Plumbers will survive AI: Raghuram Rajan as he flags shortcomings in Indian education
The world is on the cusp of a revolution, with Artificial Intelligence (AI) transforming the way we live and work. While there is no doubt that AI will bring about unprecedented efficiency and productivity, it also poses a significant threat to jobs. Many experts have warned that AI could displace a large number of jobs, leaving millions of people without employment. However, according to former Reserve Bank of India (RBI) Governor Raghuram Rajan, not all jobs are at risk. In a recent statement, Rajan said that hands-on jobs like that of a plumber may survive the AI wave, while a variety of other jobs go away.
Rajan’s statement highlights the importance of skills training and vocational education in the Indian context. He pointed out that the Indian education system has failed to provide adequate training for hands-on jobs, which are essential for the country’s economic growth and development. “We need to find a good skilling model…It’s not rocket science,” Rajan said, emphasizing the need for a more practical and skills-based approach to education. He further suggested that Indians must understand that not everyone needs a college degree, and that there are many other paths to successful and fulfilling careers.
The issue of job displacement due to AI is a pressing concern globally. According to a report by the McKinsey Global Institute, up to 800 million jobs could be lost worldwide due to automation by 2030. However, the same report also notes that while automation will displace some jobs, it will also create new ones. The key is to ensure that workers have the skills and training needed to adapt to the changing job market.
In India, the problem is particularly acute. The country has a large and growing population of young people, many of whom are struggling to find employment. According to a report by the International Labor Organization (ILO), the youth unemployment rate in India is around 10%, which is significantly higher than the global average. The report also notes that many Indian youth lack the skills and training needed to compete in the modern job market.
Rajan’s statement highlights the need for a more nuanced approach to education and skills training in India. While there is no doubt that college degrees are important, they are not the only path to success. Many other countries, such as Germany and Australia, have successfully implemented vocational training programs that provide young people with the skills and training needed to succeed in the workforce.
In India, there are many examples of successful vocational training programs. For example, the National Skill Development Corporation (NSDC) has launched a number of initiatives aimed at providing skills training to young people. These initiatives include programs in areas such as IT, healthcare, and manufacturing, and have been successful in providing employment opportunities to thousands of young people.
However, despite these successes, there is still much work to be done. According to a report by the World Bank, India’s vocational training programs are often fragmented and lacking in standardization. The report notes that there is a need for greater coordination and cooperation between government agencies, industry partners, and training providers to ensure that vocational training programs are effective and relevant to the needs of the job market.
In conclusion, Raghuram Rajan’s statement highlights the importance of skills training and vocational education in the Indian context. While AI may displace some jobs, it is clear that many hands-on jobs, such as those of plumbers and electricians, will continue to be in demand. To ensure that Indian workers are able to adapt to the changing job market, it is essential that the country develops a more nuanced approach to education and skills training. This includes providing greater emphasis on vocational training and skills development, as well as promoting a culture of lifelong learning and adaptability.
As India continues to navigate the challenges and opportunities of the AI revolution, it is clear that there is much work to be done. However, with the right approach to education and skills training, it is possible to ensure that Indian workers are able to thrive in the modern job market. As Rajan said, “It’s not rocket science” – with a bit of creativity and innovation, it is possible to develop a skilling model that works for everyone.
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