Artificial Intelligence

ARTIFICIAL INTELLIGENCE



Is artificial intelligence creating jobs, hardly stealing ?

About 9 out of 10 Indian companies say artificial intelligence (AI) has created new jobs, according to a study report by IT services and consulting firm Capgemini.
The same report mentioned that every 6 out of 10 Indian companies have been implementing AI in their operations.

India has seen more than 20 per cent of such new roles in AI and digital technology being created at very senior level (C-suite), unlike other countries, noted the report.
All the Indian companies who have been surveyed said they expect AI to increase effectiveness at varied operational categories.

What is 'C-Suite'

C-Suite, or C-Level, is a widely-used slang term used to collectively refer to a corporation's most important senior executives. C-Suite gets its name from the titles of top senior executives which tend to start with the letter C, for chief, as in chief executive officer (CEO), chief financial officer (CFO), chief operating officer (COO), and chief information officer (CIO).

Interestingly, 8 per cent of the 86 companies surveyed in the country said that they witnessed job losses due to emergence of this new-age technology. Rest all have seen job creation through implementation of AI.

As much as 40 per cent of the job roles in AI are created at the managerial level in India across eight other nations.

AI has significantly improved operational efficiencies at companies across sectors such as banking, telecommunications, manufacturing, automotive, retail, insurance and utilities.
ICICI Bank, the Capgemini study noted, has deployed software robots in more than 200 business process functions across the organisation spread across functions such as:-
  1. Retail banking operations
  2. Agri-business
  3. Trade and foreign exchange
  4. Treasury
  5. Human resource management

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