Recently, InMobi axed 5% of their workforce as they appointed an AI-first approach.
InMobi followed Paytm's footsteps in AI adoption as Paytm laid off about 1000 workers, saving them 15% in employee costs
Most of the Indian startups have also started deploying AI which is resulting in retrenchment across various verticals.
As per a report on ServiceNow and Pearson's study, AI and Automation will lead to reskilling and upskilling of 16.2 Mn workers in India by 2027, while creating 4.7 Mn new tech jobs in the same period
Last year, Tata Sons chairman N Chandrasekaran said AI will create more jobs in India. He said that AI will empower individuals with minimal skills to perform higher-level jobs by providing them with information skills.
Meanwhile, OpenAI founder Sam Altman recently said that while AI may cause some disruptions in the global job market, it will also create new employment opportunities.
The AI talent pool in the country is also growing rapidly, with the country now one of the top five fastest-growing AI talent hubs globally, as per a LinkedIn report.
As per an Inc42 report, there are over 70 generative AI startups in India and such startups have raised funding of over $440 Mn since 2019.