Economic Survey warns of AI's potential to displace middle, lower-income work

While the developers of Artificial Intelligence (AI) promise to revolutionise industries by automating a large portion of economically valuable work, from healthcare and research to finance and education, this advancement may come with significant consequences, the Economic Survey 2024-2025 tabled by finance minister Nirmala Sitharaman on Friday stated.

The advancement of AI comes with consequences, particularly for middle- and lower-income workers, with large-scale labor displacement expected as AI surpasses human decision-making across various fields, it said.