New Delhi: Indian CEOs are increasingly focusing on technology investments, particularly in artificial intelligence (AI), while remaining cautious amidst data security challenges, according to a report.
A significant 70% of CEOs are directing investments towards technology, including AI, aiming to drive growth and enhance productivity over the next 12 months. This figure surpasses the global average of 47%, as highlighted in the ‘EY CEO Outlook Pulse Survey’.
However, strengthening data management and cybersecurity (56%) and pursuing cost optimization across business operations (50%) are also identified as critical strategic priorities in the short term.
Additionally, the report notes that the acquisition of technology, new production capabilities, or innovative startups (44%) is the primary strategic driver for mergers and acquisitions (M&A) activities.
Mahesh Makhija, EY India Technology Consulting Leader, commented, “The commitment to technology investments reflects not only a response to current challenges but also a strategic leap towards future readiness. The survey underscores a strong momentum, with a significant majority of CEOs aligning their organizations towards an AI-driven framework for innovation and productivity.”
While a majority of CEOs recognize the growing importance of sustainability compared to a year ago, approximately 16% indicate a declining priority for sustainability, influenced by financial constraints and shifting boardroom priorities.
To advance the sustainability agenda, corporate India advocates for technology incentives, including AI, alongside subsidies and tax incentives for green technology investments, supported by governmental initiatives for sustainable infrastructure projects.
