Revanth Explores ‘People Credit’ On AI Firms Over Job Losses
Positioning himself as the first Indian keynote speaker at the event and drawing from his association as an HKS alumnus, Reddy described artificial intelligence as “mankind’s greatest invention
Hyderabad: Chief Minister A Revanth Reddy on Friday said the state government was exploring the possibility of getting artificial intelligence (AI) companies to compensate people who may lose jobs due to automation, via ‘people credits’.
Addressing the event virtually at the Harvard University campus in Boston, Revanth Reddy said, “I am trying to create a massive skilling ecosystem to provide re-skilling to all my people who may lose their jobs. We will also try to create AI policies similar to pollution, under which polluting industries have to buy carbon credits. We will try to make laws so AI firms can be taxed for people credits,” he added.
Revanth Reddy, who recently completed a five-day leadership programme at the Harvard Kennedy School, said, “AI will change the scope of work for doctors, lawyers, architects, film makers, writers, poets, and policy makers instead of replacing them.”
He cautioned that entry-level hiring could decline, even as overall output rises. As such, “it is only fair that our companies with trillions of dollars of valuation compensate people and society whose jobs are lost,” he said.
Inviting global companies to invest in the Bharat Future City, he said the new city will have a dedicated area called AI City, which would be a one-stop destination for GCCs (Global Capability Centres) in AI, its applications.
Responding to concerns over job losses due to AI, the Chief Minister said the government was expanding sectors such as global tourism, sustainability, green energy, electric vehicles and infrastructure to generate blue-collar employment.
The Chief Minister said the state was also focusing on manufacturing to position itself as a China+1 destination powered by green energy.
