Artificial intelligence (AI) poses both opportunities and challenges for the labor market, necessitating a careful balance between augmentation and displacement of jobs.
Chief Economic Advisor V Anantha Nageswaran emphasized the shared responsibility of the government and private sector in addressing the medium-term consequences of AI on employment.
He stated, "If we have to avoid the social consequences of capital-intensive or technology-intensive growth... we need a bigger compact between the private sector, government, and the public." This collaboration is essential to leverage the demographic dividend and achieve the goal of becoming a developed nation by 2047 while ensuring social and economic stability.