Investing in generative artificial intelligence (Gen-AI) has emerged as the top priority for CEOs around the world, according to the recently released KPMG CEO Outlook 2023 survey.
Yezdi Nagporewalla, CEO of KPMG India in an interview with CNBC-TV18 stated that 58% of CEOs in India are actively discussing generative artificial intelligence (Gen-AI) and the challenges it presents. Gen-AI has rapidly emerged as a technology and a topic of great interest, with nearly three-quarters of CEOs worldwide closely monitoring its evolution.
"58% of the CEOs in India are talking about generative artificial intelligence (Gen-AI) and the challenges that it will throw. Gen AI has emerged as a technology and a topic that almost three fourth of the CEOs are watching and seeing how it pans out. There is also a recognition that Gen-AI is a new emerging disruptive technology and so they have already started investing in tools and alliances," Nagporewalla said.
The survey revealed that CEOs are closely watching the geopolitical landscape and political uncertainty. Furthermore, CEOs are also acknowledging the importance of environmental issues and climate change, as well as the challenges posed by disruptive technologies.
Despite the concerns regarding geopolitical and environmental challenges, CEOs across the world, including those in India, remain optimistic about their growth prospects. They see opportunities in mergers and acquisitions (M&A) as a means to enhance their market presence and capabilities. More than 50% of CEOs interviewed in the survey expressed their anticipation of engaging in some form of M&A activity within the next three years.
Yezdi Nagporewalla added, "In India, considering the government's emphasis on manufacturing and related sectors, we expect to witness a higher degree of M&A activity in these areas. Furthermore, M&A in technology is also anticipated, as businesses seek to bolster their tech capabilities and adapt to the evolving digital landscape."
Watch accompanying video for entire conversation.
First Published: Oct 23, 2023 9:58 PM IST
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