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Need to create new products, start-ups, say experts

Millions of IT jobs will be replaced by machines in future as automation is cheaper than manual labour, according to experts.

lucknow Updated: Jan 30, 2018 13:09 IST
HT Correspondent
HT Correspondent
Hindustan Times, Kanpur
Start ups,Products,Services

Millions of IT jobs will be replaced by machines in future as automation is cheaper than manual labour, according to experts.

On the concluding day of the ‘Start-up Master Class,’ an initiative of the IIT-K Alumni Association, Lalitesh Kumar who is a pioneer in crowd sourcing, said nothing was more important than helping people create products and companies.

“When I launched my start-up I had no idea about the difference between product and technology. Now I feel we were smart enough to wait for the right company,” he said.

“Over 250 million IT jobs will be replaced by machines as automation is cheaper than manual labour. All you need is a product and the ability to scale it. We are a part of an infinity world and the only way out of it is to create more products,” he added.

He said the country would face the disappearance of 6-9% jobs due to automation.

Director of the Indian Institute of Technology-Kanpur (IIT-K) Prof Manindra Agrawal said the Board of IIT-K had approved the formation of a company which would look after the incubation centre at the institute.

The company, in association with the UP government, would provide internship to students.

He said Ravi Sakhuja, an IIT-K alumnus, always wanted to help the students in setting up social enterprises.

Sakhuja met the IIT-K director four years ago and told him that he wanted to help the students in developing entrepreneurial skills.

Prof Agrawal said the IIT-K would expand its plans to promote new ideas among the students. “After developing an idea the students can be taught how to nurture a start up. It isn’t something which you are born with,” he said.

“Small scale automation is the answer to India’s immediate agriculture problems,” said Raj Mohan another alumnus of the IIT-K.

During panel discussion, the speakers said jobs were declining and as per the global data most of the jobs were being created through start-ups.

The speakers said Indian mobile companies were making money despite the low cost of technology. “There are options and challenges to reduce the price of products to provide services to all sections of the society,” he said.

The panellists said one should have a sustainable idea for start-ups. “Do not go raising funds for it as somebody else would create the same or even better product. The pace with which you move with your idea is important,” they said.

First Published: Jan 30, 2018 13:09 IST