Rapid Tech Change To Create New Swathe Of Have-Nots: Business Leaders

Davos: Rapid technological change threatens to create a new swathe of have-nots and displaced digital refugees, and the solution to this lies in technologies themselves, leaders say.

The leaders in a session on preparing for the Fourth Industrial Revolution at the World Economic Forum annual meeting said the accelerating pace of change driven by emerging technologies threatens to create wider income and opportunity gaps.

India's wealthiest man Mukesh Ambani, also the Chairman of Reliance Industries, said the key to preparing for the Fourth Industrial Revolution lies in technologies themselves.

"These technologies really are all-inclusive and will benefit all. In a sense, they are great equalisers. The rapid growth of e-commerce and digital cash in India is an example," Ambani said, adding that "the fastest way to transmit education in a big country like India is through technology".

Ambani also asserted that India is ready for the Fourth Industrial Revolution and technology innovations, especially with a strong leader like Prime Minister Narendra Modi, as has been proved by the success of the recent demonetisation move and the push for digital payments.

Focusing on education and promoting innovation are not new solutions to the challenges of inequality and marginalisation, Infosys chief Vishal Sikka said, adding that "education and entrepreneurship are the answers".

"When we talk about the Fourth Industrial Revolution, artificial intelligence and other technology disruptions... we (need to be) very careful that we don't create a bigger divide in society," Sikka said.

Asked whether there was risk of societal disturbances in India, Sikka said the country has tremendous opportunities as it is very technologically advanced and a young nation.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)