AI to boost IT sector, not threaten jobs: Infosys co-founder
MUMBAI, INDIA — Kris Gopalakrishnan, co-founder of Infosys and Chairman of Axilor Ventures, maintains a positive outlook on the IT industry’s future despite the rise of artificial intelligence (AI).
Speaking with Moneycontrol during the Global Fintech Fest (GFF) in Mumbai, Gopalakrishnan emphasized that AI is a technological wave that will enhance the IT sector’s growth without significantly affecting job opportunities.
“Every wave of technology has grown the IT industry. AI is one such wave,” he stated
Resilient IT industry poised for growth
Gopalakrishnan highlighted the Indian IT industry’s resilience, predicting a growth rate of 5-15% depending on global economic conditions.
He also noted that the industry has consistently adapted to technological shifts, such as the internet and mobile phones, contributing to its current $250-billion valuation.
“The industry is a reflection of the global economy,” he remarked, suggesting that any slowdown is temporary and part of economic cycles.
AI’s impact on productivity and employment
Addressing concerns about AI’s impact on employment, Gopalakrishnan explained that AI would primarily enhance productivity rather than replace jobs. He described AI as a “horizontal technology” that will affect every industry, creating new tasks and opportunities.
“There will be some improvement in productivity, but there will not be a significant reduction in the number of people working in this industry,” he stated.
Global capability centers and IT talent dynamics
Regarding talent availability and Global capability centers (GCCs) in India, Gopalakrishnan acknowledged the competitive landscape but expressed confidence in the industry’s adaptability.
He noted that GCCs are expanding and paying more, which could impact talent dynamics.
However, he sees this as part of the industry’s evolution, recalling similar challenges when multinational companies first entered India in the early 1990s.
Future of IT: Adaptation and innovation
Gopalakrishnan’s insights highlight a positive outlook for the IT industry, driven by technological advancements and strategic investments.
His confidence in the sector’s growth potential and adaptability offers a reassuring perspective amid the ongoing technological transformation.
As AI continues to evolve, the IT industry is expected to leverage these advancements to create new opportunities and maintain its growth trajectory.
