Ruchir Sharma, chairman of Rockefeller International, offers a nuanced perspective on artificial intelligence, asserting that AI will not lead to widespread job elimination but rather a significant transformation of professions. In an exclusive interview, Sharma explained that while AI will automate existing roles, it will also spur the creation of entirely new job categories.
Sharma cautioned against what he termed an ‘AI bubble,’ suggesting the world is currently overestimating AI’s immediate disruptive power. He believes a more measured understanding of its impact is necessary.
Turning to India’s economic landscape, Sharma pointed out that the nation has not fully leveraged the global ‘China+1’ supply chain diversification strategy. He attributed this to a challenging domestic business environment and a lack of coordinated efforts across different levels of government. Countries such as Vietnam and South Korea, he noted, have been more successful in attracting investment amid this global shift.
To truly benefit from technological advancements and evolving supply chains, Sharma stressed the critical need for India to enhance its AI infrastructure, including investments in semiconductors and data centers. He also called for increased research and development (R&D) spending, which currently lags behind global leaders in AI innovation. Sharma warned against complacency, cautioning that a reliance on India’s large market size to automatically attract foreign investment could lead to suboptimal policymaking.
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