Finance Minister Nirmala Sitharaman on Friday said job requirements are changing due to the introduction of artificial intelligence, which has now become an important factor in the job market. She said the global economic slowdown had affected employment in the country, but jobs were created in low- and mid-range positions.
In an exclusive interview Network 18 Group Editor-in-Chief Rahul Joshi Sitharaman said the global economic slowdown and the introduction of artificial intelligence have impacted employment.
“Job requirements are also changing because of the way artificial intelligence is developing. People with old skills are expected to have new skills for tasks that didn’t exist until now, so a lot of calibration is needed to understand this,” she said .
When asked about job creation indicators such as weak campus recruitment and falling wages, the finance minister asked: “Why are we only focusing on indicators like college recruitment? Yes, IIMs etc. are important, but mid- to low-end jobs are being created along with new companies It’s also starting to take shape.”
She said it was important to recognize that employment patterns had shifted due to factors such as immigration and working from home. “Let us recognize that migrants are now seeking to redefine themselves in some way. Many who have returned to their villages and acquired some skills wonder if they can continue there and use the skills they acquired and benefit from them. Various industries are also allowing many people to work from home, and many people who are avoiding travel are staying at home. Therefore, this shift must be recognized,” she said.
“But that’s not to say that people stay at home and don’t work, or stay at home and work while big companies are established elsewhere,” the minister added.
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