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AI like ChatGPT will increase employment opportunities in IT sector, economy will also benefit
ChatGPT: India's Chief Economic Advisor V Ananth Nageswaran talked about ChatGPT and how AI can play an important role in the development of the country. ChatGPT will help in increasing the efficiency of the IT sector.
India's Chief Economic Advisor V Ananth Nageswaran at the India Chambers of Commerce in Kolkata described ChatGPT as important for Dash. In this program, he said that due to this there can be an increase in employment. Due to Artificial Intelligence like ChatGPT, the efficiency of IT companies will increase. This can prove beneficial for a developing country like India. With this technology, more projects can be started in India. This will provide employment to many people.
Artificial Intelligence like ChatGPT can prove to be very beneficial for the speed of development. Chatjapata may generate employment in the initial period, but later it may affect the employment.
ChatGPT can also affect employment. In such a situation it is a matter of concern. ChatGPT is very important for the development of India at this time. If ChatGPT increases employment in the country, the company will hire people for its projects. With the introduction of AI, people's income will also increase. ChatGPT will help in increasing the efficiency of the I-T sector. Nageswaran said that although AI is a multi-pronged approach, we still need to limit the negative effects of AI.
The Economic Survey has estimated an increase of 6.5 percent in the GDP rate in FY2024. On India's GDP, Nageswaran said capital investment and digital transformation would contribute to an additional 0.5-0.8 percent growth in India's GDP. Due to this, India's GDP will be close to 7 percent in FY24.
On India's GDP, he said investment and consumer momentum would weigh down growth prospects in the coming years. Expansion of public digital platforms and PM Gati Shakti, Logistics Policy, and PLI schemes will boost manufacturing output.
The Indian corporate and banking sectors are creating new jobs. Banks have enough capital to lend. Due to India's strong balance sheet, investment activities are increasing. An increase in the import of capital goods is a good sign.
He told that after Kovid, employment in hospitality has increased to 4.5 crores. This is a very good thing. The CEA said the overall unemployment rate currently stands at 6.8 percent, compared to 20 percent during the pandemic. India's GDP in FY23 is 7.2 percent which is more than expected.
