#MoneyTransferHuaEasy – Paytm Continues to Promote Money Transfers from Bank A/c with New Digital Campaign

- Launches 3 unique ads on digital platforms for raising awareness on direct bank transfers using mobile number

- Showcases easy of Money Transfers from Paytm app at Zero charge, without the need for Wallet KYC

- Paytm users get best-in-class security, super fast transactions and assured cashbacks 

India’s leading digital financial services platform Paytm has launched 3 new ads on social media, as part of its new #MoneyTransferHuaEasy campaign to raise awareness of how instant money transfer through the Paytm app remains a quick, safe and easy way to directly send and receive money into one's Bank accounts. The films, targeted at millenials, highlight how by simply choosing the recipient's Mobile number, users can transfer money directly from their bank a/c at zero charge. Without the need for wallet KYC. 

The films, which have been favourably received on social media, feature internet sensations Saloni Gaur, Danish Sait and Paytm's very own Abhinav Kumar.  

Prior to this, the company had launched multiple TV ads that had struck a chord with millions of Indians. While the public interest in the entire campaign has remained massive, certain scenes from the earlier ads have become especially popular due to the portrayal of episodes from everyday lives. These included a scene from an Indian wedding ceremony where the groom transfers money to his sister-in-law’s bank account by just using mobile number and in return, gets back his shoes from her, had a take on the popular Indian marriage tradition. Another scene of a young female tenant paying her rent through the Paytm app, to her landlord's shy son, also got major positive reviews.

With the latest series of films, the company has now released 6 large scale entertaining films as part of its initiative to highlight the ease of making digital payments without the need of completing their Wallet KYC. Apart from the obvious benefits, users are also assured of sturdy security architecture, the best success rate for transactions in the industry and a chance to win assured cashbacks.

Abhinav Kumar, Vice President at Paytmsaid, "Paytm remains committed to expanding the reach of affordable and easy to use technology, to every citizen. We believe that digital payments solutions are not only a great enabler in addressing daily challenges but also helps improve the quality of lives of our fellow countrymen. Consumers now have the option of instantly making payments directly from their Bank accounts, by simply entering the recipient’s mobile number on the Paytm App. No other steps such as Wallet KYC are required, while transaction charges are also absent. The new marketing campaign reflects that and is geared around taking forward this message to the consumers, making them aware of the digital payments options they have. It also aims to further promote our mission to increase seamless digital transactions across the country." 

Film 1: https://youtu.be/oNUwQ7Zirfo

Film 2: https://youtu.be/e2hjxPf0T4E

Film 3: https://youtu.be/6b0jFDTNGs0 

About 113 Students from Aakash Institute Qualify the AFMC MBBS 2020

* 7 secure rank in Top 10 in Girls Merit List and 4 secure ranks in Top 10 in Boys Merit List  

* Poyla Ghosh from Pune and Monalisha Kumari from Bhubaneshwar secure AIR 2 and 3 in Girls Merit list respectively

* Animesh Pawar, Aakash DLP student, secured AIR 3 in Boys merit list 

* AIR 2, 5, 12, 17 are from Aakash institute, Pune

* Total students qualified are 113 out of which 86 are classroom and 27 are from DLP and Digital courses

A whopping 113 students from Aakash Institute, the national leader in test preparatory services, have qualified the Armed Forces Medical College (AFMC) MMBS 2020 entrance examination, registering one of the best results in the AFMC MBBS examination in the test preparation sector in India, an impressive feat that speaks volumes of the faculty, curriculum and training at Aakash. Out of the 113, 86 students are from the regular classroom course of Aakash Institute while 27 students from DLP (Distance Learning Programme) & Digital courses have qualified the prestigious examination.

11 Aakshians Make it to the Top 10 in the Girls and Boys Merit Lists with 7 securing ranks in Top 10 in Girls Merit List and 4 securing ranks in Top 10 in Boys Merit List. AIR 2, 5, 12, 17 are from Aakash institute, Pune. 

Aakashians who secured impressive results are Poyla Ghosh from Pune who secured AIR 2 in the girl’s merit list; Animesh Pawar, Aakash DLP student and Monalisha Kumari from Bhubaneshwar secured AIR 3 in the boys and girls merit lists respectively; Krishi Gupta from Meerut and Divya from Chandigarh secured AIR 4 in the boys and girls merit list respectively; Sonali Diyawar from Pune secured AIR 5 in the girls merit list; Aditi Mahajan, Aakash DLP student secured AIR 7 in the girls merit list; Zareef Islam from Guwahati secured AIR 8 in the boys merit list; Rhea Rao from Mumbai secured AIR 9 in the girls merit list; Vaibhav Barfa from Indore and Ashi Anand from Kochi secured AIR 10 in the boys and girls merit list respectively and passed the AFMC’s screening test with flying colours. 

Congratulating the students, Mr. Aakash Chaudhry, CEO, Aakash Educational Services Limited (AESL), said, “We are proud that a significant number of students have qualified the AFMC entrance for MBBS 2020 course. The credit goes to the hard work of our students, the support of their parents and instructors who have guided them throughout their journey.  I wish them all the best for their future endeavours. We congratulate all our students for consistently working hard to achieve their goals.”  

The students credited the outstanding performance to burning the midnight oil and the excellent coaching provided by the faculty at Aakash. Armed Forces Medical College, set up in 1948, is a premier medical institute of India acknowledged as a centre of excellence in education and research. The college provides training to under-graduate and post-graduate medical and nursing students with assured career prospects in the defence services. 

AFMC MBBS 2020 screening test is conducted to offer admission in AFMC, Pune. Students are selected on basis of marks secured by them in the NEET entrance exam as well as in the screening test. 

This year the top 3 Rank holders of NEET 2020 are also students of Aakash, from its classroom and distance learning programs.

BR Shetty Stopped from Flying Out of the Country By Indian Immigration Authorities

BR Shetty, the founder of NMC Health was prevented from leaving the country by the immigration authorities. Shetty, along with his family were traveling to UAE by Etihad flight on Saturday at 3 am. He was not allowed to travel, when he approached the immigration clearance officials. Shetty has been embroiled in multiple cases for financial misappropriations and is under investigation by various authorities in India and UAE.  

Shetty’s healthcare chain, NMC Health is saddled with massive debts and unpaid dues. Shetty owes India’s state-owned bank, Bank of Baroda, over Rs.1850 crores. The bank has sued the defaulting businessman and the case is in Karnataka High Court. The courts have also paid heed to the bank’s plea and have attached 16 properties of Shetty, which were given as collateral to the bank.  

Shetty is also facing legal challenges in UAE and owes the banks in Dubai large sums of money. His defaults have led the Abu Dhabi Commercial bank in Dubai to file a criminal case against NMC. Shetty’s firms NMC and Finablr have borrowings worth $6.6 billions and nearly 60% of these borrowings have not been reported, thereby indicating the funds could have been diverted or siphoned off. Investigators have unearthed a series of transfers from NMC Health, to the tune of one million dirhams, transferred to his family owned entities. There are also reports of Shetty using NMC funds to fuel his lavish lifestyle and used the funds to purchase a private jet for $4.2m. 

BR Shetty had also signed on a slew of ambitious projects with various state governments in India and failed to fulfill any of them. Earlier this year, Karnataka State Cabinet scrapped the Rs. 450 Crore Jog Falls project with BRS Ventures. The MOU was signed for development and revitalization of Jog Falls but there was no progress and the project failed to take off. Shetty had  also announced the $2b medical city spread across 100 acres in Amaravati and signed an MOU with Telangana govt to set up a state of the art healthcare manufacturing facility, hospital and higher education hub, but none of them have seen the light of day.   

The travel restriction on Shetty are said to be initiated by the public sector bank, Bank of Baroda over the unpaid debts that Shetty owes to the bank.  

OVHcloud Expands the India Operations and Its Infrastructure

* OVHcloud has invested in the expansion of the workforce across Business and Enterprise support levels

* Over the last 6 months, OVHcloud has expanded its Bangalore office, with experts like Customer Success Engineers, Cloud Engineer and Developers

OVHcloud, a global player and the leading European cloud provider is expanding India operations through strategic investments in infrastructure and skilled workforce. OVHcloud is responding to India’s rapidly growing digital economy through localized solutions and investments across India's core operations and support functions to further its commitment to partners and resellers competing in the cloud solutions and web hosting market.

“India is a strategic market for OVHcloud and in line with its global strategy, OVHcloud aims to become a leading cloud provider, allowing customers to retain control over their data, by using a mix of public and private clouds. OVHcloud is expanding India operations through strategic investments by strengthening the local workforce and enhancing infrastructure framework for India,” said Lionel Legros, General Manager, Asia Pacific, OVHcloud

The company is strengthening its India infrastructure to reduce latency between India and Europe (where OVHcloud has 20 Datacenters) and also between India and Singapore where OVHcloud operates a Datacenter since 2017.

“The decision to expand our presence in India was a logical step in our business growth strategy. The country is rich with diverse talent from well-known prestigious colleges and universities and we have the opportunity to further expand staffing and capabilities in various functions to service current and future requirements” further added Lionel Legros.

OVHcloud invested in India through building R&D competencies followed by the sales team with the launch of its Partner Program. It also later launched a Support and Competency center to manage the support locally. As the next critical step, OVHcloud is focusing on the deployment of its infrastructure via a first Point of Presence.

A key USP is OVHcloud's ability to provide competitive pricing, owing to its self-established end to end value chain, from building servers to delivering services, and hence providing the flexibility and faster route to market. OVHcloud has registered buoyant demand from existing customers with India operations and is committed to remain transparent on where it hosts the customer's data.

Key Programs Driving OVHcloud India Market:

Partner Program: Launched 12 months ago, the Global Partner Program aims at organisations that support their end customers in migrating to OVHcloud solutions, both as resellers and service providers in fields such as integration, facility management, and consulting. They bring their own added value to cloud infrastructure solutions designed and marketed by OVHcloud.

Since the inception of the program, OVH has registered great success and collaborated with partners of different scale and size to cater to a wide spectrum of projects and use cases. It has onboarded global partners including leading brands such as Accenture and Capgemini, and hosting services and solutions providers such as IBNCloud, Zolute Consulting, Netsol Technologies, and Hosting Blue.

Growing India Focus and Talent Acquisition: A local infrastructure will be deployed later this year*, in Mumbai. This PoP (Point of Presence) will complete a network of 48 PoPs already deployed and aims to reduce the latency between India and Europe and also between India and Singapore where OVHcloud operates a Datacenter since 2017. The infrastructure investment will be instrumental in polishing the customer experience with better performance for local businesses.

The Mumbai PoP will also allow local customers to use the OVHcloud Connect, a solution allowing isolated and secured Interconnection between the local business network and OVHcloud Datacenters. It opens a new range of use-cases like Multi-Cloud and Hybrid Cloud projects.

Always on Customer Support: To ensure undisrupted customer growth and refined support, the OVHcloud Bangalore support office has a team with skilled profiles such as agents, engineers, and Cloud architects. The team is committed to deliver and support to Asia-Pacific based customers, for the following levels, Standard, Premium, and Premium for Partners. The team of Cloud architects also manage migration assessments, pre-sales consultation, Community workshops (Vmug), and architecture review.

Despite the challenging situation because of the COVID-19, OVHcloud is committed to the Indian market has continued to deploy recruitment plans in the Bangalore office. Over the last 6 months, OVHcloud has expanded its Bangalore office, with experts like Customer Success Engineers, Cloud Engineer and Developers. Reaching now more than 60 collaborators, the Bangalore office has enough expertise to provide sales and technical support to Indian businesses looking for Cloud solutions and Web hosting services.

OVHcloud will also invest in the expansion of the workforce in the next months across Business and Enterprise support levels.

About OVHcloud

OVHcloud is a global player and the leading European cloud provider operating 400,000 servers within its own 31 data centres across 4 continents. For 20 years, the Group has been leveraging an integrated model that provides full control of our value chain, from designing our servers to managing our data centres through to orchestrating our fibre-optic network. This unique approach enables OVHcloud to cover, independently, the full spectrum of use cases for our 1.5 million customers in more than 130 countries. OVHcloud now offers customers latest-generation solutions that combine high performance, predictable pricing, and full data sovereignty to support their unfettered growth.

* OVHcloud’s fiscal year cycle is from September to August.

FIWARE Foundation, IUDX Program Collaborate on Open Source to Provide a Standard Smart City Platform for Indian Cities

FIWARE Foundation, a non-profit organization that encourages the adoption of open standards — implemented using Open Source technologies — for the development of smart solutions on a global basis, announces today a joint collaboration with the India Urban Data Exchange (IUDX) Program toward building an Open Source platform that facilitates secure, authenticated and managed exchange of data amongst various data sources and consumers.

The IUDX platform is capable of harvesting data from many sub-systems enabling application developers to build new applications and services to help citizens. With the IUDX platform, citizens will benefit from the availability of more innovative and cost-effective applications and services. The cities themselves will also benefit from reduced development cost and faster development time frames enabled by a standard platform, together with the ability to choose vendors freely and thereby, avoid vendor lock-in. IUDX is being used by Indian cities to harness the full potential of the enormous data being generated across the country.

The power of collaboration

This partnership will pave the way for the development of a sustainable ecosystem around Open Source, standards-based, innovation-driven technologies to be used in India and globally. Following the collaboration, both organizations will jointly work on the following areas:

●       Joint adoption and contribution to standards: FIWARE and the IUDX Program will collaborate on joint adoption and contribution to standards. IUDX Program will adopt ETSI’s NGSI-LD Application Programming Interfaces (API) specifications for its resource server, which is the same standard adopted by the FIWARE Context Broker. The FIWARE Context Broker enables organisations — from public administrations to private companies — to collect, manage and share context of information. It is a dynamic system able to inform in real-time time what is currently happening in a given city, from traffic status to air quality data. The Context Broker technology was developed as the core component of the FIWARE platform.

This will allow FIWARE and the IUDX Program to benefit from a broad worldwide developer community as well as the large number of FIWARE compatible projects. FIWARE and the IUDX Program will collaborate on future contributions and enhancements to the NGSI-LD specifications. They will also collaborate on data models suitable for use in smart city applications. This work will be done in conjunction with the ongoing joint activity between TM Forum — an alliance of 850+ global companies working together to break down technology and cultural barriers between digital service providers, technology suppliers, consultancies and systems integrators — and FIWARE.

●       Creation of global application developer community: FIWARE and the IUDX Program will collaborate on the creation of a common global application developer community for smart city applications. The intent is that an application written for either FIWARE or IUDX runs on either platform with minimal modification. Applications developed on the IUDX 2.0 Platform — the deployment/ready to use version of the platform — will be compatible with FIWARE’s APIs and Generic Enablers, allowing such applications to be adapted and used by the FIWARE ecosystem on a global basis.

●       Use of common components and shared Open Source code: FIWARE and the IUDX Program will collaborate on the use of common components and shared Open Source code. As a first step, after the adoption of NGSI-LD APIs, the IUDX resource server will be listed on the FIWARE Catalogue as one of its Context Brokers. FIWARE will also adapt and integrate the IUDX Security Framework and offer it as one of its Generic Enablers. These steps will widen the choices for FIWARE’s partners and its growing community. The joint goal is to create a common Open Source repository for all smart city platform components and generic enablers, allowing cities around the world to build their own data sharing platforms using components best suited for their environments.

Common standards for APIs and data models are at the heart of platforms and digital infrastructures, enabling interoperability and portability of solutions. In order to successfully make it into the market today, new smart services and solutions must be able to securely communicate with other services and devices, traversing a multitude of infrastructures and systems. This way, solution providers benefit from knowing that their solutions can be connected with other applications or pieces of software — already developed and widely available — or that they can replicate them for multiple customers with rather low adaptation costs.

“The IUDX Program commitment to the development of Open Source technologies strongly complements FIWARE’s vision of building the foundation for a digital single market for smart solutions and further strengthens FIWARE’s recognised role as a driver of relevant standards and Open Source models. FIWARE is pleased to work with a partner that is central to India’s ambitious Smart City vision, with the initial target of impacting 100 Smart Cities. FIWARE has successfully integrated AI, Big Data, IoT, blockchain and robotic technologies into its technical roadmap, bringing support to the development of smart solutions that are radically improving the daily operations of multiple sectors. The collaboration with IUDX will further enrich and develop this vision”, said Ulrich Ahle, CEO, FIWARE Foundation.

Commenting on the collaboration, Dr. Inder Gopal, CEO, IUDX Program, said, “IUDX and FIWARE share a similar technical vision and a common approach to collaborative Open Source development. By setting up this close collaboration, we can speed up the adoption of shared standards and the creation of a global ecosystem of application developers, which Smart City deployments around the world can benefit from. IUDX and FIWARE teams will share code and concepts, undertake joint developments and speed up significantly their respective development efforts.”

This collaborative approach between IUDX and FIWARE is the result of a joint taskforce, supported by FIWARE Platinum members Trigyn Technologies and NEC as well as the IUDX Program’s Application Partners. This collaboration, together with the alignment of standards, will help the IUDX Program and FIWARE Foundation to broaden their offerings globally.

About FIWARE Foundation

Together with its members and partners, FIWARE Foundation drives the definition — and the Open Source implementation — of key open standards that enable the development of portable and interoperable smart solutions in a faster, easier and affordable way, avoiding vendor lock-in scenarios, whilst also nurturing FIWARE as a sustainable and innovation-driven business ecosystem. The Foundation achieves that through the support of a fast-growing global community that shares a common vision and combines their efforts toward making FIWARE the Open Source technology of choice for industries, governments, universities and associations to reach their full potential and scale up their activities, thereby, entering new markets and growing their businesses. Founded in 2016, the foundation has Atos, Engineering, NEC, Red Hat, Telefónica and Trigyn Technologies among its Platinum members. For further information, visit fiware.org and follow us on Twitter, LinkedIn, Facebook and Youtube.

About the IUDX Program

The IUDX Program supports India’s Smart Cities Mission within the Ministry of Housing and Urban Affairs (MoHUA) and facilitates the use of data to achieve the full potential of technology and innovation within Indian cities. It is set up as a multidisciplinary program within the Society for Innovation and Development in the Indian Institute of Science, Bangalore. The IUDX program addresses technical and non-technical issues related to the use of data to create public good. The Open Source platform developed by the program enables higher operational efficiency in city administration by facilitating the data exchange between various civic bodies, municipal departments, application developers and relevant data consumers. It has also received valuable financial support from Omidyar Network India.

Most Companies Continue to Struggle to Realize Full Business Value from their Cloud Initiatives, Accenture Report Finds

 

Despite years of focused effort, many enterprises are still struggling to realize the full value of their cloud investments, a new report from Accenture reveals.

In its latest report, “Sky High Hopes: Navigating the Barriers to Maximizing Cloud Value,” Accenture surveyed 750 senior business and IT professionals at large enterprises across 11 industries and 17 countries. It found that just 37% of companies say they are achieving the full value expected on their cloud investments — a mere 2% increase since Accenture’s original research report in 2018.

While value realization has never been more important, only 45% of business and IT leaders say they are “very satisfied” with their cloud outcomes, just a 1% gain over 2018. Moreover, just 29% are completely confident that their organization’s cloud migration initiatives will deliver the expected value at the expected time.

Accenture’s report highlights that, when businesses have gone more heavily into the cloud, outcomes are significantly better. Forty-six percent of high adopters report fully achieving their expected cloud benefits, compared to 36% of moderate adopters and 28% of low adopters.

Businesses recognize that they need cloud technologies for speed and agility to mitigate the major challenges they are facing and to drive transformational change to create new opportunities and value. According to the report, 80% of business executives now look to cloud as a means of mitigating business uncertainty and lowering risk. In addition, 87% view cloud as a critical component of their strategy for achieving their corporate sustainability goals.

“Cloud-based transformation offers companies the most powerful way to reinvent their businesses, unleash the expertise and creativity of their people, enhance their sustainability efforts and create new stakeholder value,” said Karthik Narain, global lead, Accenture Cloud First. “But the reality is that not every company is unlocking the full potential value of the cloud. In fact, our newest report shows a surprisingly small two-year improvement in returns on corporate cloud initiatives, suggesting that a more thoughtful and holistic approach is needed. Competing in the age of COVID-19 and beyond requires that companies implement a cloud-first strategy, in which every element of their business leverages the power of the cloud, right now.”

The research also examines what may be holding businesses back when it comes to driving their cloud agendas and achieving their goals. “Lack of skills” was most frequently included in CEOs’ top three perceived barriers (54%). “Security and compliance risk” was predominant among all respondents (46%), followed by “legacy infrastructure & application sprawl” and “misalignment between IT and the business” (both at 40%).

The findings also show that CEOs have markedly different impressions of cloud results and concerns than fellow C-suite leaders and high-ranking company officials: 54% of CEOs are completely confident in their organizations’ ability to deliver cloud initiatives with the expected value at the expected time, versus 34% of CIOs and only 28% of CFOs. 

“Our research findings point to the complexities involved in successfully executing cloud migrations that produce the anticipated business value. The good news is that by taking a rigorous, outcomes-centric approach to devising a customized cloud strategy, partnering with the right experts and addressing challenges outside of the technology itself, such as upskilling their people to be more productive, businesses can achieve the results and return on investment they’re seeking,” Narain added.

 

To extract the full business value of cloud technologies, Accenture recommends that organizations adopt fundamentally new ways of working, shifting to new operating models and developing new roles and skills. Four key areas for companies to address include:

Business value focus: develop an optimal cloud strategy anchored to comprehensive economic business cases to identify revenue upside and cost efficiency opportunities while aligning goals and putting company leaders on the same page.

People and culture change management: implement new upskilling and talent readiness programs, along with new operating models, to help transform and enhance how people work so they can better meet rapidly changing needs.

Data and AI: unlock industry- and function-specific data insights and intelligence trapped in legacy systems with the power of cloud data models.

Partnering for success: leverage the skills and experience of strategic partners to expand and enhance the organization’s existing capabilities. Cloud-managed services are often an option for companies looking to access the right skills while maintaining cost efficiency.  

Accenture’s new research follows the formation of Accenture Cloud First, which provides the full stack of cloud services to help clients across every industry become "cloud-first" businesses so they can accelerate their digital transformation, innovate faster, and create differentiated, sustainable value. Powered by 70,000 cloud professionals, and a $3 billion investment over the next three years, we bring together an unmatched depth and breadth of cloud experience and skills, industry cloud solutions, ecosystem partner capabilities and assets that help clients realize greater value from cloud at speed and scale. Visit us at www.accenture.com/cloud.

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 506,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities.

Talent Executives to Double their Efforts in the Next Two Years to Skill their HR Teams in New Capabilities: Reveals IBM HR 3.0 Study

A new IBM Institute for Business Value (IBV) study, “Accelerating the Journey to HR 3.0,” reveals that 7 out of 10 human resources (HR) executives report the global HR function is ripe for disruption. CHROs overwhelmingly agree that HR must be radically redefined. Guiding principles of personalization, skills at the core, data-driven decision-making, transparency and agility are all central to the journey to HR 3.0.

HR 3.0, which only 10 percent of companies have achieved globally, turns HR into an agile consulting organization; one that not only delivers efficient services, but also practices design thinking to push innovative solutions, cognitive tools, and transparency into the organization. Right now amid global disruption, employee skill development is key for organizations looking to stay competitive.

Skills have emerged as the new currency across businesses. 41% of companies in India make skills growth a key part of their performance management approach and close to 30% of Indian organizations have skills and capabilities in AI within the HR function.

Organizations are embedding AI and digital technology throughout the entire employee lifecycle. According to IBM, 25% of organizations in India are leveraging AI and analytics to make better decisions about their talent – such as skilling programs and compensation decisions.

“Human Resources has evolved greatly over the past decades to meet the needs of a changing business environment. To bring forth the new era of HR and drive transformation inside organizations - HR itself must be radically redefined. The world’s best companies are taking bold steps to accelerate their HR transformation with speed and purpose. We believe that HR 3.0 is the next evolutionary step, representing a major paradigm shift for CHROs and their teams”, said Mr. Chaitanya N Sreenivas, Vice President & HR Head, IBM, India and South Asia.

The new IBV study, “Accelerating the journey to HR 3.0,”conducted in partnership with global independent analyst Josh Bersin of the Josh Bersin Academy, includes insights from more than 1,500 global HR executives surveyed in 20 countries and 15 industries. Based on those insights, the study provides a roadmap for the journey to the next era of HR, with practical examples of how HR leaders at surveyed “high-performing companies” -meaning those that outpace all others in profitability, revenue growth and innovation -can reinvent their function to build a more sustainable workforce.

Additional highlights from the study include:

·        35% of Indian companies, believe that leaders empower teams to innovate by creating a strong sense of purpose

·        29% organizations in India are using AI to identify behavioral skills like growth mindset and creativity for building diverse adaptable teams and are reinventing their own HR function and technology architecture to make more real-time data-driven decisions

·        25% of Indian companies’ HR unit apply principles in design thinking and agile practices when building employee processes, journeys and solutions.

·        28%  of organizations in India said data-driven decision making powered by AI is critical to the future of HR

·        25% of companies are actively investing to upskill HR in new skills and capabilities

·        41% of outperforming companies in India make skills growth a key part of their performance management approach.

·        60% of HR executives in India agree leveraging data from new sources like financial data, social media data, etc. assist in making better decisions about talent

·        71% of companies in India believe a consistent HR architecture plays a critical role in adopting agile practices to optimize for speed and to respond quickly to change

·        In two years’ time, 53% of organizations in India, plan to adopt a continuous approach to assessing employee performance through regular, transparent career conversations

About the IBM Institute for Business Value  

The IBM Institute for Business Value (IBV) delivers trusted business insights from our position at the intersection of technology and business, combining expertise from industry thinkers, leading academics, and subject matter experts with global research and performance data. The IBV thought leadership portfolio includes research deep dives, benchmarking and performance comparisons, and data visualizations that support business decision making across regions, industries and technologies.