Budget 2017: When Banks Turn To Robots To Man Their Branches

Artificial intelligence and automation are now considered to be amongst the biggest threats to job creation and industry voices across the board agree that so-called traditional jobs may soon cease to exist. According to Infosys' chief executive officer, Vishal Sikka, advances in technology removing a lot of mechanical and scripted jobs, besides many related to business process outsourcing, IT and IT infrastructure operations. But automation will also lead to creation of a new set of jobs, Sikka added. Around 20 crore middle class young people would have no jobs by 2025 if our education system doesn't keep pace with the changes in automation and technology, Mohandas Pai, the chairman of Manipal Global Education Services told BloombergQuint in an interview. And the level of automation is only going to get higher. Both ICICI and HDFC Bank say this is only the start, and there's a lot more to come.