New Delhi: Zerodha founder Nithin Kamath has announced that his trade-brokering company has created an internal AI policy to give clarity to the team amid the AI/Job loss anxiety. He further informed that it wouldn’t fire anyone on the team just because they have implemented a new piece of technology that made an earlier job redudant.
The recent breakthrough developments in Artificial Intelligence (AI) has forced the company to rethink its previous thoughts. “In 2021, we’d said that we hadn’t found AI use cases when everyone was claiming to be powered by AI without any AI. With recent breakthroughs in AI, we finally think AI will take away jobs and can disrupt society,” Nithin Kamath said in the linkedin post.
In today’s capitalism, Kamath said, business prioritized shareholder value creation above stakeholders like employees, customers, vendors, the country, & the planet. Market incentivize business leaders to prioritize profits over everything else, if not shareholders vote them out.
Govt Would Resist To Make Tough Guidelines On AI
Speaking on the disadvantage to employees due to AI rise, Kamath said “many companies will likely let go of employees and blame it on AI. In the process, companies will earn more and make their shareholders wealthier, worsening weatlh inequality. This isn’t a good outcome for humanity.”
Kamath added: “While the hope is for governments worldwide to put some guardrails, it may be unlikely given the deglobalization rhetoric. No country would want to sit idle while another becomes more powerful on the back of AI.”
Source: Bureau
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