Microsoft chief executive officer Satya Nadella said policy and tools are available to manage the transition to artificial intelligence (AI) in a net positive way even for a country like India, while responding to a question on the feared job losses due to the technology.
“If there is one sector that's getting good and more efficient, some of the labour force in that sector will disperse more broadly,” Nadella told CNBC-TV18 at the company’s “CEO Connection” event in Mumbai.
Nadella reached Mumbai earlier in the day on a two-day visit, an annual ritual, with the theme for 2024 set as AI and opportunities arising out of it. He is expected in Bengaluru on February 8.
However, he said job displacement is a given whenever any new technology comes into play. “But, I also am very optimistic that we even have both the policy tools and the actual tools to help us manage this transition,” the Microsoft CEO said.
He added that the labour markets are “just ready” for software development. “There is a need for more software developers all over the economy, not just in the tech sector,” Nadella further pointed out.
An advantage of this generation of AI is that it reduces the learning curve comparatively, he said. “So even for somebody displaced mid-career, you can pick up new skills faster, easier."
The Indian-origin CEO also said AI is changing economic productivity, adding that he has not seen a general-purpose technology like AI that can have such a broad impact.
He said if the previous era was about “information at your fingertips”, this AI era is “expertise at your fingertips” in fields such as retail and healthcare.
According to Nadella, wages may improve as more expert work is being done by non-experts. “They may have domain expertise but they may not have all the knowledge and so therefore, I think that they could even be better wage-supported new jobs,” he said.
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