Finance Ministry: There is often debate about the impact of Artificial Intelligence on jobs. Some people deny its threat to jobs while others call it a big problem for jobs. Even though layoffs are going on across the world from 2023, no company is ready to accept that AI is responsible for this. But, now the government has become alert about the danger of AI. The Finance Ministry has claimed that jobs are being lost due to AI. The Finance Ministry has become cautious about its impact. Also, there are preparations to keep a close watch on AI in future.
Jobs are at risk due to AI
Earlier, in the Economic Survey for the financial year 2023-24, it was warned that many people are losing their jobs due to AI. Now in the Monthly Economic Review of September it has also been said that jobs are at risk due to AI. There is a need to keep a close watch on this issue. AI is replacing employees in companies. According to the Economic Review, the labor market is currently stable. The unemployment rate has also stopped at 3.2 percent. Women’s participation in the country’s workforce has increased. It has been said in the report that EPFO data is also indicating towards increase in jobs.
Government and private sector will have to work together
However, many such reports have emerged that Artificial Intelligence is rapidly making its place in many companies. We have to keep a close eye on this trend. In the Economic Survey of July it was said that the advent of Artificial Intelligence will affect low skill, semi skilled and high skilled labour. AI will continuously create obstacles in front of jobs. To deal with this, the central government, state governments and private sector will have to work together in the coming times.
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