Notwithstanding the “robodog” goof-up by Galgotias University at the AI Impact Summit or the “shirtless” demonstration by some misguided youths, the conference was successful in raising awareness of AI amongst young Indians. The fact that 91 countries and international organisations have endorsed the Delhi Declaration for the use of AI for the global good, sarvajana hitaya and sarvajana sukhaya (welfare for all and happiness for all), speaks to its success.

Three fundamental issues were discussed with much interest and concern: Will AI lead to faster growth? Will it create more jobs or take away jobs? Will its benefits be equally distributed?

The majority of answers to the first question were positive — there is no doubt that it will accelerate overall development. Many have said that humanity is likely to leapfrog in its evolution of knowledge, efficiency and growth. It is a moment in history with an inflection point, a hockey stick situation. Over the next decade, there is likely to be explosive growth in AI, which will disrupt the functioning of nearly all sectors. Call it the “process of creative destruction”, based on the work of Joseph Schumpeter (1942). Those who want to remain in the business-as-usual mode risk being left far behind. Very soon, AI will be used across the globe the way the internet is being used today, raising productivity and saving time.

But the biggest debate about AI is if the “process of creative destruction” will lead to massive job losses.........

© Indian Express