Zerodha CEO Nitin Kamath Predicts AI Job Disruption, Believes Humans Can’t Compete with Intelligent Machines

In a world where technology threatens the livelihoods of countless workers, Nithin Kamath, the visionary founder, and CEO of Zerodha, defies the norm. With unwavering conviction, he boldly announced on Friday that the relentless march of artificial intelligence (AI) will not claim a single job at his company.

The founder and CEO of Zerodha, Nithin Kamath, tweeted that while they would never let any of their staff go due to technological advancement, there are legitimate worries that AI would displace workers and otherwise disrupt society. 

In a tweet, Kamath stated, “We will not fire anyone on the team just because we have implemented a new piece of technology that eliminates an earlier job. Our position has changed from 2021, when we hadn’t found any use cases for AI, to now, when we believe AI will eliminate jobs and disrupt society.

Kamath also used an AI-generated graphic to show the strength of generative AI in a different tweet. Today, a number of systems let people make AI graphics using straightforward text instructions. Websites like Dall-E, Bing Image Creator, and Midjourney are among the most well-known.

Kamath claims, “It is unlikely that humans will be able to compete with intelligent machines in many walks of life. I have never done digital art, but it took me a few seconds to create this image of a CEO being replaced by an intelligent machine in the style of Da Vinci.”

Speaking on the harm that AI is causing to workers, Kamath said “Many companies will likely let go of employees and blame it on AI. In the process, companies will earn more and make their shareholders wealthier, worsening wealth inequality. This isn’t a good outcome for humanity.”

Kamath added, “While the hope is for governments worldwide to put some guardrails, it may be unlikely given the deglobalization rhetoric. No country would want to sit idle while another becomes more powerful on the back of AI.”

Even the CEOs of Microsoft and Google, Satya Nadella and Sundar Pichai, have advocated for more responsible AI technology development and deployment. With Bing Chat and BARD, both businesses are vying for the top spot in the AI competition. Recently, Google Bard became available for free to all users worldwide.

Kamath stated that he is afraid that in the future, many businesses may use AI to fire workers in order to increase profits and increase shareholder wealth, increasing wealth disparity globally.

Will AI take your job?

Between 2016 and 2030, 400 million workers, or 15% of all workers worldwide, might be replaced by artificial intelligence, according to a McKinsey report. The business concluded that in a situation where AI is widely used, the share of employment lost might increase to as much as 30%.