Positive and Negative Aspects of AI
Positive
AI tools raised employee productivity by 14% and elevated customer satisfaction, which improved how customer care agents are treated and increased employee retention. According to experts, employees employing generative AI may not replace current workers, but those who do not upskill will be replaced.
To fully utilise AI’s productivity potential, business procedures must be changed and investments must be boosted.
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According to a PricewaterhouseCoopers (PwC) report, continued AI technical breakthroughs would cause the global GDP to rise by 14%, or $15.7 trillion, by 2030. Furthermore, generative AI alone might increase the global Economy by 7%, or nearly $7 trillion, over a ten-year period, according to a paper published in April 2023 by Goldman Sachs Research.
Negative
The first benefit that AI technologies offer is labour replacement. Automating monotonous jobs is possible with AI, and with generative AI, even creative work may be completed quickly and effectively.
The use of robots generally has a negative impact on workers, as it lowers employment, wages, and the labour share. Those with lower levels of education and blue-collar workers are the main groups impacted by these negative consequences.
According to The Guardian, AI might be quite disruptive since middle-class, white-collar employment are more likely to be replaced by it than lower-paying farm jobs with higher-paying manufacturing floor jobs were.
India’s Role
As the most populous nation, India should keep an eye out because any net negative effect on employment could have a negative influence on the economy. For the millions of Indians who labour in the sector, the adoption of AI in call centres and the software industry will not increase efficiency.
As a result of the new threats posed by AI, governments would need to tighten existing cyber rules. Many academics have recommended that governments should tax capital in order to balance the returns from capital and labour and lessen the consequences on distribution and displacement.
Positive and Negative Aspects of AI – GS Paper 3 – Science and Technology
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