GenAI may add USD 1.2-1.5 tn to India’s GDP in next 7 years, ET Auto

[ad_1]

<p>In a digital world where talent can rise from anywhere, access to digital skills would be a game changer - a gateway to more equal opportunities for millions while unlocking India's demographic dividend.</p>
In a digital world where talent can rise from anywhere, access to digital skills would be a game changer – a gateway to more equal opportunities for millions while unlocking India’s demographic dividend.

Generative AI is poised to usher in a new wave of innovation and productivity for India. An EY report estimates that GenAI could add USD 1.2-1.5 trillion to India’s GDP in the next 7 years, with education and upskilling as critical drivers. In a digital world where talent can rise from anywhere, access to digital skills would be a game changer – a gateway to more equal opportunities for millions while unlocking India’s demographic dividend. Upskilling the workforce to enhance productivity

A report by BCG finds GenAI is a top three priority for 89% of CEOs. However, the majority grapple with a shortage of talent and skills. What sets the winners apart is that they are “upskilling systematically”. Structured, role-based learning pathways that empower all employees will be necessary to maximise the full potential of AI within organisations. In India, companies like L&T have taken an early lead in building foundational digital literacy by launching Coursera’s GenAI Academy for their entire workforce.

With high-quality learning content from the world’s best experts available online, organisations can balance AI’s transformative potential against inherent risks like bias and misinformation – adopting GenAI quickly and safely. Like they say in F1, “To go fast, you need good brakes.” You also need a skilled driver.

Pathways to new opportunities

India can be the source of human capital for the world over the next decade. A digitally-skilled workforce would position it to become the hub for AI talent. Last year, every 3 minutes, someone in India enrolled in a GenAI course on Coursera. Private-public partnerships can harness this potential by creating learning and career pathways for emerging digital jobs that can be performed anywhere in India – from Kerala to Mizoram, the Andaman Islands to Kashmir.

Industry micro-credentials rapidly prepare Indians with in-demand digital skills. Under India’s expanding skill ecosystem, credits for online and blended learning could scale such skills without location barriers – IIT Guwahati’s online BSc (Honors) in Data Science & Artificial Intelligence on Coursera will now recognise industry micro-credentials from leaders like Google and IBM, allowing students to build on prior learning.

Personalised learning experiences for everyone

GenAI is the answer to its own disruption, levelling the playing field and transforming threats into opportunities. Students in rural India now have a virtual coach with conversational abilities, explaining concepts in their language. Indians are able to learn digital skills in local languages – with AI breaking down language barriers, learners here can now access over 4,000 courses in Hindi on Coursera.

This is just the beginning. By embracing AI-enhanced learning and developing an AI-skilled talent pool, India can harness GenAI’s potential to empower every citizen and accelerate towards a USD 5 trillion economy.

  • Published On Feb 6, 2024 at 04:23 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETAuto App

  • Get Realtime updates
  • Save your favourite articles


Scan to download App


[ad_2]

Leave a Reply

Your email address will not be published. Required fields are marked *