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
Fundamental picks by brokerage: These 3 largecap, 2 midcap stocks can give up to 28% return - Check targets
SBI Senior Citizen Latest FD Rates: What senior citizens can get on Rs 7 lakh, Rs 14 lakh, and Rs 21 lakh investments in Amrit Vrishti, 1-, 3-, and 5-year fixed deposits
Tamil Nadu Weather Alert: Chennai may receive heavy rains; IMD issues yellow & orange alerts in these districts
SIP+SWP: Rs 10,000 monthly SIP for 20 years, Rs 25 lakh lump sum investment, then Rs 2.15 lakh monthly income for 25 years; see expert calculations
Top 7 Mutual Funds With Highest Returns in 10 Years: Rs 10 lakh investment in No 1 scheme has turned into Rs 79,46,160 in 10 years
SIP vs PPF: How much corpus you can build in 15 years by investing Rs 1.5 lakh per year? Understand through calculations
Retirement Planning: Investment Rs 20 lakh, retirement corpus goal Rs 3.40 crore; know how you can achieve it
07:12 PM IST