Mumbai: A likely recession, global geopolitical unrest and cyber security are the three main concerns of Indian business leaders, as companies seek to find balance between artificial intelligence adoption in key business operations and data privacy, said JP Morgan.
Nine out of 10 business leaders expect growth in profit and revenue, but also expect increased capital expenditure and higher credit, a survey of 300 top corporate executives showed.
“Local business leaders have confidence in the economy despite ongoing global economic and geopolitical challenges, as well as the potential of a global recession,” said Pranav Chawda, head of commercial banking India, JPMorgan.
Majority of Indian businesses expect costs to keep rising this year due to the likelihood of inflation remaining reasonably high. About 65% of these businesses said that introduction of new products, expansion into new geographical markets and partnerships will be part of growth strategy.
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