The founder of Marcellus’s investment managers, Sarabh Mukherjea, sounded the alarm on the complacency of the middle class of the middle class of India in the face of the growth of AI disturbances.
Using the Naukri job index as a measure, Mukherjea explained that if the West faces labor shortages and an aging population, India, with a median age of only 28 and 10 million graduates each year, faces a much more “disturbing” situation.
“The nature of free market economies-worrying situations will develop, but what makes me more disturbed, is that it does not seem to be a lot of realization that the situation is worrying,” he said in a podcast with Mint.
Mukherjea noted that if children aged 22 to 23 are naturally the hunt for jobs, he fears that professionals in the thirties and quarantine – those already deeply in their careers – do not financially provide for a future where employment security is rapidly eroding.
“I do not hear about them a lot of current financial planning … thinking that I am 40 years old today, I have 20 years of professional life left and I need to think very carefully about my finances,” he said.
He stressed that spending habits on vacation, electronics and cars seem to be deactivated with modest savings rates.
“The middle class debt in India, rather than savings, is among the highest in the world,” he warned, adding that the net financial savings of households are a hollow of 50 years.
Mukherjea predicts that many white passes will soon find themselves effectively workers, as well as lawyers, accountants or financial planners today. “I suspect that in India 10 years old, journalists, engineers, coders, Bot trainers-everything will be like that,” he said.
Repetitive tasks, especially in sectors like HR, will be increasingly automated by a generative AI.
“First, IT service companies and banks, then media houses, will replace HR with bots,” said Mukherjea, warning that stable office jobs could quickly pass to independent roles based on concerts.
Citing the former CEO of Google, Eric Schmidt, Mukherjea noted that in five years, the coders may no longer be necessary.
“I think that 2-3 years, so India will have to readjust itself quickly … Go from” graduate and find a job “to” graduate and become an entrepreneur “”, he said.
