Artificial Intelligence (AI) brings mixed emotions and opinions when referenced in the context of jobs. But a look at the history of technology shows that technology created more jobs than it killed. In this context, a survey was recently conducted to assess the size and scope of the impact of AI on businesses, including shifts in the quantum and nature of employment and human capital development. This study by Intel India and ISB will help drive future research to meaningfully inform policymakers and the industry about the impact of AI and machine learning (ML).
A key finding from the ‘AI and Future of Work’ survey is that firms that have projects with high suitability for ML are expected to receive investments that are broader in scope and quantum. These projects are also expected to see high growth in investments over the next five years. The survey indicates growth in workforce hiring and re-training over the next two years.
The findings of the report are based on two surveys—the ‘Suitability of Machine Learning (SML)’ survey among 3,099 employees across 106 Indian occupations designed to measure the suitability for ML for each occupation, and the ‘AI and Future of Work’ survey of 301 firms across Indian sectors that have adopted AI/ML in their workflows.
Nivruti Rai, country head, Intel India, and vice president, Data Platforms Group, Intel Corp said, “AI is one of the leading cutting-edge technologies of our era to generate value for humanity at scale. Over 90% of respondents to the survey indicated that AI is essential or highly relevant to their business. Over 80% said that their workforce will undergo significant re-skilling due to AI implementations over the next two years.”
The survey, conducted over a period of three months with 301 firms in India that have adopted AI/ML in their workflows, captures information related to their AI/ML initiatives, and their broad impacts on innovation, productivity, and worker behaviour, including the organisational mechanisms underlying such impacts. Some key findings include:
- Over 90% respondents consider AI to be essential or highly relevant to their business
- More than 70% find shifts in competence acquisition with the advent of AI
- Over 70% across various firm categories expect their headcount to increase in response to AI over the next two years
- At least 70% have indicated the growth of all firm-level initiatives to support AI adoption.
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