AI productivity

Microsoft CEO Satya Nadella's tour of India has put the spotlight on artificial intelligence and he has highlighted the abilities of the country's technology workforce to provide transformational economic growth and that too at good speed. India could be one of the countries that can benefit significantly from AI which may also result in solving the country's distinctive structural issues according to Nadella. In a number of interviews over the last few days, Nadella has said that he believes India, with its wide range…

 A majority of Indian respondents believe that AI will increase their productivity at work compared to 31 per cent globally, provided their organisations support them with upskilling opportunities, according to a survey by PwC.India can become the pioneer in incorporating AI (artificial intelligence) technology into business if the industry moves ahead with the right upskilling approach, said the PwC report titled 'India Workforce Hopes and Fears Survey 2023'. The survey drew responses from 2,502 participants in India…

Artificial intelligence has been a controversial topic in the workplace. The dependency on AI is growing and many fear that soon its capabilities will take away hundreds of millions of jobs. However, recent studies have shown that AI in the workplace has improved employee productivity and by 2033 it may also reduce working hours from 40 hours a week to just 32 hours, but only for one-third of the workforce. Additionally, it is also believed that the use of AI cloud result in better employee work-life balance. Check what…

 The UK is turning to AI to assist with administrative tasks and free up police officers, teachers, and health workers to focus on front-line responsibilities.A government review found that many teachers “waste a day each week” on tasks including data input and daily reports, and said that cutting administrative workloads would allow police to focus more time on tackling crime. The report, to be included in the government's Autumn Statement next week, will highlight “huge opportunities” to reduce daily administrative…

Generative artificial intelligence and its impact on jobs and employment has been a constant debate ever since the new technology sprang up. The educated estimate is that AI is going to make some jobs obsolete, but it will also create new opportunities. However, one particular aspect where not much research has taken place is how AI and humans working together can impact work. This changed with a recent study that monitored the employees of the Boston Consulting Group (BCG) to find out the compounding effect of an…

The long list of things AI will revolutionize includes, in roughly descending order of importance, childhood, democracy, the internet, chess and how to decide where to go on vacation. Today I would like to write about an area that cuts close to home: economic policy.To start with a simple framework: Production is the result of a combination of inputs — land, labor, capital and so on. If one of those inputs becomes more plentiful, the others become more scarce, in relative terms, and thus higher in marginal value.…