Business Economy


Institute for Human Flourishing (IHF) rolls out at UNGA to tackle AI-driven uncertainties in labor market

New Delhi, Sep 23 (UNI) As artificial intelligence (AI) continues to reshape the labor market, the India-headquartered Institute for Human Flourishing (IHF) formally launched on Wednesday at the United Nations General Assembly (UNGA).
IHF which is founded by global business leader Ravi Venkatesan and led by CEO Urvashi Aneja will begin its testing in India to help workers leverage the benefits from AI.
Basically it has three mandates :- (i) ensures AI raises Income (ii) expands agency (iii) creates opportunities for communities around the world.
Ravi Venkatesan, founder of IHF said, "India has the chance to show the world a different model- one in which AI becomes a tool for mass flourishing rather than mass displacement."
"It requires institutions that connect evidence, practice and policy. That's why we have built IHF" he added.
Interestingly, for India this opportunity is significant as nearly 90pc of the country's workforce is informal and AI could augment farmers, artisans and micro-enterprises at scale.
Currently, the entry-level information technology (IT) and Business Process Outsourcing (BPO) related jobs are thinning and export-led growth via cheap labour is weakening as automation caps wages.
In this scenario, IHF helps in creation of the livelihood lab, AI and jobs observatory and a Policy and Narrative program
The Government has also endorsed this programme, as S Krishnan, Secretary Meity, said, "India's approach to AI has been anchored in inclusion-- technology as a public good that expands opportunity for all."
"Building rigorous evidence on how AI can strengthen livelihoods, particularly in the informal economy, complements the government's efforts under the IndiaAI Mission. We welcome the institute for Human Flourishing's contribution to this agenda," he added.
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