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Identify opportunities and challenges in world of fast technological changes: VC Prof Geol
"To bridge the gap in knowledge and skills in changing global dynamics guided by greedonomics (economics of greed), we need reskilling, reassessing and enhancing skills continuously. We have to identify opportunities and challenges in technological change which is fastest in present times of consumerism and commercialization. We need to change our looks, actions and words to make it the law of the land by treating fear as false evidences appearing real," opined Professor MM Goel, economist and Vice Chancellor, Jagan Nath University, Jaipur.

He was speaking as the chief guest of a national seminar on "Changing Global Dynamics and Management Practices" organized by School of Commerce and Management, IITM University in Meerut on April 26.

Artificial Intelligence (AI) is the challenge and opportunity calling for preparation to capitalise highly skilled employees and creativity to flourish. The fear of reduced jobs with AI but it replaces tasks not jobs with 60 percent of occupations, at least one third of activities could be automated (50 percent of paid work but 5 percent jobs). There are implications of AI for workplace transformations and changes for all workers, believes the VC. 

The universities need to identify new courses of wellness, happiness and parenting to cope up the challenges for admissions, said Professor Goel. 

For encouraging job-led growth, we need to support entrepreneurial spirits among Indian youth with median age of little less than 30 by making them careful and useful, told Prof. Goel. 

Global dynamics depict maximalism with all its merits and demerits whereas we need minimalism to take care of our needs and not greed. The time has come to use minimax strategy (minimising the possible loss by decision rule in AI as worst case). Maximin strategy needed to maximise the minimum gain to face the challenges of global dynamics, believes Professor Goel.

We need to transfer goodness as culture honestly to the next generation, told the VC.

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