Former HDFC Bank CEO Aditya Puri anticipates that artificial intelligence (AI) will significantly boost productivity in India while causing only limited job losses. Speaking at the Mint India Investment Summit, Puri highlighted India’s strong position to maintain its status as the fastest-growing economy, despite prevailing global uncertainties.
Puri’s optimistic outlook is based on the transformative potential of AI across various sectors. He suggested that AI would augment human capabilities, leading to increased efficiency and innovation, rather than widespread unemployment. This perspective aligns with a broader discussion on how technology can be harnessed to drive economic growth and improve living standards in developing economies.
“There may be a need for some people to retrain, but AI will increase productivity,” Puri stated, emphasizing the need for proactive measures to equip the workforce with the skills required for the evolving job market. He pointed out that while some jobs may become obsolete, new opportunities would emerge in areas related to AI development, implementation, and maintenance.
India’s economic resilience was also a key theme of Puri’s address. He noted that despite external risks such as geopolitical tensions and global economic slowdown, India’s robust domestic demand and ongoing structural reforms would continue to propel its growth trajectory. The former CEO underscored the importance of strategic investments in infrastructure, technology, and human capital to sustain this momentum.
The Mint India Investment Summit brought together prominent business leaders, policymakers, and investors to discuss strategies for navigating the current economic landscape and capitalizing on India’s growth potential. Puri’s insights provided a valuable perspective on the role of technology and strategic economic policies in shaping India’s future.
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