After all, how will Generative AI transform the Indian economy? Crores of jobs are going to change by 2030

Tech News Desk – In the last few years, Artificial Intelligence has gained a strong hold. It is used in almost every sector. Recently a report by EY India has revealed that the use of Generative Artificial Intelligence (GenAI) will change 3.8 crore jobs in India by 2030. This change is expected to increase productivity by 2.61 percent in the organized sector and 2.82 percent in the unorganized sector.

Impact of AI in Industry
According to the report, 24 percent of tasks across various industries can be completely automated, while 42 percent of tasks can be improved by AI. This will save 8-10 hours per week for knowledge-intensive employees. Rajeev Memani, Chairman and CEO, EY India, said this revolution will completely transform jobs, leading to increased productivity and innovation. To make the most of this transformation, organizations need to prioritize skill development and building a talent pipeline.

Benefits of Generative AI
The report also said that the services sector is expected to see the greatest productivity growth, as it accounts for a large share of labor in total output. At the same time, its impact in the construction and manufacturing sector will be comparatively less.
AI has the potential to improve productivity by up to 80 percent in some major industries, including call center management. At the same time, AI will contribute to 61 percent increase in software development, 45 percent improvement in content development and distribution, 44 percent increase in customer services, 41 percent improvement in sales and marketing, IT, health and financial services.
Productivity in the IT and ITES sector is expected to increase by 19 percent. This improvement can be recorded up to 13 percent in the healthcare sector and up to 8-9 percent in the banking and insurance sector.

Preparation to adopt AI in India
However, according to the report, the level of AI adoption in India is still in its early stages. Only 15 percent of companies have implemented it in production, while 34 percent have completed proofs of concept (POC). 11 percent of the companies are in the process of successfully converting POC to production. Indian companies are also at different levels in terms of data preparedness. Only 3 percent of companies reported that they were fully prepared, while 23 percent said that they were not at all capable of data preparedness to implement AI.

India will become AI skill center
The report suggests that collaboration between the public and private sector and investment in talent development can make India a global hub for AI-trained talent. Generative AI will not only change the nature of jobs in the digital age but will also open up new dimensions in innovation and productivity. However, to implement this change smoothly, it is imperative for organizations to train employees on new technologies and adopt AI-powered processes.