Ola Cabs CEO says India should lead in adopting AI technology with open arms
Technology trends like AI are so disruptive. While one can think that it (the adoption of AI) threatens jobs, "I see it as a massive technology tool for increasing productivity", Bhavish Aggarwal said.
Ola Cabs co-founder and Chief Executive Officer Bhavish Aggarwal on Saturaday said Artificial Intelligence (AI) is a massive technology tool for increasing productivity and India should take a lead in adopting such technologies.
Speaking at the ABP Network's Idea of India Summit here, Aggarwal also discounted the notion that embracing such technology would result in job losses.
Technology trends like AI are so disruptive. While one can think that it (the adoption of AI) threatens jobs, "I see it as a massive technology tool for increasing productivity", he said.
"And we in India, as an economy and as stakeholders of the economy, should all adopt AI with open arms," Aggarwal said.
Also Read: BMW R nineT 100 Years in Pics: 6 key features of newly launched limited edition
He emphasised that the use of this technology could enhance productivity by 10 times, he said, "We should be the first adopter of AI and become the most productive in the world."
It will have a significant impact on economic growth, he asserted.
Noting that software development will be the first sector to be impacted positively by the use of Artificial Intelligence, Aggarwal said that with 10 times higher productivity, a developer can write code in a day for which he would otherwise take a month.
According to him, the application of AI would result in the creation of new jobs as it did happen at the time when computer technology was introduced in India.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
07:12 PM IST