AI to boost productivity, may lead to job cuts, says Chandra

Wednesday 05th June 2024 07:52 EDT

Tata Sons chairman N Chandrasekaran said even as AI will enhance productivity, it may also result in job losses. “It’s a mixed bag. We need to reskill and upskill to handle this change. While there will be job losses, AI will create jobs in data management,” Chandrasekaran, who is also TCS chairman, said at the company’s AGM held virtually. He was responding to a question from a shareholder.
Chandrasekaran said GenAI will have a significant impact on nearly every sector and country in future. “All industries will witness higher productivity. Enterprises have already invested in cloud, data infrastructure and large processing power which will aid AI/Gen AI. GenAI will not only improve productivity, but also create impact we hitherto have not seen or imagined.”
As companies explore the enterprise-grade adoption of GenAI, Chandrasekaran stressed on the importance of regulations to mitigate risks and safeguard against the negative consequences of AI. He said the Tata Group is executing 100 GenAI projects which are demonstrating tangible business impact on customer experience, productivity, and efficiency. TCS has upskilled 300,000 employees in GenAI.

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