Union Finance Minister Nirmala Sitharaman has addressed concerns about job losses due to artificial intelligence (AI) technology, assuring that fears are alleviated because AI also relies on human intervention. In an interview with Hindustan Times, Sitharaman discussed various aspects of the budget and the state of the economy.
When asked about the issue of unemployment, especially with investments primarily flowing into highly efficient and technology-driven industries like AI, Sitharaman emphasized the need to address unemployment but also highlighted that AI requires human intervention and will not operate on its own. She stated that investments are necessary, and if they create jobs, that’s a positive outcome. Even if investments don’t directly generate many jobs, having businesses in an area can lead to other job opportunities.
Sitharaman described the debate on job creation as layered, with the need for investment, jobs, meaningful jobs, and highly rewarding jobs. She praised the Atmanirbhar Bharat (Self-reliant India) announcements made during 2020, stating that reforms were continued during the Covid-19 pandemic. She also highlighted that the Indian economy is currently experiencing sustained growth, unlike economies elsewhere.
Regarding the launch of more new Production Linked Incentives (PLIs), Sitharaman stated that the government has not yet made a decision. Some PLIs have performed well, while others are yet to take off, according to Sitharaman.
Overall, Sitharaman’s comments demonstrate a balanced perspective on the issue of job loss concerns in relation to AI. She acknowledges the importance of addressing unemployment while emphasizing the role of human intervention in AI technology. The finance minister also highlights the need for investments and the potential for indirect job creation through the presence of businesses in an area.
