Artificial Intelligence (AI) exerts a dual force on the workforce, promising innovation-driven growth while harboring displacement risks. Globally, AI is set to create 170 million jobs by 2030, outpacing 92 million losses through productivity augmentation and new roles in tech and green sectors. In India, projections indicate 2.3 million direct AI jobs alongside redeployment opportunities, enhancing GDP via automation efficiencies. Perils involve 40% job exposure, skill polarization, and inequality, particularly in manufacturing and clerical domains. Reviewing five studies, this paper outlines objectives for balanced analysis, emphasizes policy imperatives, notes empirical limits, reveals net positives with reskilling needs, suggests interventions, and advocates strategic adaptation for sustainable labor markets.