Emerging technologies, for example, artificial intelligence (AI) and machine learning won’t render individuals jobless in the future, yet rather make more opportunities for people, Infosys NSE 1.61 % co-founder N R Narayana Murthy said here.
The famous IT Industrialist noted that technology gives a chance for individuals to move from drudgery to undertakings that require more human touch.
“AI certainly is a very important topical area of computer sciences. Artificial intelligence, machine learning, big data analytics, Internet of Things (IoT), these are all areas which are probably going to make the lives of individuals considerably more comfortable,” Murthy told.
Giving the example of the US, the UK, and Japan, which embraced technology at an opportune time, he noted that these nations have been able to reduce unemployment rates to single digits.
As indicated by a World Economic Forum (WEF) report, the rapid evolution of machines and algorithms in the work environment could make 133 million new jobs instead of 75 million that will be uprooted by 2022.
“On the off chance that you observe the economic history of this world over the last 50 years when PCs began playing a bigger role, you can understand that those nations that absorb technology more excitedly, have reduced their unemployment considerably more than those which did not embrace technology,” Murthy said.
Expelling the argument that innovation renders individuals unemployed he said that “it isn’t generally valid.”
“What innovation does is it gives a chance to individuals to move from drudgery tasks to tasks that require increasingly more human touch,” he included.
Murthy noted the automated teller machines (ATMs) are a great example of technology making human lives less demanding as they have removed “this entire drudgery of tellers” and brought the comfort of pulling back cash from a close-by machine whenever you need, and at any time.
“I am not a believer that innovation will render societies into a condition of even more elevated unemployment,” he said on the sidelines of the Infosys Prize ceremony on Saturday.