Abstract
This paper analyse into how artificial intelligence (AI) is changing the managerial and economic landscape and impacts the GDP growth, employment prospects, productivity and economic aspects of the Indian economy. It’s discussing that the large opportunities in terms of increases in productivity can ensure including for developing countries, given the vastly reduced costs of capital that some applications have demonstrated and the potential for productivity increases, especially among the low skilled. At the same time, risks in the form of further increases in inequality need to be addressed if the benefits from AI-based technological progress are to be broadly shared. For this, skills policies are necessary but not sufficient. It also looks at how management practises are changing as a result of AI, notably in relation to the development of new business models, improved decision-making processes, and widespread task automation. The current wave of technological change based on advancements in artificial intelligence (AI) has created widespread fear of job loss and further rises in inequality. The results highlight how AI has the ability to considerably boost India’s economic development and also recognise the need to address talent gaps and ethical issues at the same time.
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