AI will cause two-fold increase in employee productivity in India by 2021

According to a study by Microsoft, Indian businesses hold positive viewpoints about AI's impact on future of jobs.

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A report by Microsoft reveals that in two years, India will witness a two times increase in employee productivity due to businesses adopting artificial intelligence.

The report is based on a study by IDC on behalf of Microsoft, and says that organisations that have embraced AI have witnessed concrete and positive results in terms of improved customer engagement, margins and competitiveness.

As per the report, in two years, AI will more than double the rate of innovation across organisations and will increase employee productivity in the country.

However, the report titled ‘Future Ready Business: Assessing Asia Pacific’s Growth Potential through AI’ also revealed that only one-third of the organisations in the country have begun adopting AI. But the good thing is that most Indian businesses and employees are willing to embrace AI and are rather positive about its effect on the future of jobs.

A good 64 per cent of business leaders and 63 per cent of employees surveyed are sure that AI will either help them to perform their current jobs better or make it less cumbersome by eliminating repetitive actions. Only 16 per cent of the business leaders are of the opinion that AI will give rise to new jobs, while 18 per cent of the leaders believe that technology will take the place of human workers.

However, it is a positive sign that about 85 per cent of the organisations wish to focus on skilling and reskilling their employees to make them ready for the future. A heartening number of organisations are looking to invest as much in human capital as in technology, if not more.

Clearly, businesses and economies that are still considering whether or not to embrace AI, are losing out on precious time and the benefits that come from adopting it.

The study covered 15 countries, including China, Japan, Korea, Australia, Malaysia, and Singapore. It surveyed 1,605 business leaders, and 1,585 employees, of which 200 business leaders and 202 employees were from India.

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