workplace automation tools making Indian workforce nervous about their job security, almost 80% of the country's professionals want their routine tasks to be automated, compared to a global average of 51%.In a survey of around 10,000 professionals worldwide (10% Indian workers) by robotics process automation firm Automation Anywhere, Indian participants emerged as the most excited about experimenting with automation to reduce workload with 98% of them saying so. At 98%, India ranked highest (along with Singapore) in its openness to deployment of software bots at workplace. Globally, Singapore (98%), Mexico (97%), Brazil (97%), and Korea (90%) are other economies viewing automation as most transformative, and the global average stands at (91%).Almost 60% of the Indian participants said simple administrative tasks hamper work-life balance by making them stay late at office. India places huge emphasis on productivity and is a value conscious market, which makes automation of routine tasks … [Read more...] about Indians most open to workplace automation
automation, digitalisation and artificial intelligence(AI) in the automobile sector in post COVID era in order to improve resilience to future pandemics, industry experts said at ETAuto Roundtable on 'COVID-19 Lockdown: 5 Essential Aspects for the Auto Industry'.The coronavirus can be a wake-up call for supply chain managers and manufacturing companies as plant operation remain suspended amidst 21 days lockdown with an air of uncertainty if it will be lifted post that. The resumption of work may also face difficulties keeping in mind the health of employees and availability of workforce in the massive automobile factories. In a situation like this automation and robotics could reduce dependence on human labour and increase productivity, preventing the chances of future plant shutdowns.Vinod Aggarwal, MD and CEO, VE Commercial Vehicles said, "All these concepts like IoT, AI and digitalisation will become extremely relevant going forward and are going to define the new way of working. … [Read more...] about COVID-19 to bring in higher automation & digitalisation in Indian automotive sector: ETAuto Roundtable
Capgemini CEO Paul Hermelin believes automation could turn smaller towns in many countries into economic deserts as more technology work concentrates in larger cities.This could have an impact on elections as voters would look to reverse the impact of technology due to the resultant job losses in smaller towns.Companies globally have to look at new models to revive small towns as magnets for job creation, says Hermelin in an interview with Jochelle Mendonca and Ayan Pramanik. He added that the Indian IT sector would have to work to stay relevant in the time of digital innovation. Edited excerpts:In a panel at Nasscom, you said future elections would be fought over AI and automation. Please elaborate...Here we are heading into economic and political science. The corporate word for this is Schumpeter – with creative destruction. When there are revolutions or changes, there are some companies that die and others that appear and blossom.What we forget, is that when technology … [Read more...] about Automation will amplify small cities’ job crisis: Capgemini CEO Paul Hermelin
ETBFSI DeskReserve Bank of India on Monday said that processes for NPA identification, income recognition, provisioning and generation of related returns in all banks will now be automated. The decision was made after the regulator's observations on some banks that are still found to be resorting to manual identification of NPA and also over-riding the system generated asset classification by manual intervention in a routine manner. "In order to ensure the completeness and integrity of the automated Asset Classification (classification of advances/investments as NPA/NPI and their upgradation), Provisioning calculation and Income Recognition processes, banks are advised to put in place / upgrade their systems to conform to the following guidelines latest by June 30, 2021," RBI said. Some of the key takeaways: All borrowal accounts, including temporary overdrafts, irrespective of size, sector or types of limits, shall be covered in the automated IT based system (System) for asset … [Read more...] about RBI finally asks banks to automate reporting of NPAs
In the 1970s, Hollywood’s he-men wanted to be truckers: Kris Kristofferson in Convoy, inspired by the song; Burt Reynolds CB-slanging his way through Smokey and the Bandit I and II. Thelma and Louise took their revenge on a cat-calling trucker in 1991. Hollywood, presciently, had a cyborg drive a big rig in Terminator 2, and went full robot with Optimus Prime in the Transformers franchise. At the turn of the 21st century, the ever nostalgic hipsters’ love of trucker hats and T-shirts revived America’s fetishization of the long-distance driver. … [Read more...] about End of the road: will automation put an end to the American trucker?
Announcing the contract last week, Finance Minister, Zainab Ahmed, stated: “The main objective of this project is to completely automate every aspect of the customs business and to institutionalize the use of smart and emerging technologies that will enhanced the statutory function of the Nigerian Customs Service in the areas of revenue generation as well as trade facilitation and enhancement of security.” … [Read more...] about Customs automation contract draws the ire of stakeholders