China is embracing artificial intelligence (AI) to invigorate its economy and address workforce challenges, according to policymakers and industry leaders. The country’s strategic move towards AI, unveiled during the parliament’s annual session, aims to counteract the effects of an aging workforce and economic deceleration by leveraging the technology’s job-creation potential in the next five years.
Shujing He, a senior analyst at consultancy Plenum, noted that the current focus on advancing AI adoption supersedes concerns about potential job displacement. This emphasis on the positive impact of AI on job creation allows policymakers flexibility to respond to any disruptive labor market shifts that may arise.
China’s Human Resources Minister Wang Xiaoping emphasized the country’s proactive stance in utilizing AI to generate employment opportunities for millions of university graduates, underscoring the significant role AI is expected to play in the job market.
While the International Monetary Fund (IMF) foresees AI affecting a substantial portion of global jobs, with advanced economies being particularly susceptible, some experts, including Alicia Garcia-Herrero from Natixis, express skepticism towards China’s optimistic outlook. Suggestions for implementing measures like universal basic income to mitigate potential negative impacts of automation were also raised.
China’s state-owned enterprises are also recognizing the transformative power of AI in reshaping job security paradigms. The country’s proactive AI strategy underscores its commitment to harnessing technological advancements for economic growth and employment opportunities.
Source: Tech-Economic Times