Economic Survey: Huge Pall Of Uncertainty Wrt AI’s Impact On Skilled Workers

New Delhi: The Economic Survey 2023-24, an annual document presented by the government ahead of the Union Budget to review the state of the economy, was presented in Parliament today, with findings on AI’s impact on skilled workforce.

The Survey said that AI (Artificial Intelligence) casts huge pall of uncertainty with regard to impact on workers across all skill levels.

On AI the survey added as artificial intelligence becomes more prevalent in various economic activities, steering technological choices towards collective welfare is crucial. Employers must balance deploying technology and labour. It suggests that agro-processing and the care economy are promising sectors for generating and sustaining quality employment.

The increase in candidates undergoing skill development through the Government's flagship programs has highlighted the emphasis on 'Skill India.' However, regulatory obstacles such as land use restrictions, building codes, and limits on sectors and hours for women's employment hinder job creation. Removing these barriers is essential to boost employment and raise women's labour force participation rate.