Generative artificial intelligence (AI) will not lead to a job famine but will actually create many more new and exciting jobs, said the CEO of EXL, Rohit Kapoor.

Speaking exclusively to CNBC-TV18, Kapoor said, "EXL is deploying generative AI to help clients increase productivity and is also looking to aid workers in helping customers make smarter decisions. We are aiming to use artificial intelligence to allow customers to self help and find solutions".

Highlighting the need for global coordination on AI regulations, Kapoor said that different regulations across jurisdictions could lead to errors and even biases in AI generated results.

"The biggest risk of AI is that you get false results, with the pretext that they are genuine. It is very difficult to verifiy the authenticity of the result. Imagine if you have different standards across countries, this will create friction and you will spend a lot of time trying to verify what is correct and what is not. This could actually lead to de globalisation". he said.

The EXL CEO highlighted that India had taken the right approach to making regulations on AI and he called for closer cooperation between US, Europe, India and other nations.

"Self governance is important and every company must be a responsible corporate citizen and must use AI and data responsibly", he added.

Founded in 1999, EXL is a data analytics, operations management and artificial intelligence solutions firm with operations across more than twelve countries. Listed on NASDAQ, the company reported revenues of $1.4 billion in 2022. The company employs 48,000 employees with a large part of operations taking place in India.

In accordance with the World Economic Forum's "Jobs of Tomorrow" white paper, produced in collaboration with Accenture, generative AI is poised to enhance creativity and automate routine tasks in future employment scenarios. The document highlights that AI tools have the potential to enhance the productivity of routine tasks across various sectors, ultimately making jobs more fulfilling and geared toward delivering higher value.

Watch the accompanying video for more

(Edited by : Ajay Vaishnav)