Hyderabad (Telangana) [India], November 4 (ANI): Chairman of the FICCI Telangana State Council, V V Rama Raju, on Wednesday said that concerns surrounding the impact of artificial intelligence (AI) on employment could be addressed through technological advancements and continuous upskilling of the younger workforce.
Speaking on the sidelines of the FICCI@100 celebrations and Telangana Deep-Tech Leadership Summit in Hyderabad, Rama Raju said that AI was still in its initial stages of development and understanding, but expressed confidence that technological progress would create alternative employment opportunities.
"As far as AI is concerned, we are still in the initial stages of understanding its impact, and to some extent, it may be a cause for concern. However, I believe these concerns will be addressed through advancements in technology, particularly as young people continue to upgrade their skills. Both the state and central governments are placing considerable emphasis on upskilling the younger workforce. Therefore, I don't think there is much reason to worry. Employment will continue to be important, but I believe people will find alternative opportunities through advancements in technology and engineering," Raju told ANI.
Meanwhile, former FICCI President Dr Sangita Reddy highlighted the significance of the organisation's centenary celebrations, saying that the entire year was being dedicated to recognising the role of industry in nation-building.
Speaking to ANI, she said, "Today, as FICCI celebrates 100 years, the entire year is being dedicated to highlighting the importance of industry in nation-building. FICCI was founded in 1927, and to mark this milestone, a very important Deep Tech Summit is being held here in Telangana. The Deputy Chief Minister and the IT Minister have joined us for this occasion. Important deliberations are taking place on the aspirations of our country, including how India can achieve a $30 trillion economy and how Telangana can contribute 10% of that target...The significance of this goal is not just the numbers but also the fact that every individual could have an income of $18,000...FICCI is highlighting the fact that India is a safe and stable economy. There are multiple wars taking place across the world. However, thanks to the stability provided by our Prime Minister and the dynamic leadership of our Chief Minister in Telangana, this state has a promising future."
Telangana State Minister D Sridhar Babu said that the Deep-Tech Summit would provide valuable inputs for the formulation of policies aimed at addressing future technological developments.
"This Deep Tech Summit will help us formulate forward-looking policies with valuable inputs," he said.
Telangana Deputy Chief Minister Mallu Bhatti Vikramarka also congratulated FICCI on completing 100 years and appreciated its contribution to wealth creation and the growth of Indian industry.
"I congratulate them. I wish them all the success. FICCI's contribution to wealth creation and guiding Indian industry is very big and I appreciate their contribution to the growth of this country. I wish them all the best," he said. (ANI)
‘No reason to worry’: FICCI Telangana Chief says tech evolution will create alternative jobs amid AI concerns
