Left Menu
Development News Edition

Intelligent Automation Will Boost India's Economy to US $5 Trillion By 2024-25

PR Newswire | New Delhi | Updated: 07-02-2020 14:38 IST | Created: 07-02-2020 14:38 IST
Intelligent Automation Will Boost India's Economy to US $5 Trillion By 2024-25

Intelligent automation will catapult Indian economy to US $5 trillion dollars in the next five years, up from $2.7 trillion dollars, according to a new study commissioned by Automation Anywhere, a global leader in Robotic Process Automation (RPA.)

Today, automation is driving efficiencies for enterprises, resulting in dramatic productivity gains in the back office and enhanced customer experiences in the front office. According to the study conducted by Ernst and Young India (EY,) the country will experience a significant boost to its economy to reach US $5 trillion by as early as 2024.

The research, presented today at the IAMAI's India Digital Summit 2020, examined the economic impact of automation and found that large-scale adoption of automation technologies, such as RPA, artificial intelligence, natural language processing and machine learning will drive increased efficiencies and new jobs resulting in economic growth in the next few years.

"Our research shows that intelligent automation and RPA, in particular, will make businesses more efficient by automating business processes end-to-end, allowing organizations to become true digital enterprises," said Kamalanand Nithianandan, Partner, Advisory Services, EY India. "As more organizations adopt intelligent automation at scale, this will eventually create more high-skilled jobs providing more economic opportunities for everyone."

According to the report, automation is driving intrinsic growth in every sector of the Indian economy and is influencing every activity of the workforce by creating higher skilled jobs, resulting in more opportunities for workers and higher economic output.

Banking, insurance and financial services have emerged as key industry adopters of intelligent automation as they experience the benefits of lowering costs of business transactions and providing a differentiated customer experience.

Telecom, retail-consumer packaged goods, oil and gas, logistics and transportation organizations have also increased efforts to automate core business functions, driven by mandates to cut costs and improve customer experiences. According to the research, public sector and government institutions are deploying automation to enable the digital transformation of citizen touchpoints, which will ultimately reduce paperwork and improve the citizen - a key goal in further enhancing economic growth across the country. 

"As an Indian heritage company, Automation Anywhere is uniquely positioned to make an impact as our complete intelligent platform empowers businesses to bridge the gap between the front office and back office, making businesses more efficient and agile," said Milan Sheth, Executive Vice President, IMEA, Automation Anywhere. "We are helping thousands of government and industry entities embark on their automation journeys to unlock business productivity, thereby enabling India to catapult its economic growth."

For more information, download the full report here.

Interact with Automation Anywhere:

About Automation Anywhere

Automation Anywhere is a global leader in Robotic Process Automation (RPA), empowering customers to automate end-to-end business processes with software bots - digital workers that perform repetitive and manual tasks, resulting in dramatic productivity gains, improved customer experience and more engaged employees. The company offers the world's only web-based and cloud native intelligent automation platform combining RPA, artificial intelligence, machine learning and analytics right out of the box, to help organizations rapidly start and scale their process automation journey. With offices in more than 40 countries and a global network of 1,400 partners, Automation Anywhere has deployed over 1.8 million bots to support some of the world's largest enterprises across all industries. For additional information, visit www.automationanywhere.com.

Media Contacts:
Poulomi Choudhury
Automation Anywhere
Senior Manager
PR and Social Media, IMEA
Automation Anywhere

Photo: https://mma.prnewswire.com/media/1087590/Launch_of_the_report_at_IAMAI.jpg

Download The Devdiscourse News App for Latest News.



Rising temperatures in India seem to counter the spread of COVID 19 infections

Scary predictions on the rate of spread of COVID 19 infections in India are floating in media. But the data on the spread of infections coming so far point to a contrary trajectory putting a question mark on such predictions. Explanations o...

Sanitation post-COVID 19: Tissue paper not in fashion, learn to wash

Tissue paper has failed COVID 19 test. The modern understanding of sanitation is passing through a stage of transformation. Those who used to feel proud of using tissue paper have been compelled to wash frequently their hands with soap. In ...

Globalization post-coronavirus to get a hit, self-sufficiency paradigm to rule

The massive scale of coronavirus outbreak, accompanied by uncertainty and fear, could lead to new behaviors and beliefs in the 21st-century population that is empowered with the internet....

Ayurveda for COVID 19: Professionals owe the responsibility to protect it from quacks and fake news

Indian Ayurveda professionals are lagging behind their foreign counterparts in handling quacks and protecting credentials of the Ayurveda at the time of COVID 19 pandemic. The professionals of Ayurveda cannot abjure the responsibility to co...


Latest News

INSTANT VIEW-Trump claims Russia, Saudi Arabia near deal to cut oil production

U.S. President Donald Trump on Thursday said he had spoken to Saudi Crown Prince Mohammed bin Salman and that he expects Saudi Arabia and Russia to cut oil output by 10 million to 15 million barrels per day, as the two countries signaled wi...

Building collapse: Three get bail due to coronavirus outbreak

In view of the coronavirus outbreak, a court in Mumbai has granted interim bail to three trustees of a South Mumbai building, which collapsed last year killing over a dozen people. The building trustees, Safdar Karmali, Barkat Unea and Shab...

Canada coronavirus cases rise above 10,000, death toll jumps 21%

Canada now has more than 10,000 coronavirus cases and the death toll has jumped 21 from a day earlier to 127, according to data posted by the countrys public health agency on Thursday.It said the number of cases had risen to 10,132 from 9,0...

Vietnam Airlines to lose $2.12 bln in revenue, cut staff this year

Vietnam Airlines will lose 50 trillion dong 2.12 billion in revenue as most of its 106-strong fleet has been grounded due to the coronavirus that has infected 227 people in the Southeast Asian country, state media reported on Thursday.Up to...

Give Feedback