Rise of AI in India: Digital world will still need investment in human capital, says study

New Delhi May 28, 2019, 01.55 PM(IST)

Image for representation. Photograph:( Reuters )

Story highlights

Artificial Intelligence is expected to double the rate of innovations in organisations by 2021 in India. 

A new Microsoft study, in collaboration with IDC Asia/Pacific, points toward a boom in Artificial Intelligence in India, as a result of which innovations and organisational productivity are likely to go up in the coming years. 

Artificial Intelligence is expected to double the rate of innovations in organisations by 2021 in India, the study said.

The research added that the rise of AI doesn't necessarily mean people will be out of work for the want of new technological skills, rather entrepreneurship and initiative-taking will be paramount to the effective implementation of AI.

"It does not necessarily mean an acute need for technological skills. The top future skills identified by business leaders include a very important soft skill needed to create new AI-led innovations – entrepreneurship and initiative taking," said Dr Rohini Srivathsa, National Technology Officer, Microsoft India whose findings were released and published on Microsoft's website. 

The research furthered that to adapt to the fast-paced and rapidly changing "digital-first" world, organisations will need to be "fast adopters of best-in-class technology, including AI". "The jobs of today will not be the jobs of tomorrow," it stated.

Digital talent will also need to be invested in. For all of this, an investment in human capital could not be discounted. "Business leaders must have the urgency to invest in workers’ training, as AI cannot progress without skilled individuals," the research stated.

However, the study noted that "there is a necessity for workers to reskill and upskill to remain relevant and play a part in the workforce of tomorrow". 

"Business leaders will need to drive cultural transformation within their organizations that values experimentation, agility, proactiveness and a growth mindset," the study read.

However, on surveying workers and business leaders, it was exhibited that they felt that "cultural traits and behaviours that contribute to AI adoption are not being demonstrated today".