2024 India Economic Survey warns AI may slow BPO sector growth, impact jobs, and reduce productivity.
India's Economic Survey warns of potential challenges posed by AI, particularly for the Business Process Outsourcing (BPO) sector. While AI is expected to boost India's productivity, it may also slow BPO sector growth, affect customer services, and threaten BPO-related jobs. The Survey also notes that AI could reduce annual productivity growth by about 0.3 percentage points in the coming years. The government is expected to address these issues in the upcoming Union Budget 2024 while harnessing AI's potential benefits.
July 21, 2024
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