Goldman Sachs predicts AI unlikely to cause mass unemployment in India

Santanu Sengupta, Goldman Sachs' chief economist for India, stated that artificial intelligence is unlikely to trigger widespread unemployment in the country, although certain service sector positions face pressure. Sengupta noted that compared to many other nations, the employment impact in India will be relatively limited, primarily because India's workforce is very large and a considerable proportion works in manual or physical labor occupations. According to Goldman Sachs estimates, if AI implementation is managed appropriately, productivity gains over the next 10 years could outweigh potential job losses. Specific sectors such as finance, healthcare, education, and business services have potential to benefit from AI application. The risk of job displacement concentrates mainly in sectors such as postal services, telecommunications, and IT services, with call centers particularly vulnerable.