Finance ministry report flags AI threat to human jobs

The economy is grappling with demand-side concerns and rising job market disruption from artificial intelligence, according to the finance ministry’s latest report.

The September Monthly Economic Review points to steady labour indicators but flags an emerging trend of AI replacing human jobs.

While the overall unemployment rate held steady at 3.2 per cent for fiscal 2023-24, buoyed by increased female workforce participation, the report highlights fresh evidence of AI-driven job displacement.