Number of Indian firms with AI-led processes treble in 2024: Accenture
Corporates are achieving 2.5X revenue growth compared to peers, and more than three times greater success at scaling generative AI use cases, the research found.
The number of companies in India that have fully modernised AI-led processes and intelligent operations trebled to 25% in 2024 from 8% in 2023, according to the latest research by Accenture.
Around 79% of the organisations in India that invested in generative AI and automation met or exceeded their expectations, with 64% planning to further strengthen these capabilities by 2026, per a statement from the global consultancy major.
The Accenture report titled ‘Reinventing Enterprise Operations with Gen AI’ found that globally, the number of companies that have fully AI-led processes nearly doubled to 16% in 2024 from 9% in 2023.
This has led to these corporates achieving 2.5X revenue growth compared to peers, and more than three times greater success at scaling GenAI use cases, the research found.
In India, these corporations already developed GenAI use cases in finance (76%), IT & security (65%), customer service (63%), and other core functions.
However, their challenges are far from over as a majority of the corporates are still struggling to change the way they operate, Accenture research found.
The reasons include organisations lagging in building a robust data foundation, with their data assets not ready for GenAI yet. Across the world, the deep dependency on people is often overlooked, as 82% of companies at the early stage of operations readiness, have not applied a talent reinvention strategy, planned to meet workforce needs, or acquired new talent or training to prepare workers for GenAI-led workflows.
Accenture said it surveyed 2,000 executives across 12 countries and 15 industries, including 200 senior executives, 81% of them CXOs, from companies based in India.
“Most executives understand the urgency of reinventing with GenAI, but in many cases their enterprise operations are not ready to support large-scale transformation,” said Arundhati Chakraborty, group chief executive of Accenture Operations.
The report also highlighted four key actions for business leaders to take to advance their operations maturity—implementing a centralised data governance and domain-centric approach to data modernisation, embracing a talent-first reinvention strategy, ensuring business and tech teams co-own reinvention, and adopting leading processes to drive business outcomes.
Edited by Affirunisa Kankudti