Goldman Sachs: India is unlikely to face mass unemployment due to artificial intelligence.

Goldman Sachs' Chief India Economist Santanu Sengupta stated on Friday that mass unemployment in India's labor force is unlikely due to the rise of artificial intelligence, although some positions in the service sector may be affected. In an interview, Sengupta mentioned that compared to many other countries, the impact of artificial intelligence on India will be relatively limited. He said, "The main reason is that India has a large labor force, with many workers engaged in mechanical or manual jobs." He noted that the construction and retail sectors employ about 40% of India's workforce, adding that "these sectors are currently unlikely to be impacted by artificial intelligence; the main effects will be on the service industry." Goldman Sachs estimates that if the application of artificial intelligence is advanced in an orderly manner, the impacts could be mitigated, while overall productivity may increase by 0.4 percentage points over the next decade.