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India's Life Sciences CEOs Scale AI, Digital Transformation for Global Leadership

A new KPMG report reveals that life sciences CEOs in India are decisively shifting from experimentation to execution, scaling artificial intelligence and digital transformation. The survey of 110 global leaders shows over 80% believe AI is crucial for growth, with 73% planning to allocate 10-20% of tech budgets to AI initiatives. CEOs are also focusing on strategic mergers and acquisitions and making talent development a central priority to ensure workforce readiness for AI. While cybersecurity remains a top concern, sustainability goals are increasingly linked to AI-driven operational improvements.

Key Points: India Life Sciences CEOs Scale AI, Digital Transformation: KPMG

  • CEOs scaling AI & digital transformation
  • High appetite for strategic M&A
  • Investing in workforce skills for AI readiness
  • ESG initiatives a top operational focus
2 min read

India's life sciences leaders scaling AI, digital transformation: Report

KPMG report: India's life sciences leaders are scaling AI, digital transformation, investing in workforce skills, and driving M&A for sustainable growth.

"India's life sciences sector is moving from aspiration to execution. - Vijay Chawla"

New Delhi, Jan 23

Life sciences leaders in India are scaling artificial intelligence and digital transformation, said a report on Friday.

The report by KPMG, which surveyed 110 global Life Sciences leaders, noted that life sciences CEOs in India are also investing in enhancing workforce skills, and the country is on track for sustainable growth in the sector.

"India's life sciences sector is moving from aspiration to execution. CEOs are scaling AI and digital transformation, pursuing M&A with strategic clarity, and investing in workforce skills," said Vijay Chawla, Partner and Head - Life Sciences, KPMG in India.

"By combining innovation with efficiency and leveraging India's talent base, the industry is positioning itself for sustainable growth and global leadership in a rapidly evolving healthcare and Life Sciences ecosystem," he added.

Globally, over 80 pc global life sciences CEOs believe AI is crucial for growth, reducing emissions, and improving energy efficiency.

The report showed that leaders are decisively shifting from experimentation to execution, focusing on integrating AI, strategically transforming their businesses through M&A, and reshaping their workforce to unlock a new era of innovation and efficiency.

While 86 per cent of CEOs reported a moderate-to-high appetite for M&A over the next three years, signaling a continued drive for transformation, 80 per cent noted adjusting their growth strategies to navigate interrelated market challenges.

Notably, 73 per cent of global leaders reported plans to allocate between 10 per cent and 20 per cent of their technology budgets specifically to AI initiatives. 65 per cent of CEOs anticipate measurable returns on these investments within the next three years.

However, as AI adoption accelerates, cybersecurity remains a critical concern for 84 per cent of CEOs.

Further, the report said CEOs are making talent development a central focus, acknowledging that 85 per cent believe workforce readiness for AI is crucial to achieving their goals.

For life sciences CEOs, executing ESG initiatives also ranks as the second-most important operational focus over the next three years.

About 80 per cent of CEOs believe that AI will play a significant role in reducing emissions and enhancing energy efficiency. As a result, sustainability objectives are increasingly translating into tangible operational improvements and financial gains, signaling a promising path forward for the industry

- IANS

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Reader Comments

P
Priya S
Good to see the focus on workforce skills. The real challenge will be ensuring this upskilling reaches beyond metro cities to tier-2 and tier-3 towns. That's where sustainable growth will truly come from.
V
Vikram M
The cybersecurity concern is very valid. As we integrate more AI, we need robust data protection laws and infrastructure. Patient data is extremely sensitive. Hope the CEOs are investing equally in security.
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Sarah B
Interesting to see the global perspective aligning with India's push. The 65% expecting ROI in 3 years seems optimistic but necessary. Hope this leads to more affordable medicines and faster drug discovery for diseases prevalent here.
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Rohit P
"From aspiration to execution" – that's the key phrase. We have great plans, but implementation is everything. Mergers and acquisitions need to be handled carefully to not create monopolies in our pharma sector.
M
Michael C
The link between AI and ESG goals is promising. If AI can help reduce emissions in manufacturing, that's a win-win for the industry and the environment. India has a chance to set a green benchmark.
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Nikhil C
Respectfully, reports like this often highlight the CEO view. I'd be more interested in a report from the scientists and lab technicians on the ground

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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