Goldman Sachs: India Unlikely to Face Mass Unemployment Due to Artificial Intelligence

TechFlow reports, August 14, Goldman Sachs Group Chief India Economist Santanu Sengupta stated on Friday that India's workforce is unlikely to face massive unemployment due to artificial intelligence, but some positions in the service sector may be affected. Sengupta stated in an interview that compared to many other countries, the impact of artificial intelligence on India will be relatively limited. He stated: "The main reason lies in the large scale of India's workforce, with a large number of workers engaged in mechanical or physical labor."

He stated that the construction and retail sectors absorb about 40% of India's workforce, "currently basically will not be impacted by artificial intelligence, with the service sector being the main area affected." Goldman Sachs estimates that if artificial intelligence applications are implemented in an orderly manner, the impact is expected to be mitigated, while overall productivity may increase by 0.4 percentage points over the next decade. (Cailianshe)