Yezdi Nagporewalla, CEO of KPMG India, has challenged the prevailing narrative around generative AI (GenAI), stating that it should be seen as a tool that enhances workforce capabilities rather than a replacement for human jobs.
“The first challenge is that GenAI is gaining a reputation that it will replace humans and jobs will be lost. In reality, AI needs to be combined with human experience,” he told CNBC-TV18..
This perspective is particularly significant as 86% of Indian CEOs (as opposed to 76% of CEOs globally) believe that generative AI will not fundamentally reduce the number of jobs, but will instead require a upskilling and redeployment of existing resources, according to KPMG 2024 India CEO. Outlook report, which was released on Thursday (October 3).
Nagporewala noted that AI could streamline processes and enable today’s workforce to address key business challenges effectively. He noted that KPMG India is already leveraging AI to improve productivity in areas such as technology and compliance. “In general, productivity and efficiency are expected to increase with the maturity of AI,” he added.
Hiring trends at KPMG also look promising for the future. “There is a sense that CEOs will hire year after year,” Nagporewala said. According to him, this is also a reflection of the dynamism or sentiment that Indian companies have.
The report also adds that 93% of Indian CEOs are looking to increase employee headcount in the next three years.
(Edited by: Shoma Bhattacharjee)
First published: October 3, 2024 19:07 IS
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.