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News on Medial
AI casts huge pall of uncertainty over impact on workers across skill levels: Economic Survey
YourStory
·
1y ago
Medial
The Economic Survey highlighted the uncertainty surrounding the impact of Artificial Intelligence (AI) on workers of all skill levels. While recognizing the potential for AI to boost productivity and revolutionize the global economy, the survey also expressed caution about the disruption it may cause in certain sectors. Routine tasks, customer service, creative sectors, education, and healthcare are identified as areas where AI may bring about significant changes. The survey emphasized that AI's rapid pace of innovation and ease of diffusion will reshape the future of work.
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Digital economy drives job growth across sectors; gig workforce to reach 23.5 crore by 2030: Economic Survey
Economic Times
·
6m ago
Medial
India's digital economy is significantly expanding job opportunities across various sectors, from transportation to home services, with platforms offering flexible employment. Quick commerce, notably 10-minute grocery deliveries, has surged, employing many gig workers. The Economic Survey 2024-25 highlights rapid job growth through hyperlocal services, estimating the gig workforce to reach 23.5 crore by 2030. Enhancing social security for gig workers, the government aims to address challenges like automation's impact on labor.
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Cheap AI Tools May Come at a Bigger Long-Term Cost
Wired
·
1m ago
Medial
AI tools are becoming significantly cheaper compared to human labor, raising concerns about the elimination of entry-level jobs critical for skill development. AI entrepreneur Luke Arrigoni worries the low cost of AI incentivizes companies to forgo hiring inexperienced workers, potentially undermining career growth. Despite the current stable internship levels, future AI advancements could exacerbate job displacement. The debate surfaces on whether increasing AI costs or offering more affordable entry points for junior workers can mitigate these impacts.
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Two-thirds of Americans say AI could do their job
Medial
·
1y ago
Medial
A recent survey by Spokeo found that 66.6% of American workers believe that AI could do their jobs, while 74.8% express concerns about the impact of AI on their industry. However, the survey also revealed that respondents are optimistic about the future of work with AI, as 78.1% believe it could reduce job-related stresses and 76.7% think it will lead to fewer working days. The majority of surveyed workers (79.1%) believe employers should offer training for AI tools like ChatGPT.
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Karnataka govt launches AI workforce impact study to guide new IT policy 2025
Economic Times
·
1m ago
Medial
The Karnataka government has initiated a study to evaluate AI's impact on its workforce, informing the forthcoming IT Policy 2025 and the NIPUNA Karnataka skilling initiative. Led by the Department of Electronics, IT, and Biotechnology, the initiative aims to ensure inclusive growth as AI transforms industries. Bengaluru, a global AI leader, emphasizes evidence-based policymaking. The AI Workforce Impact Survey seeks insights on AI integration, identifying skill gaps and job role changes to guide strategic workforce policies.
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50% of government, public services organisations are poised to implement first gen AI solution in one year: EY
Thehindubusinessline
·
1y ago
Medial
According to a survey by EY, almost half of the government and public service organisations (GPS) in India plan to implement their first generative artificial intelligence (Gen AI) solution within the next year. Gen AI solutions are expected to have a significant impact on various government functions, such as data-driven decision making and citizen engagement. The survey also found that 61% of GPS organisations believe Gen AI will enhance citizen experience and 67% believe it will drive innovation. Challenges identified include data privacy, skill gaps, and lack of clear use cases.
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A comprehensive list of 2025 tech layoffs | TechCrunch
TechCrunch
·
2m ago
Medial
In 2025, tech layoffs continue, with over 150,000 job cuts across 549 companies last year and 22,000 more this year. Major firms like Amazon, Microsoft, Meta, and Intel reduced their workforce significantly. Reasons include cost-cutting, efficiency improvements, AI adoption, and economic uncertainty. Affected sectors span cloud services, cybersecurity, edtech, and more, highlighting the human impact amid rapid technological advancements. This trend is tracked to assess its effect on innovation and the industry landscape.
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800 India customers using Microsoft's AI platform, says president Puneet Chandok
Economic Times
·
5m ago
Medial
Over 800 Microsoft customers in India utilize its Azure OpenAI platform for AI applications, enhancing productivity, win rates, and resolution speed, as noted by Puneet Chandok. Speaking at CII’s AI conference, he stressed India's goal to become an AI-first nation. A CII-Protiviti survey highlighted growing AI adoption, challenges like governance, ethics, and skills shortage. Experts discussed sectoral AI regulations and strategies for skill development, emphasizing AI’s transformative potential across industries.
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Fintech the cornerstone to help India achieve financial inclusion: Economic Survey 2023-24
Economic Times
·
1y ago
Medial
The Indian government aims to promote data-based lending to support small businesses and economic growth, according to the Economic Survey for 2023-24. It also plans to develop a centralized KYC mechanism to standardize customer identification across financial services sectors. The survey highlights India's position as the third largest fintech market globally and acknowledges the potential of disruptive technologies like AI/ML, decentralized finance, and IoT in the digital payments ecosystem. The government aims to reduce the cost of financial intermediation to drive financial inclusion and has leveraged technology through initiatives like DBT payments, UPI, and Aadhaar to achieve this. The survey emphasizes that digital payment adoption can accelerate economic growth by 2.2%.
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As employee confidence in AI's potential grows, so does their anxiety
Business Insider
·
1y ago
Medial
According to a report by Boston Consulting Group, workers' confidence in generative AI has increased by 16% over the past year. However, their anxiety about the technology has also increased by 5%. The survey found that frontline workers were the most worried about the impact of AI on their jobs. There is a knowledge gap between executives and employees, with fewer frontline workers reporting being trained on AI. Companies are trying to address this gap by offering upskilling programs to help employees incorporate AI into their work. The concern is that AI may create a divide between those who know how to use it and those who don't, potentially leading to job loss for the latter group.
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84% Indian CEOs keen on investing in GenAI: report
Economic Times
·
1y ago
Medial
According to a survey by EY, 84% of Indian CEOs are interested in investing in generative AI programs. However, they struggle with the rapid pace of progress and regulatory restrictions. CEOs also express concern about the impact AI will have on the workforce and the difficulty in identifying credible ecosystem partnerships. Despite these challenges, 86% of CEOs are hiring new talent with relevant AI skill sets and establishing pilots and partnerships. They believe that integrating GenAI will enhance their capabilities as effective leaders.
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