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Tata Sons chairman N Chandrasekaran sees Artificial Intelligence (AI) creating a big impact on India. In his address at the JRD Tata Oration, the head of the Tata group said that AI is here to stay and it will be beneficial if India prepares for it.
He said that there are also some very important global transitions underway, especially in the areas of AI, energy and global supply chains.”All these transitions present opportunities for growth, for innovation and for inventing a new future better than the past for all…In this context, India is making significant progress. Economically, we are already the fifth largest economy. Many things are working for us and going in our favour,” he asserted.
The Tata Sons chairman said that AI will impact almost every sector and country going forward. It will not only improve productivity but will also create things which were hitherto not seen or imagined.
“There are extreme views on AI. Those who believe it will change the world for the better and those who believe the risks are very high & it will take a significant number of jobs away. There are merits in these arguments but I for one believe that it will be beneficial if we prepare for it,” he added.
Chandrasekaran also pointed out that the energy requirement of the fast-changing world is enormous.
For example, he said more AI means more data centres, which means more energy. By 2027, global AI-related electricity consumption could surge by 85 to 134 TWh (Terawatt Hour) annually, comparable to the power needs of countries like the Netherlands, Argentina, and Sweden.
“We need to meet this energy requirement with a lower cost of energy and it all has to be new energy. Apart from the new energy sources of solar and wind, there will be at least 20 other new energy sources that will come up in the next two decades,” he said, adding that all of this would require significant investment, capabilities, and new skills which in turn would generate new jobs.
On global supply chains, he said over the last four decades, global supply chains have been built for efficiency and have been concentrated and the pandemic as well as the geo-political uncertainties have exposed the fragility of this approach.
“Now, alternative supply chains, to ensure redundancy and continuous operations, are being built,” Chandrasekaran said.
(With agency inputs)
He said that there are also some very important global transitions underway, especially in the areas of AI, energy and global supply chains.”All these transitions present opportunities for growth, for innovation and for inventing a new future better than the past for all…In this context, India is making significant progress. Economically, we are already the fifth largest economy. Many things are working for us and going in our favour,” he asserted.
The Tata Sons chairman said that AI will impact almost every sector and country going forward. It will not only improve productivity but will also create things which were hitherto not seen or imagined.
“There are extreme views on AI. Those who believe it will change the world for the better and those who believe the risks are very high & it will take a significant number of jobs away. There are merits in these arguments but I for one believe that it will be beneficial if we prepare for it,” he added.
Chandrasekaran also pointed out that the energy requirement of the fast-changing world is enormous.
For example, he said more AI means more data centres, which means more energy. By 2027, global AI-related electricity consumption could surge by 85 to 134 TWh (Terawatt Hour) annually, comparable to the power needs of countries like the Netherlands, Argentina, and Sweden.
“We need to meet this energy requirement with a lower cost of energy and it all has to be new energy. Apart from the new energy sources of solar and wind, there will be at least 20 other new energy sources that will come up in the next two decades,” he said, adding that all of this would require significant investment, capabilities, and new skills which in turn would generate new jobs.
On global supply chains, he said over the last four decades, global supply chains have been built for efficiency and have been concentrated and the pandemic as well as the geo-political uncertainties have exposed the fragility of this approach.
“Now, alternative supply chains, to ensure redundancy and continuous operations, are being built,” Chandrasekaran said.
(With agency inputs)
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