FAISALABAD: Artificial Intelligence (AI) will dominate the global setup in near future and Pakistan must take proactive measures to adopt it in order to compete with the fast-changing global demands, said Engineer Ahmad Hassan Chairman FCCI Standing Committee on R&D.
Chairing the monthly meeting of the R&D, he said that IT and digitalization would entirely change the global face and countries like Pakistan must grasp this knowledge to survive respectfully in the global scenario. Commenting on the importance of AI, he said that 86% of business houses have already become a part of mainstream IT technology while 80% of B2B market executives confess that IT has already revolutionized their sector.
Engineer Ahmad Hassan said that no doubt AI would substantially eliminate the traditional jobs but at the same time it would create approximately 97 million jobs in the AI sector by 2025.
“In this situation, 50% of global employees would need re-skilling by 2030,” he said and added that robots would take over up t o20 million factory jobs in 2030. He further said that 85 million global jobs would be displaced by AI in 2025. He also dwelt at length on the importance of AI and said that it may affect the countries where cheap human resources are available in abundance.
About the projected AI contribution to the global economy by 2030 he said that its quantum would swell to 15.7 trillion. Pakistan and the private sector must understand the fast-impeding challenges and prepare its youth to get a lion’s share in an AI dominated global economy.
He urged the technical institutions to reprioritize their strategy and equip youth with AI so that they could not only earn their own livelihood but also earn precious foreign exchange for the country.
Former President FCCI Muzammil Sultan said that the government should revive the green financing scheme to encourage use of solar energy instead of depending on the costly fossil fuel. He appreciated the gesture of Engineer Ahmad Hassan to highlight the importance of AI and said that we must share this information with institutions like FAST so that they could redesign their syllabus to meet the future needs.
He said that we must equip our youth with new technologies at the school level and in this connection TEVTA should come up with tangible programmes. He said that meetings of R&D should be held regularly on a monthly basis to create awareness among the business community about the emerging trends at the global level.
He also stressed the need to introduce a public transport system in Faisalabad by using solar or electric vehicles. “It would help us to overcome environment related problems in addition to resolving the commuters’ issues,” he concluded.
Copyright Business Recorder, 2023
Comments
Comments are closed.