IMPACT OF ARTIFICIAL INTELLIGENT ON EMPLOYABILITY AND ITS REPERCUSSION EFFECT ON LOWER LEVEL MANAGEMENT

Abstract

Recent technology development bought into an integration approach of AI usage in all sectors of economy. This transformation has undoubtedly coined as an engine for growth and productivity improvement but it has led to displacement and reinstatement effect on jobs. As per IBM 77% of the business has integrated AI into its operations but this not only have immediate impact on job loss instead it has great potential for new jobs to be explored.

Purpose of the study: - This Study will enable to understand the impact of AI automation in labour market in particular, effect on low level routine jobs. Low level Employees jobs displaced and the skills required to be deployed so that they can be reinstate. As per the Sources, though there are job losses due to AI automation but simultaneously 97 million new job opportunities are created which clearly shows that, there is need to work on the strategies to upskill the labour sector whose jobs are lost. Current focus of the study is to work on the model framework strategy to upskill the labour unit for its reinstatement.

Practical & social implications: - AI driven automation strategies are replacing lower level employees from routine jobs and even Forbes statistics shows that AI automation has reduced the wages of employees to 70% indicating the need to upskill labour market to reinstate themselves in coming years. To avoid the problem of unemployment in near future, there is a need to work on strategies to upskill the labour force in a country like India. As per the article of TOI on ?The impact of artificial intelligence on labour economics? indicates that there is a need to work on strategies to provide training due to ?job polarisation?. Current study highlights on the way to work on the reskilling of the labour force to solve the problem of declining employment prospects.

Findings: - Survey method was used to collect the data from employees to understand the jobs which were displaced in different companies. Business model framework is prepared to provide training to lower level employees for their reinstate in companies.