New research from Accenture predicts that 31 per cent of working hours in India will be either automated or augmented by generative AI technologies. This is projected to lead to a 0.6 percentage point increase in the country’s GDP growth annually and contribute an additional USD 675 billion in economic value by 2038.
Industries such as Capital Markets, Software and Platforms, Banking, Insurance and Retail are expected to see the biggest changes globally, with automation or augmentation affecting 49 per cent to 71 per cent of working hours.
Generative AI is expected to impact 33 per cent of working hours across APAC, with Australia and Japan seeing the highest impact at 45 per cent and 44 per cent, respectively.
However, the research also found that only 4 per cent of business leaders have implemented generative AI training at scale. While 89 per cent of businesses plan to increase spending on AI, only 35 per cent prioritise workforce development.
In a statement, Saurabh Kumar Sahu, Lead for India Business at Accenture said, “The scaled and responsible deployment of generative AI can not only drive revenue growth, but also act as a force of change that can reinvent almost all functions across industries. To unlock its real value, businesses need to have a bold vision for reinvention anchored in a strong data and technology foundation. This coupled with an intentional approach to skilling is crucial to succeed in the age of generative AI.”
The research also stressed the importance of skill development as organisations embrace generative AI. Although a majority of business leaders acknowledge the technology’s importance, only a small fraction has implemented comprehensive training programmes. This gap in preparation could hinder the effectiveness of AI integration if not addressed.
