Rajan Says AI to Disrupt India’s Services Sector, Not Derail

Artificial intelligence will be disruptive for India’s services sector, particularly the software firms, but warnings of a doomsday scenario are exaggerated, former Reserve Bank of India Governor Raghuram Rajan said in an interview.

“The Indian services story can still persist in many other areas outside of software, but yes, AI will be a challenge,” Rajan, a professor at the University of Chicago Booth School of Business, said Friday in an interview with Bloomberg Television’s Haslinda Amin and Menaka Doshi. “Things take time. The firms that are not technology-savvy will take more time. That is it.”