Infosys founder Narayana Murthy thinks that problem of poverty will not get solved by freebies but by job creation with innovation.
Murthy was speaking at the TiE Con Mumbai 2025 at Jio World Convention Centre, BKC with former Nasscom chairman Harish Mehta on March 12.
"You don't solve the problem of poverty by freebies, no country has managed to do that. Poverty will vanish when you create more jobs with your innovation," Murthy said.
On capitalism and socialism, Murthy said, compassionate capitalism is capitalism in mind but socialism at heart. "In a country like India which has embraced socialism for a long time, which is not possible. Compassionate capitalism sees employees as humans. In a country like India, where socialism existed for a long time, there will be skepticism towards capitalism," he added.
Murthy urges entrepreneurs to think of using AI in an assisted manner and how one can use AI to increase our revenue. "We will be responsible for the businesses, not the youngsters," he said.
On AI, Murthy said it has become a fashion to talk about AI in everything in India. He said, "unsupervised algorithms which use neural networks and machine learnings will have better chances of mimicking human capabilities. Most AI I am seeing right now are old programs," he said.
Also Read | 'Will take this to my grave': Narayana Murthy doesn't believe in work-life balance, defends 6-day workweek
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