India's technology outsourcing sector is facing challenges brought about by artificial intelligence (AI), as the rise of AI could lead to significant job losses, affecting an industry that contributes 8% to the Indian economy. In the past year, the industry added only 60,000 jobs, marking a ten-year low, while the total number of employees in three major tech companies decreased by over 60,000 during the same period. The labor intensity of the industry is decreasing, with the number of employees required to generate $1 million in annual revenue dropping from 27 to 21, indicating that AI may exacerbate this trend. Indian outsourcing companies are actively responding by training employees to adapt to the future demand for advanced skills.

Beijing recently held a press conference to interpret the economic situation and policies for the first half of the year, revealing significant achievements in the field of artificial intelligence. It is reported that by the first half of 2024, Beijing will achieve major breakthroughs in artificial intelligence, with a total of 71 large models launched, accounting for over 40% of the national total, demonstrating Beijing's leading position in the development of AI technology.

Two AI anchors from CCTV Finance's new media have started working during the Two Sessions, able to answer questions in the fields of economy, industry, and tourism 24/7. The AI anchors are supported by the Ant Group Digital Human Platform, featuring high modeling accuracy, complete dynamic details, natural pronunciation, and high fidelity. The Ant Group Digital Human Platform provided technical support for the digital torchbearers relay activity during last year's Hangzhou Asian Games. In 2021, CCTV introduced an AI sign language anchor to provide year-round service for the hearing impaired. Zhu Guangquan has already 'interviewed' the AI sign language anchor with challenging jokes.

The IMF president warns that 40% of global jobs will be affected by AI, with 60% of jobs in developed countries potentially impacted and 40% in emerging markets. AI may enhance efficiency in some jobs but could also replace certain positions. The IMF calls for the establishment of a social safety net to provide retraining for affected workers. Similar warnings have been issued by institutions such as Goldman Sachs.

IMF President Kristalina Georgieva stated that artificial intelligence will affect 60% of jobs in advanced economies. Older workers will be more susceptible to this transformation, with nearly 40% of global employment exposed to the risks of AI. While the impact of AI is smaller for emerging markets and developing countries, they may find it more difficult to benefit from new technologies, potentially exacerbating the digital divide and income inequality. The IMF emphasizes the importance of policies, especially to help low-income countries seize the opportunities presented by AI more rapidly.

McKinsey predicts that generative AI could increase global productivity by $2.6 trillion to $4.4 trillion annually over the next few years. Generative AI has the potential to automate high-income knowledge jobs, such as sales, marketing, and software development, on a large scale. AI automation is expected to initially take hold in wealthy countries, exacerbating the gap with countries like India that adopt it more slowly. Caution should be exercised regarding the potential impact of the rapid proliferation of AI technology on employment, taking into account risks such as algorithmic bias and data security.

👍Large models drive work automation: The article mentions that by 2030-2060, nearly all types of work will be automated by artificial intelligence. 👍Knowledge work benefits the most: Large models have the greatest impact on knowledge work, which was previously regarded as having low automation potential. 🔥Wide application prospects: Industries such as sales, marketing, software development, and customer operations are the most suitable for large model applications.

Cathie Wood believes that the U.S. economy may face challenges that could lead to a hard landing. However, she is confident that technological innovations such as artificial intelligence can help address economic issues. AI can lower the costs of goods and services, stimulating economic growth. The appreciation of the dollar could also lead to a deflationary effect that favors growth. Wood does not consider technological innovation to be the only factor that can promote an economic rebound.