Automation, skilling can bring in $282-bn profit globally: Infosys study

Digital tool automation, diversifying talent pool, and improving skill development can make up to $1.4 trillion in revenue and $282 billion in new profit for businesses across the world, according to Infosys’ Future of Work 2023 report

The company's research arm Infosys Knowledge Institute (IKI) surveyed 2,500 senior executives and managers involved in workplace and workforce planning for large companies with more than $1 billion in annual revenue. The survey covered 12 industries across the US, UK, France, Germany, Australia, and New Zealand. 

The 'Future of Work 2023’' report said automation and modernization of digital tools are set to become the top investment priority for firms in the next two years. 41% companies are planning to increase their hiring in remote working mode in the next two years.

Automation and modernization of digital tools are expected to bring in up to $123 billion in profits in the next two years. 65% of senior executives believe that incorporating remote working resulted in better staff retention

Almost two-thirds of senior executives practice remote working rather than in-office working and expect flexible or remote workspaces to grow in the future.

35% executives do not have a permanent desk in the office anymore. Shifting to a flexible, diverse, and digital work model may bring 7.7% higher profit growth and 6.7% higher revenue growth.