In Short:
Bharti Group Chairman Sunil Mittal highlighted the growing importance of Artificial Intelligence (AI) for the global economy and its challenges. He shared an alarming experience of a fraud attempt using AI to imitate his voice. Mittal emphasized the need for vigilance against misuse while recognizing AI’s potential to improve efficiency and create new jobs, despite risks of reducing some routine positions.
Sunil Mittal, Chairman of the Bharti Group, emphasized on Monday that Artificial Intelligence (AI) is set to be a pivotal force in shaping the global economy and geopolitical landscape in the future. During his address at the NDTV World Summit, he acknowledged the inherent challenges posed by this emerging technology, specifically the potential for misuse, thereby underscoring the necessity for enhanced vigilance and regulatory guardrails.
Mittal shared a personal incident involving a senior finance official in Dubai who was targeted by a fraudulent call that closely imitated his voice, prompting a significant fund transfer directive. The official demonstrated vigilance and prudence, promptly identifying the deceit, while Mittal expressed disbelief upon hearing the impersonation, stating, “It was perfectly articulated as I would speak.” He cautioned that without similar vigilance, individuals might fall prey to sophisticated fraudsters who could leverage digital signatures and facial likenesses on video calls in the future.
He stated, “We’ll have to protect our societies from the evils of AI, and yet we have to use the goodness of AI, because those companies, and nations that will not adopt AI will be left behind.” This duality of innovation encapsulates the inherent paradox of technological advancement, where benefits and drawbacks coexist. Mittal maintained a hopeful outlook regarding AI’s potential to facilitate exceptional accomplishments that enhance human productivity and capabilities.
When questioned about AI’s implications for job displacement within his organization, Mittal noted that routine, mundane, and repetitive roles face significant risks of being automated. He stated, “We are already seeing in our company, we are making huge efficiency through the adoption of AI, which means reduction of people. But equally, new jobs are coming through.” This sentiment reinforces the notion that while technology may eliminate certain roles, it simultaneously catalyzes the creation of new opportunities.
Further elaborating on the transformative impact of AI, Mittal highlighted advancements in call center operations and workforce management. He recounted a comparison from a decade prior when customer onboarding necessitated physical paperwork and labor-intensive processes, which seem archaic today. He elaborated, “Similarly, you go 10 years forward, some of these repetitive jobs will disappear. But have we suffered on account of the earlier adoption of electronic medium? We have not. We’ve added more jobs in different spaces, different parts.”
In closing, Mittal expressed optimism for the future, anticipating that AI will inspire innovative ideas and contribute to the establishment of new businesses and job sectors.
