Indian Economy: News and Discussion

[SKC]

LLM stands for large language model. They're aren't designed to do coding. Very soon, more advanced models designed for coding will be released, then we'll see the impact.

The firm will definitely pay for such subscriptions if it turns out to be cheaper than hiring FTEs. Essentially, productivity will increase, so number of resources required to do a job will decrease.

You are presenting it like there is a UI with a text bar where we will type: Give me 3-hour movie on this-hat topic and tool will give you output in 5 min.

Usually, these tools provide templates and framework, but you have to build your own program using them with lot of manual work.

 

[karn]

The software industry will ultimately meet the same fate as the manufacturing industry.

Once upon a time, mass recruitment was the norm in the manufacturing sector. Today, massive plants are being run by just a few dozen or a few hundred people.

Software engineer recruitment will face a significant decline, with numbers dropping considerably from today's levels.

The decline will happen but
not even close to the levels of the manufacturing industry.
To cause a general collapse a la manufacturing ai would need to be close to general intelligence . At that level there will be no white collar job remaining and most service jobs remaining viable.

 

[another_armchair]

AI will write code and also do unit & peer testing.

Developers can go hang themselves.

/laughsInAsm

 

[Crazywithmath]

The software industry will ultimately meet the same fate as the manufacturing industry.

Once upon a time, mass recruitment was the norm in the manufacturing sector. Today, massive plants are being run by just a few dozen or a few hundred people.

Software engineer recruitment will face a significant decline, with numbers dropping considerably from today's levels.

LLMs have been here for years now; just how many jobs have been directly affected? And AI isn't anywhere close to replacing devs/programmers yet - try creating a large complex project from scratch using GPT and you would understand what I am implying here. And lastly, AI is NOT a problem solver.

I have been reading all these sci-fi stuffs for years now - how self driving cars would replace car drivers, how automated MRTs and HSRs/SHSRs would replace train operators, how drones and UAVs would replace armed forces (as if real life warfare is a Japanese animated movie) and what not - how did those turn out, eh?

Stack Overflow has been online for over a decade now; did the number of active software engineers go down?

Increased automation has been a feature of post WWII industrial setups. How many jobs did it eat up? Are more and more people scavenging on the streets because they are jobless and can't afford shit? Did the quality of life go down? Is an average Joe worse off than his grandfather?

 

[Physx32]

You are presenting it like there is a UI with a text bar where we will type: Give me 3-hour movie on this-hat topic and tool will give you output in 5 min.

When did I say this? I wasn't even talking about Sora.

Usually, these tools provide templates and framework, but you have to build your own program using them with lot of manual work.

We don't have a proper model designed for IT and coding yet, how do you what the tool will do?

Read what I wrote twice before replying.

 

[Physx32]

how automated MRTs and HSRs/SHSRs would replace train operators

CBTC based GoA3 system has already replaced metro train drivers in Delhi Metro Pink line. ATO is essentially mandatory for achieving a high frequency (like 90s) in a system with PSDs.

This was a bad example.

 

[sauntheninja]

The software industry will ultimately meet the same fate as the manufacturing industry.

Once upon a time, mass recruitment was the norm in the manufacturing sector. Today, massive plants are being run by just a few dozen or a few hundred people.

Software engineer recruitment will face a significant decline, with numbers dropping considerably from today's levels.

This isn't a bad thing imo. Today most people join software engineering for just the money and the prestige nobody is interested in how stuff actually works under the hood. I tried discussing how to build hand written parsers with my coworkers and nobody is even interested in the technology all are obsessed over doing certifications. Look at the situations in the 90s when this field didn't have the money and prestige and look at the level of engineers at that time. This field is due a correction and hopefully by the end only people interested in it join the industry

 

[Crazywithmath]

CBTC based GoA3 system has already replaced metro train drivers in Delhi Metro Pink line. ATO is essentially mandatory for achieving a high frequency (like 90s) in a system with PSDs.

This was a bad example.

I should have been more specific.

Wrote in context of rapid rail/HSRs/SHSRs. Back in the '60s and '70s, automated high speed rails, maglev and hovertrains were touted as some of the safest, cheapest and most reliable alternatives to short/medium distance flights. 50 years on, very few nations have true SHSRs (let alone automated HSRs) and only two nations operate maglev trains (with at least some degree of automation). And driverless hovertrains never saw the light of day.

Automation did not take off the way it was projected to.

 

[angryIndian]

LLMs have been here for years now; just how many jobs have been directly affected? And AI isn't anywhere close to replacing devs/programmers yet - try creating a large complex project from scratch using GPT and you would understand what I am implying here. And lastly, AI is NOT a problem solver.

I have been reading all these sci-fi stuffs for years now - how self driving cars would replace car drivers, how automated MRTs and HSRs/SHSRs would replace train operators, how drones and UAVs would replace armed forces (as if real life warfare is a Japanese animated movie) and what not - how did those turn out, eh?

Stack Overflow has been online for over a decade now; did the number of active software engineers go down?

Increased automation has been a feature of post WWII industrial setups. How many jobs did it eat up? Are more and more people scavenging on the streets because they are jobless and can't afford shit? Did the quality of life go down? Is an average Joe worse off than his grandfather?

The thing is LLMs that you see today are an exponential jump over what we used to see in the 2017-18 era.
In those days I used to work on GPT-2 and the difference I find between GPT-2 and GPT-4 is the same as between a bicycle and F35 5th-gen stealth fighters.

All the AI work I did until 2020 is almost antiquated in 2024. Back then nobody could have imagined even in their wildest dreams that you could make a high-quality realistic video just by typing a few sentences.

Still, I'm not saying that AI will replace all humans in coding jobs, just that the mass recruitment of software engineers that we used to see until recently is very unlikely to happen in the future.

As for the impact of automation on manufacturing jobs. Even in India, you can see its impact with a significant portion of the repetitive and low-skilled labor force in factories being replaced by machines.

I remember giving an example of LPG plants on this forum some time ago.
Until the early 2010s, if you visited an LPG bottling plant, you would have witnessed the manual bottling of domestic cylinders. This process required 80-100 people to fill roughly 4,000 cylinders within an eight-hour timeframe. Today the labor force has been replaced by cutting-edge machines that can achieve a filling capacity of over 80,000 cylinders in the same period and those machines require no more than 4-5 people for maintenance and supervision.

 

[Tejbrahmastra]

 

[ListenLittleMan]

to share market gyanis in the forum, what is the logic behind LIC being in share market?

as in what does LIC do with market capitalisation ? do they invest this money, over and above what they get thru premiums?

To bailout loss making PSUs sometimes

 

[pankaj nema]

 

[Tejbrahmastra]

This time, India's rapid economic growth has legs

Factors that previously sapped momentum have finally been addressed

asia.nikkei.com

 

[Haldilal]

Ya'll Nibbiars

EKI Energy Services sets up biomass briquettes manufacturing plant in Maharashtra - ET EnergyWorld

Eki: Biomass briquettes, made from agri-residue such as sugarcane trash, corn cob, soya husk, tamarind, and pomegranate waste, serve as a substitute for coal in boilers and furnaces.

energy.economictimes.indiatimes.com

Confidence Petroleum: New Unit for Composite Gas Cylinders at Butibori Nagpur | Nagpur News - Times of India

Confidence Petroleum, a Nagpur based company, is setting up a new plant to manufacture high pressure composite gas cylinders in Butibori Nagpur. The cylinders can carry CNG, oxygen, nitrogen, and green hydrogen. Learn more about this innovative project.

timesofindia.indiatimes.com

Pyramid Technoplast acquires land to set up manufacturing unit in Maharashtra

BengaluruPyramid Technoplast Ltd. signs MoU for land acquisition in Maharashtra, plans to increase production capacity and revenue.

www.thehindubusinessline.com

Mumbai emerging as preferred startup destination, say founders, investors

The financial capital's fast pace of infrastructure development and increasing access to capital and talent is attracting startup founders and investors.

m.economictimes.com

 

[Haldilal]

Ya'll Nibbiars

 

[thebakofbakchod]

Naveen lays foundation stone of JSW’s Rs 65,000 crore integrated steel plant - Goa Chronicle

Bhubaneswar: Odisha Chief Minister Naveen Patnaik laid the foundation stone for the Rs 65,000 crore integrated steel plant of 13.2 MTPA by JSW Utkal Steel

goachronicle.com

13.2 MTPA steel plant, at the same site as the failed POSCO venture 20 years on. JSW will invest another 70000 crores in phase 2 to bring the capacity to 24MPTA. The MOU was signed a few months back

 

[thebakofbakchod]

Welspun Group sets-up textile facility worth Rs 3,000 crore in Odisha- Republic World

Textile Hub: Chief Minister of Odisha, Naveen Patnaik, on February 14 laid the foundation stone for the Rs 3,000 crore Welspun Group’s Integrated Textiles Manufacturing Facility and Warehousing Complex at Choudwar, Cuttack district.The proposed complex is expected to create employment for over...

www.republicworld.com

This facility will create 10000 jobs.

 

[thebakofbakchod]

https://www.manufacturingtodayindia.com/sectors/dixon-technologies-expanding-smartphone-manufacturing-capacity

https://www.manufacturingtodayindia.com/sectors/indias-first-supercapacitor-manufacturing-facility-operational-in-kannur

^ this is a very tiny company, built by a Kerala PSU Keltron, in collab with ISRO. It can produce just over 2000 capacitors a day, and close to 2 million a year once fully expanded. Amazing how no private company set up such plants. This is why having PSUs is a good thing. They need to liberaise PSUs to let them work more closer to how cheeni SOEs work or local private companies -> freely raise market share, no pensions, limited labour union etc.

 

[Marliii]

https://www.manufacturingtodayindia.com/sectors/dixon-technologies-expanding-smartphone-manufacturing-capacity

https://www.manufacturingtodayindia.com/sectors/indias-first-supercapacitor-manufacturing-facility-operational-in-kannur

^ this is a very tiny company, built by a Kerala PSU Keltron, in collab with ISRO. It can produce just over 2000 capacitors a day, and close to 2 million a year once fully expanded. Amazing how no private company set up such plants. This is why having PSUs is a good thing. They need to liberaise PSUs to let them work more closer to how cheeni SOEs work or local private companies -> freely raise market share, no pensions, limited labour union etc.

Buddy you better do some more research on keltron and their shady practices and corruption they are doing under commie rule.

 

[ym888]

https://www.manufacturingtodayindia.com/sectors/dixon-technologies-expanding-smartphone-manufacturing-capacity

https://www.manufacturingtodayindia.com/sectors/indias-first-supercapacitor-manufacturing-facility-operational-in-kannur

^ this is a very tiny company, built by a Kerala PSU Keltron, in collab with ISRO. It can produce just over 2000 capacitors a day, and close to 2 million a year once fully expanded. Amazing how no private company set up such plants. This is why having PSUs is a good thing. They need to liberaise PSUs to let them work more closer to how cheeni SOEs work or local private companies -> freely raise market share, no pensions, limited labour union etc.

Both state-owned and private enterprises in China are required to buy five kinds of social insurance for their employees, including pension insurance, medical insurance, work-related injury insurance, unemployment insurance and maternity insurance.