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Chief Economic Advisor V Anantha Nageswaran highlighted the dual impact of artificial intelligence (AI) on the labor market during his address at the All India Management Association. He emphasized that while AI can enhance human labor, it also poses significant risks of job displacement. Nageswaran urged the government to adopt balanced policies that promote labor-intensive industries to mitigate unemployment and societal upheaval.
Nageswaran cautioned that AI's rapid advancement could lead to long-term challenges, particularly due to short-term job disruptions. He advocated for learning from the experiences of developed nations to avoid similar workforce challenges in India. As AI technology evolves, thoughtful policy-making is essential to ensure a sustainable and inclusive labor market.
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