Mphasis CEO Nitin Rakesh rejects the notion that AI is going to kill jobs.“60% of the jobs that we have today, did not exist 100 years ago. New technology, by definition, automates something and creates new roles.

Mphasis CEO Nitin Rakesh Warns That AI Will Not Replace Human Jobs, ChatGPT Is Not A Solution To All Tech Issues

Febin MathewJune 13, 23 ChatGPT, Mphasis

The buzzwords at tech conferences are consistently ChatGPT and generative AI. During the 2-hour keynote at I/O 2023, Google executives mentioned “AI” approximately 150 times. When discussing generative AI, the conversation typically revolves around two topics: how AI can enhance businesses like magic and how it may lead to job loss.

Some experts even think that generative AI has the ability to replace the CEO of a company. Despite this, many top executives are still looking at AI and its real impact on business.

On the sidelines of London Tech Week 2023, Mphasis CEO Nitin Rakesh spoke to ReturnByte’s Debashis Sarkar about the recent conversation around ChatGPT and generative AI. Artificial intelligence is a “wonderful opportunity” for Mphasis, but according to Nitin, expert discussions should now go beyond the hype.

WATCH VIDEO: ChatGPT is not the answer to all technical problems; Artificial intelligence will not kill jobs: CEO of Mphasis

Sharing his thoughts on ChatGPT, Mphasis CEO Nitin Rakesh said, “Generative AI is a fundamental breakthrough in computing, but I don’t think it’s the answer to all problems. It just creates new opportunities in the future. We should think of this as a great way to advance the agenda when it comes to big about using data sets that are not usually exploited. Artificial intelligence can help understand customers and increase efficiency.”

Nitin rejects the idea that artificial intelligence will kill jobs. “60 percent of today’s jobs didn’t exist 100 years ago. New technology, by definition, automates something and creates new roles. For example, automating simple basic functions. I’m not in the camp that says AI will kill jobs. I think this creates huge opportunities to free up organizations value. Of course, for companies like ours, this is a very exciting new development. It used to take months to get boardrooms to embark on an automation project, but now CEOs are asking for it themselves.”

he said.

Having said that, Nitin emphasized that the hype around ChatGPT is forcing all industries to look at AI. “Early use cases for generative AI are quickly coming to consumer-facing industries. This is mostly about improving the customer experience… My advice would be to embrace AI tools and make the most of them.”