NEW DELHI: Artificial Intelligence (AI) will be one of the most powerful forces shaping the future global economy and geopolitics, according to Bharti Group Chairman Sunil Mittal.
Speaking at the NDTV World Summit, Mittal emphasised the transformative power of AI while warning of the potential risks it poses, particularly in terms of fraud and misuse.
Mittal recounted a personal experience to highlight the dangers of AI misuse. A senior finance official from his company, stationed in Dubai, received a fraudulent call mimicking Mittal’s voice, attempting to authorise a large fund transfer.
Fortunately, the official was alert and recognised the scam, but Mittal admitted he was shocked by the accuracy of the voice mimicry when he heard the recording.
“It was perfectly articulated as I would speak,” he said, acknowledging that anyone less vigilant could have easily fallen victim.
Inherent risks
He stressed that as AI technology advances, criminals will find even more sophisticated ways to exploit it, including faking digital signatures and faces in virtual meetings. Mittal cautioned that while societies must protect themselves against these threats, they also cannot afford to ignore AI’s immense benefits.
“Those companies and nations that do not adopt AI will be left behind,” he said, highlighting the delicate balance between embracing AI’s opportunities and mitigating its risks.
No one can ignore AI
On the question of AI’s impact on jobs, Mittal acknowledged that the technology is already transforming his own business by streamlining processes and eliminating repetitive tasks. For instance, onboarding new customers used to involve physical paperwork and coordination between multiple centers.
“In just 10 years, it seems like a joke,” Mittal remarked, noting how AI has automated much of that process.
He admitted that some jobs – especially routine and mundane ones – are at risk, but emphasised that new roles and opportunities are emerging as a result of AI.
Efficiency gains
“We are seeing huge efficiency gains in our company due to AI, which means fewer people are needed for certain tasks. But equally, new jobs are coming through,” he said, particularly in areas like call centre management and workforce optimization.
Despite the challenges, Mittal remains optimistic about AI’s potential to unlock new industries and create opportunities. “We’ve seen this before with other technologies – jobs in certain areas disappear, but new ones are created in their place. I believe AI will do the same,” he said, expressing confidence that innovation and adaptation will continue to drive growth and job creation in the AI era.
Mittal’s message was clear: while the rise of AI comes with significant challenges, especially in safeguarding against misuse, the technology’s potential to drive progress far outweighs the risks if properly managed.
