'We will not fire anyone': Nithin Kamath shares Zerodha's new AI policy

Nithin Kamath, co-founder of Zerodha, announced that the company will not fire any employee because of AI.

In a tweet, Kamath said, "We will not fire anyone on the team just because we have implemented a new piece of technology that makes an earlier job redundant."

In a thread, he further said that after almost two years of not believing in the potential of AI taking over human jobs, the company finally thinks that AI will take away jobs and can disrupt society.

 

Kamath further warned that many companies will replace humans with AI. He said, "In the process, companies will earn more and make their shareholders wealthier, worsening wealth inequality. This isn't a good outcome for humanity."

 

With the rise of AI, popular leaders have insisted on regulations from various governments and policymakers that could control the growth of AI and make it systematic. This even led to an open letter by Elon Musk and several other tech leaders from around the world.

On regulations, Kamath said, “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."

 

Kamath also believes that the real impact of AI will not be seen immediately and that it will take a few years. He said, "Businesses with financial freedom should, if nothing else, give their teams that helped build the business time to adapt."

Back in January, Nikhil Kamath also a co-founder of Zerodha was asked about the potential of AI on the sidelines of BT Market Summit. He then said, "An AI takeover is unlikely, especially in markets as markets run on sentiments more than algorithms.”