Capital no longer creates jobs, and AI is compounding the issue: Yatish Rajawat of Hundred Million Jobs
Rajawat, co-founder of Hundred Million Jobs, a non-profit aiming to create 100 million net jobs in India over the next decade, discusses India's shifting economic model during TechSparks. He contends that the link between investment and employment has weakened significantly. Automation began impacting factory floors roughly a decade ago and has since expanded into labor-intensive sectors like welding and forging. Modern robots now handle diverse materials and respond dynamically to their environment, not merely performing repetitive tasks. Rajawat references research by Nobel laureates suggesting technology eventually creates new jobs, but with a lag and often benefiting different demographi
Key points
- Capital no longer creates jobs at scale in India
- Automation has expanded from manufacturing to labor-intensive services
- Displaced workers rarely transition to new roles created by technology
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