Over 50% Of CEOs Investing In AI: KPMG INDIA CEO

Summary

In an insightful discussion on Business Today Television, Mr. Yesd Napura, CEO of KPMG, shares findings from the 2024 CEO Energy Outlook. He highlights a strong confidence among CEOs, with 78% optimistic about global growth and 80% regarding their own companies. Despite geopolitical concerns and regulatory pressures, particularly in the energy sector, CEOs are increasingly investing in AI, anticipating returns of 5-10%. The conversation also touches on sustainability goals, with many Indian corporates aiming for net-zero by 2030, while projecting India's GDP growth at 6-6.5%. The outlook emphasizes the interplay of corporate strategy and evolving economic landscapes.

Takeaways

• 😀 CEOs remain confident in global economic growth, with 78% expressing optimism despite ongoing turbulence.
• 😀 More than 80% of CEOs are confident about their own company's growth prospects in 2024.
• 🌍 Geopolitical concerns and trade regulations are significant challenges that CEOs are monitoring in the energy sector.
• 🤖 AI investment is a major factor contributing to CEO confidence, with over 50% investing annually.
• 📈 Two-thirds of CEOs reported a return on investment from AI, estimating returns of 5-10%.
• ⚖️ There is a persistent gap between sustainability ambitions and regulatory pressures that needs to be addressed.
• 🌱 Many Indian corporates are targeting net-zero emissions by 2030, indicating a commitment to sustainability.
• 📊 A renewed focus on ESG (Environmental, Social, and Governance) criteria is evident among corporate leaders.
• 🇮🇳 The GDP growth forecast for India is optimistic, estimated between 6% and 6.5% for 2024.
• 💡 Achieving a $5 trillion economy is deemed feasible, contingent on various factors aligning positively.

Q & A

What percentage of CEOs are confident in global economic growth for 2024?

78% of CEOs express confidence in global economic growth for 2024.

How many CEOs are optimistic about their own companies' growth?

Over 80% of CEOs are confident about their own companies' growth.

What challenges do CEOs highlight in relation to the current economic climate?

CEOs point out trade regulations and geopolitical concerns as significant challenges to monitor.

What trend is emerging regarding CEO investments in AI?

More than 50% of CEOs are investing in AI, with a trend of around 66% expecting a return on their investments.

What is the expected return on investment for AI initiatives according to the survey?

The expected return on investment for AI initiatives ranges from 5% to 10%.

What ambitious sustainability goals were mentioned in relation to COP28?

The goals include tripling renewable energy sources and doubling efficiencies.

How are companies in India responding to the net-zero target for 2030?

Most companies in India have set targets for net-zero emissions by 2030 and are working towards achieving these goals.

What impact did the elections earlier in the year have on India's economic momentum?

The elections caused a temporary loss of momentum in the economy, but confidence remains high for future growth.

What is the projected GDP growth for India in 2024?

The projected GDP growth for India in 2024 is between 6% and 6.5%.

What overarching theme did Mr. Yesd Napura emphasize regarding corporate strategies?

Mr. Napura emphasized the importance of adapting to technological advancements like AI while also focusing on sustainability amid regulatory challenges.