How Generative AI Will Change Jobs and the Economy in India by 2030

Generative AI is changing the economy and job market in India and around the world. EY’s recent report says that by 2030, AI and Generative AI could create millions of jobs. They can also boost productivity in many industries. However, with opportunities, there are always challenges to overcome that can hamper growth.

What do the Numbers say?

Generative AI has the potential to boost productivity by 2.61% in the organised sector. Also, 2.82% in the unorganised sector. 

This means that the employees or workers can benefit from AI by getting more work done in less time. For example, repetitive tasks can be done by Generative AI, saving hours of work that can be used for more important tasks. 

Which Industries Will Benefit Most?

Every industry will have a different impact because of Generative AI. 

• Services: The biggest winner, thanks to tasks like customer service and content creation, is becoming more efficient.
• Manufacturing & Construction: Smaller gains because these industries rely more on manual labour than knowledge work.

AI adoption could also boost productivity in specific sectors like:

• Call centers: Up to an 80% improvement.
• Software development: 61% increase.
• Sales and marketing: 41% gain.
• Healthcare: A 13% boost in efficiency.

Why Isn’t Everyone Using AI Yet?

AI has become very popular in the last year, but most companies and workers are still not using it. Why? Not everyone is trained enough, and not everyone is aware of its potential. 

The biggest barriers? A lack of skilled talent and poor data readiness.

• Small businesses say they have enough in-house expertise to make the most of AI.
• Companies are completely unprepared in terms of data infrastructure.
• Small businesses are very reluctant to use AI and think it’s for large organisations.
• Some businesses think AI errors are too expensive and can lead them to nowhere. 

The Cost of AI is Falling

One positive trend is that the cost of using AI is dropping fast. Open-source tools and smaller specialised AI models have brought down expenses. 

What Needs to Happen Next?

To fully unlock the potential of generative AI, India needs to focus on:

1. Training Workers: Upskilling the workforce to handle AI-powered tools and processes. There are a lot of Generative AI course or PGDM in AI courses that help employees get trained and upskilled in the required Generative AI models and work processes. 
2. Improving Data Systems: Building better infrastructure to make AI adoption easier.
3. Clear ROI Frameworks: Helping companies measure the impact and cost-effectiveness of AI.
4. Using Affordable Tools: Encouraging the adoption of cost-effective AI technologies.

Why Does This Matter?

Generative AI can transform how we work, operate, and determine growth in companies. Generative AI is designed to save people’s time and boost productivity. It has great potential to shape India’s economy and can bring a lot of innovation. It can create new job opportunities for the youth of India and set an example for everyone else in the world. How can you make the most of it? You can earn knowledge and certificates from reputed courses like the MIT AI certificate and use them for the betterment of your career. 

AUTHOR BIO

Akriti Galav is an experienced Content Strategist at Great Learning, bringing over 8 years of expertise in content marketing and digital strategy. With a passion for crafting impactful narratives, she combines her deep understanding of digital marketing with meticulous research to create content that resonates with audiences and delivers value.