Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
2-min read

Fear of Job Losses Misplaced; New Age Tech to Create More Employment: Ravi Shankar Prasad

IT ministry is working with other departments like Niti Aayog on various aspects of these advanced technologies, and is also engaged with software body Nasscom on skill development initiatives.

PTI

Updated:June 3, 2018, 11:37 AM IST
facebookTwitterskypewhatsapp
Fear of Job Losses Misplaced; New Age Tech to Create More Employment: Ravi Shankar Prasad
File photo of Union minister Ravi Shankar Prasad.
Loading...

New Delhi: Advanced technologies like AI will spawn new jobs and fears around job losses are misplaced, IT Minister Ravi Shankar Prasad has said, while admitting that India Inc needs to play a larger role in the efforts to upskill people.

"Remember, technology by its very nature requires skilling and I see potential for digital skilling in a big way which, by itself, will create a lot of jobs," Prasad told PTI.

He said IT ministry is working with other departments like Niti Aayog on various aspects of these advanced technologies, and is also engaged with software body Nasscom on skill development initiatives.

"We are working with Nasscom...Also, I have already set up several committees to examine the whole matter.

Artificial Intelligence (AI) should be used for governance...for improvement. We are working quite closely with other departments like Niti Aayog," he explained.

Asked if the corporate India needed to put more efforts in this area, the minister said: "There is a scope for that. Nasscom is doing that but there is a need to do more".

He dismissed concerns that technology may displace jobs, but added that it is important for people to upskill to keep pace with changing requirements in the digital world.

"If a person is not up to date in new technology, then he may have a problem. You have to be tuned to the new technology," the minister said in a recent interview.

He noted that 39.8 lakh people are working directly in IT sector, while indirectly the sector employed about 1.3 crore people.

Additionally, 10 lakh people are involved in Common Service Centre (CSC) - which acts as access point for delivery of electronic governance services - while 4.5 lakh people are involved in mobile manufacturing activities in the country, he added.

"All these numbers are excluding the startup and entrepreneurship movement. When a new technology comes, new skilling comes in, it is going to bring more and more jobs, be very clear about this," he said.

The comments come amid reports of layoffs across various IT companies and apprehensions that increasing automation across sectors could make existing jobs redundant.

Nasscom had refuted such reports saying the IT industry continues to hire people on "net" basis although techies will have to reskill themselves to stay relevant.

IT companies, on their part, too had defended their position saying trimming of workforce is a part of annual performance reviews, a process that weeds out bottom performers or non-performers.

Nasscom had argued that tech startups, e-commerce, Digital India and digital payments are creating new opportunities for growth. As many as three million new jobs are expected to be created in the sector by 2025, as per industry estimates.

A poll conducted by EY recently found that while business leaders are optimistic about the impact of AI on job creation, talent crisis remains.

"AI is creating jobs, yet 80 per cent of respondents say there is a lack of talent to fill positions," EY had said.

The IT sector is also battling challenges in business environment and stricter work permit regime in countries like the US, Singapore, Australia and New Zealand.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: Huma Tabassum
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
SBI 277.25 2.27
Yes Bank 62.10 4.81
HDFC Bank 2,227.35 2.99
Indiabulls Hsg 485.00 3.67
HDFC 2,120.10 3.74
Company Price Change %Gain
Yes Bank 62.20 4.98
SBI 278.00 2.55
Indiabulls Hsg 484.40 3.53
Bharti Infratel 245.40 -0.67
Maruti Suzuki 6,260.75 0.09
Top Gainers
Company Price Change %Gain
Yes Bank 62.05 4.73
HDFC 2,119.80 3.72
Bajaj Finance 3,279.00 3.30
Adani Ports 366.75 4.98
Bajaj Finserv 7,096.35 3.08
Company Price Change %Gain
Yes Bank 62.05 4.73
HDFC 2,120.00 3.86
Larsen 1,322.75 2.78
Bajaj Finance 3,250.95 2.38
HDFC Bank 2,228.45 3.01
Top Losers
Company Price Change %Gain
JSW Steel 212.80 -3.56
Tata Steel 334.55 -3.10
Vedanta 133.70 -2.69
Hero Motocorp 2,575.05 -2.47
Hindalco 175.60 -2.58
Company Price Change %Gain
Tata Steel 334.50 -2.99
Vedanta 133.15 -3.16
Hero Motocorp 2,575.40 -2.46
Sun Pharma 418.90 -2.06
Coal India 184.05 -2.13

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results