Delhi Speaker: AI Must Drive Inclusive Growth, Not Widen Inequality

Addressing the 3rd National Seminar on 'Challenges and Opportunities in the Age of AI: An Economic Perspective' at the Academic Auditorium of Shaheed Bhagat Singh College, University of Delhi, the Speaker observed that Artificial Intelligence has evolved into a structural economic force reshaping productivity, labour markets, capital allocation, and global competitiveness.

He noted that economies worldwide are reorganising around data, algorithms, and computational capacity, with AI influencing financial systems, manufacturing processes, agriculture through predictive analytics, healthcare delivery, logistics, and public administration.

The seminar was also attended by Prof. Ram Singh, Director of the Delhi School of Economics and Member of the Monetary Policy Committee, along with distinguished speakers from academia and industry.

The event was organised by the College's Department of Economics and was attended by eminent academicians, policymakers, industry experts, faculty members, and students.

Highlighting India's position as one of the fastest-growing digital economies, Gupta stated that the country's digital public infrastructure and youthful demographic profile place it at a strategic advantage in this global transition.

He emphasised that AI offers substantial economic opportunities, enhancing productivity across sectors, strengthening financial inclusion through improved credit assessment and risk modelling, enabling efficient public service delivery, and fostering innovation and high-value industries.

Referring to emerging global labour trends, he noted that AI-linked roles are increasingly associated with higher wages and improved job quality, presenting meaningful opportunities for India's youth.

At the same time, the Speaker cautioned that the transition must be managed with foresight and balance.

He emphasised the risks of labour displacement from the automation of routine tasks, the widening skills gap, and the persistence of the digital divide.

The Speaker also highlighted the concentration of capital and data in AI development, which may affect market competition.

Stressing the need for large-scale reskilling and upskilling initiatives, industry-academia collaboration, and expansion of digital education, he emphasised that regulatory clarity, data governance, and algorithmic accountability are economic imperatives essential to sustaining trust and fairness in markets.

Gupta further noted that AI adoption carries broader macroeconomic implications affecting wage structures, taxation systems, fiscal sustainability, and long-term employment patterns.

He observed that policymaking must anticipate these shifts to ensure stable and inclusive growth.

- IANS