Artificial Intelligence can pose a threat to jobs!

-CRED founder Kunal Shah warned

New Delhi (EMS). Kunal Shah, founder and CEO of financial technology (fintech) platform Cred, said that Artificial Intelligence (AI) could pose a threat to jobs in the coming 10 years. He expressed concern that many people underestimate the risks associated with AI, comparing it to something as simple as ChatGPT. Speaking at the Global Fintech Fest held in Mumbai, he said that we are not able to realize the risks of AI at the moment. He said, people are only understanding that AI chat is GPT but are not able to understand its far-reaching consequences. But I can say with certainty that 90 percent of the people who have jobs today will not have jobs in the next 10 years or their jobs will have no meaning.

Shah said that we are lagging behind in making ourselves more capable. Shah said that if only it were so, I would have created a clone of myself and set up 10 companies. I have not invested in any AI companies yet because I have not seen good quality in any of them. Shah said he invested only in startup companies. However, he said that startup companies in India are going to face a tough race as founders feel that they cannot operate startup units without capital.

Shah said that I think we should stop appreciating companies with valuations of more than a billion dollars. Instead we should appreciate those who have reserves of capital. He said, ‘I do not invest in mutual funds or stocks but only in startup companies. I do not do this just to make profits but work hard to take these companies forward. Shah said that I think India can produce good AI companies and possibly we can see such good companies in future. .