Raghuram Rajam, Former Governor of Reserve Bank of India stated on Friday that the country should encourage its workforce to step out of the agricultural sector to move into the industry and services as the latter will provide the population with higher income.
“We have to try and give people the ability to move out of agriculture into industry and services, where income is much higher. We need to figure out ways to do this,” Rajan said here.
He added that the populace should not be afraid of machines replacing humans because society has always found ways of adapting to industrialization and mechanization which worked well in the past.
“Two hundred years since the industrial revolution, jobs are still around. People and society adapt to do the things that machines cannot do,” he said.
“What jobs will humans be able to do in 10-15 years that are immune from threat? Jobs that require high intelligence and creativity; jobs that require human empathy and jobs where human working for us bolster our status in some way,” he further pointed out
However, the former RBI Governor did share his worries that Artificial Intelligence will take up jobs, both skilled and unskilled in his speech at #FUTURE Global Digital Summit organised by the Kerala government.
Rajan also expressed his wish to see India focusing on creating good jobs for its citizens especially since job statics are not very good in India, according to him.
The current Professor of Finance at the University of Chicago, Booth School of Business, confidently stated that India will lose less jobs. “Many don’t have the cushy jobs, which are threatened. But that is an opportunity. Change is happening and the change will threaten job. We need to make people capable of adapting.”
The #future global digital summit was an initiative that regrouped hundreds of delegates, entrepreneurs, startup founders and CEOs who participated in a discussion panel, which aimed at finding ways to transform Kerala’s digital development, while the city is already India’s state with the highest internet penetration.
The Chief Minister of the state, Pinaravi Vijayan swore to carry forward with digital technology development as a way to close the gap between the poor and the rich during the event’s inaugural speech.