ChatGPT Helps Indian IT Companies Win Projects and Boost Employment: CEA Anantha Nageswaran

India’s chief economic advisor, V Anantha Nageswaran, stated that sources of artificial intelligence like ChatGPT could have a positive impact on India’s employment and capacity for IT companies, enabling them to take on more projects. While there are concerns about the technology eventually leading to job losses, Nageswaran emphasized that it could increase productivity and create more job opportunities in the short-term. He believes that upskilling workers is key to making the most of new tools and innovations. Additionally, the Economic Survey projects a GDP growth of 6.5% in FY24, with capital investments and digital transformation contributing an additional 0.5-0.8%. Rural demand is beginning to pick up thanks to construction sector growth, MSP increase, and MNREGA demand. Despite geopolitical headwinds, the Indian corporate and banking sector is ready to expand and create employment. The CEA said that a hotel association recently told him that employment in hospitality has reached 4.5 crore post-pandemic, compared to 4 crores pre-pandemic and 2.9 crores during the pandemic.