India’s life sciences leaders scaling AI, digital transformation: Report
New Delhi, Jan 23: Life sciences leaders in India are scaling artificial intelligence (AI) and digital transformation, said a report on Friday.
The report by KPMG, which surveyed 110 global Life Sciences leaders, noted that life sciences CEOs in India are also investing in enhancing workforce skills, and the country is on track for sustainable growth in the sector.
“India’s life sciences sector is moving from aspiration to execution. CEOs are scaling AI and digital transformation, pursuing M&A with strategic clarity, and investing in workforce skills,” said Vijay Chawla, Partner and Head – Life Sciences, KPMG in India.
“By combining innovation with efficiency and leveraging India’s talent base, the industry is positioning itself for sustainable growth and global leadership in a rapidly evolving healthcare and Life Sciences ecosystem,” he added.
Globally, over 80 pc global life sciences CEOs believe AI is crucial for growth, reducing emissions, and improving energy efficiency.
The report showed that leaders are decisively shifting from experimentation to execution, focusing on integrating AI, strategically transforming their businesses through M&A, and reshaping their workforce to unlock a new era of innovation and efficiency.
While 86 per cent of CEOs reported a moderate-to-high appetite for M&A over the next three years, signaling a continued drive for transformation, 80 per cent noted adjusting their growth strategies to navigate interrelated market challenges.
Notably, 73 per cent of global leaders reported plans to allocate between 10 per cent and 20 per cent of their technology budgets specifically to AI initiatives. 65 per cent of CEOs anticipate measurable returns on these investments within the next three years.
However, as AI adoption accelerates, cybersecurity remains a critical concern for 84 per cent of CEOs.
Further, the report said CEOs are making talent development a central focus, acknowledging that 85 per cent believe workforce readiness for AI is crucial to achieving their goals.
For life sciences CEOs, executing ESG initiatives also ranks as the second-most important operational focus over the next three years.
About 80 per cent of CEOs believe that AI will play a significant role in reducing emissions and enhancing energy efficiency. As a result, sustainability objectives are increasingly translating into tangible operational improvements and financial gains, signaling a promising path forward for the industry
IANS
