BENGALURU: KPMG conducted a survey in which the company revealed– about 70 percent of Indian CEO’s are afraid of the automation and market disruptors. As reported by the survey, company’s CEOs are worried about being stable in the current competitive market. Top-executives have revealed that market disruptors and automation transformation has shaped market compatibility with other counterparts. As reported by the Business Insider website, the current Indian market is going for a palpable change in accepting new technologies and automated processes.

According to the survey dubbed as KPMG’s 2016 India CEO outlook, 60 percent of top executives believe that India is not far from adopting automation as it will eliminate 5 percent of the manpower. Same goes for the market disruptors as 81 percent believe new competitors are disturbing current business models. Whereas, about 84 percent of CEOs are worried about the products and services that can sustain for the course of next three years.

About 125 CEOs participated in the survey conducted for finding various concerns about marketing susceptibility. Many CEOs also revealed about the lack of information blocking the path of customers using their products and services and how it has impacted their effective business operations. A report revealed by a US-based research firm HfS suggested that in the next five years 6.4 lakh low skilled workers of Indian IT service industry will lose their jobs because of the sudden upsurge of automation.

Mohandas Pai, CFO and HR Head of Infosys said, about 10 percent of newly created jobs in IT sector will cut off after some time. It means if 2 to 2.5 lakh jobs will be created every year, then about 25k-50k will be cut down because of automation. Implementation of latest technology worries 82 percent CEOs while 92 percent of them are worried on how to implement automated process with their cognitive process and artificial intelligence.

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