AI could add 2 percentage points to India's GDP; 70%-80% of future jobs don't exist yet: John Chambers
John Chambers said AI adoption is advancing five times faster than the internet revolution, urging companies and governments to focus on workforce training and innovation as the technology reshapes industries, economies and future employment.
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India could see a significant economic boost from artificial intelligence, with the technology potentially adding two percentage points to the country's GDP growth, according to John Chambers, Founder and CEO of JC2 Ventures and former CEO of Cisco.
In an exclusive interview with CNBC-TV18, Chambers said AI would reshape economies, industries and jobs at an unprecedented pace, while positioning India as one of the biggest beneficiaries of the technology revolution.
He also said the future labour market would look dramatically different from today, arguing that many of the jobs that will exist in the next decade have not yet been created.
"Ten years from now, perhaps 70% to 80% of jobs won't exist today," Chambers said, drawing parallels with the internet boom, which created entirely new industries and employment opportunities despite fears of job losses.
According to Chambers, AI implementation is advancing much faster than previous technological shifts. "The model is already there with the internet. The difference is that implementation is happening five times faster," he said.
While concerns about AI replacing jobs remain widespread, Chambers believes the technology's initial impact will be a sharp rise in productivity, followed by the creation of new roles and businesses.
"I think you're going to see a major productivity increase first. That's important for stocks, standard of living, and even inflation. But you are going to see a lag in job creation," he said.
Chambers criticised businesses for failing to clearly communicate the benefits of AI to workers and the public. "I think it's done a terrible job. We actually led with the negative, which you never do," he said, referring to industry's handling of concerns around job displacement.
He argued that companies should focus on training employees to work with AI rather than framing the technology primarily as a threat. According to Chambers, organisations that have not yet begun training their workforce on AI are already falling behind.
The veteran technology executive also praised India's approach to AI and digital transformation, saying Prime Minister Narendra Modi recognised early the importance of building a digital foundation and positioning the country to take advantage of the next wave of innovation.
"There is no bigger dataset than 1.4 billion people, and no bigger opportunity to scale companies," Chambers said.
Watch the full conversation here
He added that countries which fail to prioritise AI risk losing competitiveness. "If your country is not focused on AI, you're already in trouble. If you only started focusing on AI this year, you're probably already behind," he said.
Chambers said the relationship between India and the United States would become stronger over the next several years as both countries seek to lead in AI adoption and innovation. He believes leadership among nations will increasingly be determined by how effectively they implement artificial intelligence across their economies.
In an exclusive interview with CNBC-TV18, Chambers said AI would reshape economies, industries and jobs at an unprecedented pace, while positioning India as one of the biggest beneficiaries of the technology revolution.
"AI could probably add two percentage points to India's GDP and one percentage point to US GDP," Chambers said, highlighting the economic opportunity created by rapid adoption of the technology.
He also said the future labour market would look dramatically different from today, arguing that many of the jobs that will exist in the next decade have not yet been created.
"Ten years from now, perhaps 70% to 80% of jobs won't exist today," Chambers said, drawing parallels with the internet boom, which created entirely new industries and employment opportunities despite fears of job losses.
According to Chambers, AI implementation is advancing much faster than previous technological shifts. "The model is already there with the internet. The difference is that implementation is happening five times faster," he said.
While concerns about AI replacing jobs remain widespread, Chambers believes the technology's initial impact will be a sharp rise in productivity, followed by the creation of new roles and businesses.
"I think you're going to see a major productivity increase first. That's important for stocks, standard of living, and even inflation. But you are going to see a lag in job creation," he said.
Chambers criticised businesses for failing to clearly communicate the benefits of AI to workers and the public. "I think it's done a terrible job. We actually led with the negative, which you never do," he said, referring to industry's handling of concerns around job displacement.
He argued that companies should focus on training employees to work with AI rather than framing the technology primarily as a threat. According to Chambers, organisations that have not yet begun training their workforce on AI are already falling behind.
The veteran technology executive also praised India's approach to AI and digital transformation, saying Prime Minister Narendra Modi recognised early the importance of building a digital foundation and positioning the country to take advantage of the next wave of innovation.
"There is no bigger dataset than 1.4 billion people, and no bigger opportunity to scale companies," Chambers said.
Watch the full conversation here
He added that countries which fail to prioritise AI risk losing competitiveness. "If your country is not focused on AI, you're already in trouble. If you only started focusing on AI this year, you're probably already behind," he said.
Chambers said the relationship between India and the United States would become stronger over the next several years as both countries seek to lead in AI adoption and innovation. He believes leadership among nations will increasingly be determined by how effectively they implement artificial intelligence across their economies.
(Edited by : Prashant)
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