AI and Rising Global Powers
The article explains that artificial intelligence has effectively taken over many jobs, especially in the Information Technology sector, where it writes software and analyzes data at a faster pace and lower cost than humans. This has led to significant layoffs and rising unemployment rates. India is among the most affected countries, with a substantial decline in work within the IT and accounting systems sectors, threatening about 7% of its gross domestic product. Indian companies are trying to address this crisis by manufacturing intelligent robots, but China is leading the race in developing and deploying artificial intelligence. The article highlights that these changes pose a threat to the economies of emerging countries that rely heavily on exporting technology services.
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