Economic survey admitted that employment is under threat...?

There have been warnings about the threat of employment on a large scale due to Artificial Intelligence all over the world. Now the Economic survey presented in parliament also expressed concern about the impact of AI. The Economic survey prepared by the Department of Economic Affairs of the Ministry of Finance has been presented in parliament by Finance minister Nirmala Sitharaman. In the survey, concern has been expressed about the impact of Artificial Intelligence on all types of workers after its invention.

The survey clearly states that AI can become the biggest obstacle in the way of India's high growth rate in the coming years and decades. The survey suggests that to deal with this, the government of India, the State government and the private sector will have to work in partnership.

Corporate responsibility increased after the advent of AI

The Economic survey quoted an independent research article in The Economist magazine and said that in the next decade, India's services exports may gradually move towards extinction. business process outsourcing got a boost due to the telecommunication and internet boom, but the next round of changes coming at the technology level may stop it. According to the Economic survey, the corporate sector has a big responsibility towards the society in all this. It will have to think about how artificial intelligence will promote labor and not eliminate it. According to the survey, hiring in the IT sector has decreased in the last two years.

Danger of inequality created by AI

According to the Economic survey, artificial intelligence is the last need of the economy of low or middle income countries. The survey also quoted a note from the international Monetary Fund and said that according to the IMF note, there is a danger of inequality along with the crisis of employment due to generative artificial intelligence. The IMF's stock discussion note advocates higher taxes on corporate profits and higher personal income taxes and taxes on capital gains, along with better control over capital through automatic information exchange between countries.