Indian businesses see technology disruptors as opportunities, with 69 per cent of Indian executives seeing GenAI as an opportunity.
Amid the ongoing geopolitical crisis across the globe and a slowdown in global economic growth, about 67 per cent of Indian executives state that their CEOs are eager and open to taking risks to grow their businesses, according to a PwC report.
Highlighting India’s business ecosystem, PwC’s global risk survey 2023 revealed that 56 per cent claim their board has a similar risk appetite. Globally, these figures stand at 57 per cent and 54 per cent respectively.
Indian businesses see technology disruptors as opportunities, with 69 per cent of Indian executives seeing GenAI as an opportunity (as against 60 per cent globally). As per the PwC’s 2024 Global Digital Trust Insights (India edition), about 90 per cent of Indian respondents said that GenAI would help their organisation develop new lines of business over the next three years.
Apart from GenAI, 60 per cent of Indian respondents view both quantum computing and enterprise blockchain as an opportunity. Globally, the outlook is similar with figures of 53 per cent and 52 per cent respectively, the report added.
Notably, 64 per cent of Indian organisations have an enterprise-wide technology strategy and roadmap, which includes investment in technology specifically to drive resilience and/or manage risk. This is 11 per cent higher than the global average of 53 per cent. Additionally, 28 per cent of domestic organisations and 27 per cent of global enterprises have fully integrated the use of technology and data in risk management with regular updates.
The survey also revealed how organisations are using emerging technologies such as GenAI for risk management, with 48 per cent of Indian enterprises having deployed AI and machine learning for automated risk assessment and response to a large extent. “This is slightly lower than the global response of 50 per cent,” as per the report.
Courtesy : https://www.businessworld.in/article/Indian-Leadership-More-Open-To-Taking-Risks-Report/25-12-2023-503359/