Automation and disruptors are giving sleepless nights to 70% of Indian CEOs, says KPMG survey

Results of a recent survey from KPMG say that India’s CEOs are worried about automation and disruptors, and are looking for newer ways to stay relevant in an increasingly competitive market.

The survey, called KPMG's 2016 India CEO outlook that saw participation of over 125 CEOs, says that 60% of the India’s top executives believe that it’s not long that automation will be adopted in the country, eliminating an estimated 5% of their manpower. Similarly, for disruptors, a whopping 81% believe that new entrants are disrupting their business models and 84% are concerned about the relevance of their products/services within three years.

Several CEOs think that they lack the information required to assess how their customers use their products and services, or whether or not their companies operate effectively.

As per a report by HfS, a US-based research firm, automation will eat up 6.4 lakh 'low-skilled' jobs in India's IT services industry over the next five years.

"I think in the IT sector, may be 10% minimum of incremental jobs that are created will disappear. That means every year if they do (create) 2 to 2.5 lakh jobs, 25,000-50,000 jobs will disappear," Mohandas Pai, CFO and HR Head at Infosys, told ET.

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