AI and Jobs: Economic Survey 2024-25 Workforce Warning
Why in the news
The Economic Survey 2024-25 cautioned that AI-driven automation could hit employment and asked the state and private firms to prepare workers for the economic and social shock.
Key facts
- Both government and industry should bring in AI in a balanced manner to restrict job losses.
- If companies cannot cope without harming the economy, governments must provide safety nets for workers.
- Government, private sector and academia should work together so AI innovation serves inclusive and sustainable transformation.
- Stronger institutions can offer upskilling and mentorship to ready workers for the shifting job market.
- Policymakers should stress transparency and accountability in AI to check bias and gain social acceptance.
Job-loss estimates
| Agency | Estimate |
|---|---|
| International Labour Organization | 75 million jobs at risk worldwide from automation |
| Goldman Sachs | 300 million jobs open to AI-driven automation |
| McKinsey | 30% of today’s work hours automatable by generative AI by 2030 |
Gender and the digital economy
- The digital economy can help women close gaps in education access, job opportunities and social bias.
- Flexible remote work and digital jobs can raise financial independence and empowerment of women in developing countries.
Concerns and way forward
- Apply AI cautiously, keep worker flexibility and have new jobs and roles ready.
- Guiding AI is not the same as blocking innovation; the aim is benefit to society without harmful side effects.
- India still has time to build institutions that handle investment shifts, education changes and labour quality.
- Large language models score well on benchmarks but their real-world use is weaker, for example in self-driving vehicles.
Exam angle
- Document: Economic Survey 2024-25 and its stand on AI and employment.
- Numbers to recall: 75 million (ILO), 300 million (Goldman Sachs), 30% by 2030 (McKinsey).
- Policy idea: safety nets plus upskilling rather than overregulation.