Generative AI could impact 1% of IT jobs in India: Report

Generative AI has become more than just a buzz word in the tech industry. Its ability to generate content in various forms through user-friendly interface has led to multiple company's adopting the technology in new applications.

However, there is a major threat that Generative AI will replace jobs across the IT sector. The Economic Times (ET) recently reported that Generative AI will affect around one per cent of India's 5.4 million IT employees, citing a study by UnearthInsight. However, the report also quoted a study showing its protentional to create additional revenue of $2-3 billion in the IT sector.

AI Impact on IT jobs in India

According to the report (via Business Standard), there are currently around 300,000 employees working in sales and support roles in the $245-billion tech services industry. However, around 50,000 employees' work may be impacted by AI technology in the next three to five years.

Additionally, jobs in the finance departments of firms including financial analysis, modelling, and forecasting could also be impacted by Generative AI. One of the key advantages of AI is its ability to process large amounts of data quickly and creating possible scenarios and regulation reports, the report mentions.

Generative AI could improve the way we work

The study also notes that expansion of AI usage may not necessarily translate to job losses but could change the way certain parts of these jobs are performed. Founder and CEO of UnearthInsight, Gaurav Vasu told ET that it isn't like employees will be replaced outright.

He added, "Google and OpenAI (the company that created ChatGPT) themselves say it will create additional jobs. There will be demand for new roles like prompt engineers and system consultants." Vasu said that the fear around AI is similar to what was seen in the 80s when computers were first introduced.

However, several concerns have been raised over the use of Generative AI in certain sectors. Additionally, the use of Generative AI also comes with legal risks, including intellectual property infringement. Educators have also raised risks of plagiarism from ChatGPT. And then there's the lack of job security for employees who work in shaping and growing companies.