Marcellus Funding Managers founder Saurabh Mukherjea has sounded the alarm on the complacency of India’s middle-class white-collar workforce within the face of rising AI-driven disruption.
Utilizing Naukri’s job index as a measure, Mukherjea defined that whereas the West faces labor shortages and an getting old inhabitants, India, with a median age of simply 28 and 10 million graduates yearly, faces a much more “worrisome” scenario.
“Such is the character of free market economies — worrisome conditions will develop, however what’s making me extra perturbed is there does not appear to be that a lot realization that the scenario is worrisome,” he stated in a podcast with Mint.
Mukherjea famous that whereas 22-23 12 months-olds are understandably job searching, he’s involved that professionals of their 30s and 40s — these already deep into their careers — are usually not planning financially for a future the place job safety will quickly erode.
“I am not listening to from them a variety of monetary planning happening… pondering that I am 40 right this moment, I’ve 20 years left of working life, and I have to assume very rigorously about my funds,” he stated.
He identified that spending habits on holidays, electronics, and automobiles appear out of sync with modest financial savings charges.
“Middle class debt in India, relatively than financial savings, is among the many highest on this planet,” he warned, including that internet family monetary financial savings are at a 50-12 months low.
Mukherjea predicts that many white-collar staff will quickly discover themselves successfully self-employed, very like legal professionals, accountants, or monetary planners right this moment. “I believe within the India of 10 years therefore, journalists, engineers, coders, bot trainers — all will likely be like that,” he stated.
Repetitive duties, particularly in sectors like HR, will more and more be automated by generative AI.
“First the IT companies corporations and banks, then media homes, will change HR with bots,” Mukherjea stated, warning that steady workplace jobs may shortly transition to freelance, gig-based mostly roles.
Quoting former Google CEO Eric Schmidt, Mukherjea famous that in 5 years, coders may not be wanted.
“I really feel 2-3 years therefore India must readjust quick… shifting from ‘graduate and discover a job’ to ‘graduate and change into an entrepreneur’,” he stated.
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