India doesn’t seem to have lagged far behind when it comes to automating their enterprises. Surprisingly, we are on top of the list and even ahead of China. Assurance, tax and advisory firm Grant Thornton’s ‘International Business Report’ stated that India has been ranked number one, when it came to embracing automation in operations and practices, as 83% of companies are either already automating business practices or may do so over the next one year, reported the Financial Express.
Companies are making this switch to lower costs, increase flexibility, and to match production to demand with greater accuracy. India was followed by Mexico and Ireland in the second and third place, respectively. Meanwhile, 59% Chinese firms are planning to utilise automated processes to perform tasks previously done by people.
Grant Thornton India, Partner, Raja Lahiri said, “Given the population size and the underlying economy growth drivers for India, automation and digitisation would probably be one of the key drivers to future growth.”
On an industry-wise basis, 43% of manufacturing firms said they expect this to eventually replace at least 5% of their workforce, followed by clean-tech, technology, and the food and beverage sectors. However, only 9% per cent of hospitality, education and healthcare firms expect 5% or more workers to be replaced.
The report also suggested that workers will get opportunities to assume new roles and responsibilities, created by this increased use of technology.
Grant Thornton, Global Leader for Technology, Steven Perkins explained, “History has proven that workforces are resilient and adaptable but the rise of intelligent machines, analytics and an ubiquitous ‘Internet of Things’ pose significant opportunities and challenges.”