It is difficult to say how the AI ​​economy will affect jobs: Openai’s Chief Economist

“Some Nobel Prize -winning economists estimate AI’s impact on GDP in low single digits, while others expect an increase of double digits. These are uncertain things,” Chatterjee said. Mint In an interview during his visit to India on Tuesday.

A similar debate is done on the effects of AI on jobs. “Some studies suggest that AI will only affect a small fraction of jobs, while others say that up to 80% job functions may change. We are still finding out how the AI ​​will move forward through the economy.” However, Chatterjee is optimistic. “I have spent time with the people of the creation of these models, and the pace of progress is incredible. What we can do a year ago is very different from what we can do today – and in just two months, the advancement is amazing.”

AI revolution

AI adoption is becoming increasingly faster. Chatterjee said, “The capabilities of these models are improving so fast that the economic impact will be increased.” “Economists will need to study, run A/B test (compare the results of two different options – A and B – with a pilot), and interview the workers to fully understand the effects of AI,” he said. “Finally, we will get the exact number, but right now, we are still in Discovery Mode.”

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Chatterjee agreed that the pace of change of AI is much faster than the previous technical revolutions. “There was a difference of about 10 years between the invention of the integrated circuit and its widespread use. AI would not give us so much time. Businesses, governments and civil society need to be ready now.”

Chatterjee was to know about his AI ecosystem in India and find out opportunities for cooperation. He met with government officials, business leaders and representatives of civil society, gaining a comprehensive view of how AI is shaping various fields.

India is not only a major user of AI, but also an important contributor. This is our number two market for weekly active users, and people here are building things that are not being done anywhere else in the world.

“Travel globally helps us understand how different fields are being adopted. The reason I learn, the amount of as much as I can, as much as I can, informs our efforts in India and informs our efforts. And when you learn, you can also build together. Are not doing

A major topic of discussion was India’s AI Infrastructure investment, especially an attempts to build a strong spine for AI development. Chatterjee said, “We are laying the foundation of construction simultaneously in the future, and I hope I will come back.” “The best time to start the scheme is now. We need to manage risks and support people through these infections.”

On the economic front, AI will reopen job markets. While automation can displace certain roles, it will also create new opportunities like previous technical changes. According to Chatterjee, there is a challenge in ensuring widespread access to AI tools and upcilling workers to effectively use them. Governments and organizations should cooperate to manage these infections smoothly.

Chatterjee also believes that India has an important opportunity in AI and technology, thanks to its youth and skilled workforce. India is well deployed to be suited to the technological progress, with a large under -30 population for more than one million stem graduates and for the next 30 years. He said that young professionals have flexibility to gain new skills, making a significant focus to the future workforce of the country.

But when asked about a universal basic income idea to help those whose jobs are displaced, Chatterjee said it in a light vein: “Hey, no, not me. I already have enough luggage on my plate.”

Beyond economic policies, Chatterjee said that there is a possible lie in India’s possible education system. AI-managed industries require basic knowledge and balance of important thinking to prepare students. He said, “AI, like a calculator in mathematics education, cannot help in fundamental learning.

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Chatterjee admitted that the Government of India is making significant investment in AI infrastructure and readiness. AI-operated solution can improve service delivery, especially for individuals facing language obstacles or bureaucracy complications. AI can help farmers reach subsidy information or help citizens in navigating government programs more efficiently.

Consider these examples. In partnership with Digital Green, OpenAII, farmers have developed. An AI-powered equipment, which helps farmers to reach individual agricultural advice immediately. It supports India, Kenya and further expansion programs, where the agent-to-Ferror ratio can be high as 1: 650. In 15 years, Digital Green has created 8,000+ training videos in 50+ languages, increasing the income of the farmer by 24%. Vahan.ai, which connects job seekers with possible opportunities and candidates with employers, uses Openai’s large language model (LLM) GPT-4o, as well as with speech-to-text and text-to-spich services.

Additionally, India’s commitment to digital infrastructure, such as Unified Payment Interface (UPI) and Open Data initiative, according to Chatterjee, enhances AI applications in governance and public services.

Chatterjee is a man of many parts. Apart from its openiI role, she is also the Duke University Professor of Business and Public Policy. He earlier served as the Chips Coordinator of Biden White House, overseeing the execution of $ 52 billion chips and science act (in danger of the current Trump administration); And also, President was a senior economist in Obama’s Economic Advisors’ Council.

Will China give us a run with low cost for their money, multimodal region AI model for their money, which includes Badu’s new Ernie model, Chinese AI Labs’ Deepsek, Monica’s Manas and Cuven of Alibaba? Chatterjee believes that the US and China follow various models in the global AI competition. The US depends on public sector investment to catalyze private innovation. Ensuring balance between technological progress and national security remains a priority.

Finally, the impact of AI on economies will depend on strategic policy decisions and investments in human capital. Markets play a powerful role in shaping industries, but government intervention is important in establishing rules and establishing a strong foundation. This approach has proved effective in various fields, especially in the US, where it continues regardless of political changes, according to Chatterjee.

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Asked about the impact of AI on innovation and entrepreneurship, Chatterjee reported that when the enterprise struggles with the challenges of adoption, the startups are taking AI on a fast scale, reaching users and generating revenue at unprecedented rates. He said that various industries – regulators such as healthcare, education, finance and energy will progress at different speed due to complications and market dynamics.

Entrepreneurship and innovation remain the central driver of economic development, Chatterjee said, scientists and engineers working in the laboratory can now accelerate research and commercialize successes more efficiently. Even a slight 10–15% increase in this process can significantly increase global economic expansion. The ability to take state-of-the-art research and rapidly bring it to the market is a game-changer, especially in areas such as medical technology, robotics and AI-operated discoveries, he said, “AI apps are really exciting. It is really where Big ROI is coming for these technologies.”

Meanwhile, Openai, which has raised $ 17.9 billion to date and was finally a price of about $ 157 billion by its private investors, is allegedly ready to raise $ 40 billion, which can bring its evaluation to about $ 300 billion. Prominent investors of the company include Microsoft, Thrive Capital and Khosla Ventures with additional support from major firms such as Nvidia and SoftBank.

He said, “The wealth -raising Alone is dependent on the result of the trial filed by Musk, which challenges the infection of a chat maker for a beneficial model.” According to Reuters, both sides jointly propose a test to speed up the case; The result is important to increase more capital for OpenIAI and compete in the global AI race.

Chatterjee admitted that these are very “important” issues, but he said that the answer was “beyond the salary grade of an economist”.

Incidentally, Chatterjee’s visit took place on Tuesday with a second hearing of the copyright case filed by the news agency by the news agency. Asian News International (ANI)Alleging that Openai has illegally used its copyright news materials to train its big language model (LLM) Chatbot Chatgate. It also visited the visit of Openai Chief Executive Officer Sam Altman for India earlier last month.

For a suggestion that Chatterjee can be compared to “AI’s Adam Smith”, he said, “If you take the analogy forward, and read the original work of Adam Smith (‘An inquiry of the reasons for the wealth of the nations and the wealth of the nations), then he (Smith) was trying to know this recently. – We recently discussed that geoconomics, nationalism and localism, we were trying to know that gioconomics, nationalism and population. And how technical changes are shifting how nations are thinking about these issues in a big way.

This is an important reason that Chatterjee chose openi. “Election was about maximizing learning. After an academic and government career, the opportunity to contribute to a leading technology organization and attach to the rapidly developed field was unparamed. The journey seems to have a book reading that is being written in real time-a privilege and a thrilling challenge.”

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