The concept of 'stewarding institutions' is introduced, designed to be agile and responsive, capable of identifying both opportunities and threats posed by emerging technologies like AI.

Government initiatives include establishing AI Centres of Excellence and a Rs 1 trillion financing fund for private-sector R&D in emerging technologies.

To address these challenges, the survey advocates for the creation of 'stewarding institutions' that would oversee the ethical deployment of AI technologies.

An IIM Ahmedabad survey reveals that 68% of white-collar workers in India anticipate their jobs will be partially or fully automated by AI within five years.

It warns that the democratization of AI could threaten essential priorities such as energy, water, housing, and food security, necessitating careful policy consideration.

India's Economic Survey 2024-25, released today, highlights the country's potential to leverage artificial intelligence (AI) as a catalyst for equitable economic transformation, despite rising concerns over competing technologies from China.

The survey emphasizes that while challenges exist, India's young population and service-oriented economy provide opportunities to harness the benefits of emerging technologies, provided they are managed effectively.

India's demographic advantage and diverse economic landscape position it uniquely to benefit from AI, helping the nation thrive in an increasingly automated world.

A future roadmap is called for, focusing on industry-academia partnerships, continuous skill development, and flexible learning models to build a competitive workforce.

Being a services-driven economy, India faces significant risks as low-value-added jobs are most vulnerable to automation, potentially leading to reduced consumption and adverse macroeconomic effects.

The survey indicates that India's employment challenge now centers on the quality of the workforce, underscoring the importance of critical thinking, creativity, and deep domain expertise.

Concerns were raised about AI integration potentially deepening economic disparities, particularly in labor-rich developing countries like India.