Zoho CEO Sridhar Vembu warns that advances in AI and automation could bankrupt the middle class, not just reduce jobs. He emphasizes the economic impact of AI, saying it could substantially reduce product prices, but people might not have income to afford these. Vembu calls for government intervention in creating systems that ensure equitable wealth distribution, pointing that AI's effect on job numbers and productivity remains modest for now.
Zoho CEO Sridhar Vembu warns that advances in AI and automation could bankrupt the middle class, not just reduce jobs. He emphasizes the economic impact of AI, saying it could substantially reduce product prices, but people might not have income to afford these. Vembu calls for government intervention in creating systems that ensure equitable wealth distribution, pointing that AI's effect on job numbers and productivity remains modest for now.