51% of respondents say AI will help increase productivity at work: PwC Survey

India can become a pioneer in incorporating AI into business if industry moves ahead with the right upskilling approach, suggests a PwC report titled ‘India Workforce Hopes and Fears Survey 2023’. As much as 51% of Indian respondents believe that AI will increase productivity as compared to 31% of global respondents, but provided their organisations support with upskilling opportunities.  

“Amidst the rising uncertainty and seismic impact of AI, the workforce is demanding more from their employers on all counts. The workforce is not settling with competitive compensation only—which continues to be a hygiene—but also deeper job satisfaction, and faster growth opportunities to fulfil their aspirations. To thrive, organisations and leaders will need to make some tough choices while blending adaptability with innovative workforce structures and career pathways for an ever-evolving landscape,” said Anumeha Singh, Partner, PwC India.  

The survey was based on responses from 2,502 participants in India and 88% of them were full-time employees. As much as 62% of Indian employees believe the skills required to do their jobs will change significantly over the next five years; 69% of them are also aware of how these requirements will change. India respondents are also 15% more confident as compared to their global counterparts that their employer will provide them with the necessary tools and opportunities to develop the requisite skill sets.  

The report also highlights that the Indian workforce is restless, with 42% of employees indicating that they are likely to change jobs in the next year due to expectations of better pay packages and promotions as compared to 26% globally. Additionally, 70% of Indian participants, as against 35% of their global counterparts, are willing to ask for a promotion. While a significant amount of organisational efforts are focussed on the younger generation, our survey found that managers and senior executives will also need attention.  

Kartik Rishi, Partner, PwC India, said, “Most Indian leaders are aware of the criticality of transforming their workforce for the future success of their businesses. Similarly, as their work and workplace are undergoing significant changes, employees in India are highly aware of the urgency to upskill, and it is increasingly becoming an important factor in their career decisions. However, organisations continue to adopt a much lesser focus on skills, especially those for the future, in their talent strategies and programs. Adopting a forward-looking, skills-first approach, which is integrated in their business processes, will be a key factor for leaders in sustaining businesses over the next decade.”

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Key highlights:

1. The Indian workforce is more aware of the need for upskilling

62% of Indian respondents agree that the skills required for their job will change significantly in the next five years, as compared to 36% of global respondents. Also, 69% of them are aware of how the requirements will change. The urgency to upskill is also reflected in the fact that 53% of Indian employees underline new skill development as a reason for picking up a secondary job compared to 36% of their global counterparts.

2. The Indian workforce is cautiously optimistic about taking a head-start and riding the AI wave

24% of Indian respondents believe AI would negatively impact the nature of their work, which is 10% more than the global average. Furthermore, 21% of Indian respondents believe AI will take over their jobs compared to 13% of the global respondents. The most common sentiment, expressed by 51% of respondents, is that AI will help them increase their productivity or efficiency at work compared to 31% of global respondents.

3. Indian employees are more likely to ask for a raise, promotion or switch jobs than their global counterparts

70% of Indian participants, as against 35% of their global counterparts, are willing to ask for a promotion (compared to 59% last year during the great resignation). Millennials are keener on pay raises (74%) and promotions (74%) than Gen Z, Gen X and boomers. Across levels, 73% of senior executives, 70% of managers and 63% of non-managers are expected to ask for a pay raise.  

4. A positive work environment in India has paved the way for empowered and fulfilled employees

73% of employees in India strongly or moderately agreed that they recommend their office as a good place to work, as against 51% of global respondents. 73% of Indian employees also underline that they can truly be themselves at work, and 64% of employees feel that they can choose how to do their work in a way that suits them.