal Talwar, Director, IMT Ghaziabad in a statement.

According to the statement, highlighting the need for robust infrastructure and special provisions in the upcoming budget for Generative AI-related innovation, IMT Ghaziabad steered a key discussion on Generative AI's role in skill development, job creation, and business education transformation earlier this month.

The deliberations concluded that major Investments in Generative AI can boost employment and reduce disparities in society.

Talwar, emphasized during the deliberation that in the wake of India's ambitious AI initiatives, including India's AI Mission, the nation is poised for a significant leap in AI-driven skill development and job opportunities..

The IMT Ghaziabad envisions a future where Generative AI acts as a catalyst, not just for technological advancements but for empowering individuals with the skills needed in a rapidly evolving job landscape, he stated.

Prof. Mohanbir Sawhney Associate Dean, Digital Innovation, McCormick Foundation Chair of Technology, Director of the Centre for Research in Technology & Innovation, Northwestern University's Kellogg School of Management said that Indian companies can level the playing field in Generative AI by using the platforms and tools already created and building upon those tools to develop applications relevant for the Indian context.

"We have big problems in sectors like education, healthcare, agriculture. There are massive opportunities for solving these problems with uniquely Indian AI and Generative AI-powered solutions," he pointed out.

Given the scale of these problems, he said, "I believe they should be addressed by a collaborative effort between the private sector, the government, and NGOs. We also need to create nation-wide AI skilling initiative to ensure that we are building the talent needed for the future.

Nitin Mishra, Chief Technology Officer, ONDC, opined that Generative AI can improve the lives of people at the bottom of the pyramid.

During the deliberations, Raghav Gupta, MD, India and Asia Pacific, Coursera, focused on the role of Generative AI in making learning more engaging and widening access to high-quality education.