India’s finance minister isn’t afraid of robots

India’s finance minister isn’t worried about jobs being lost in the country’s manufacturing sector despite warnings that industrial robots will dramatically reduce the need for factory workers in coming decades. “I still have faith in human ingenuity, that even when jobs are lost in certain sectors … more jobs will be created because of that increased economic activity in other sectors,” Arun Jaitley told CNN’s Fareed Zakaria on Sunday at the CNN Asia Business Forum in Mumbai. Economists are increasingly concerned that developments in artificial intelligence and robotics will disrupt the business world in a similar way to previous industrial revolutions, leading to job losses. Robots are likely to be performing 45% of manufacturing tasks by 2025, versus just 10% today, according to a study by Bank of America. And…


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