Anthropic‘s new AI tool triggered a sell-off in Indian IT stocks due to fears about AI‘s power to undercut traditional IT services. “IT services companies are already transforming – smaller firms can pivot faster than larger ones, but rapid change is imperative for all,” said Mihir Shukla, co-founder, chairman and CEO of Automation Anywhere, a San Jose, California-based software company that specialises in AI-powered robotic process automation. With deep expertise in global processes, India’s GCCs are well positioned to lead AI and automation initiatives, he told Sudhir Chowdhary at the India AI Impact Summit in New Delhi. Excerpts:
Do you see the ongoing AI shift has something bigger than the industrial revolution?
AI will redefine what work means across nearly every role, especially for knowledge workers. It’s a seismic change – unfolding much faster than the industrial revolution and happening globally all at once. In that sense, it’s the industrial revolution on steroids. Automation Anywhere is leading this charge with our customers realising immediate benefits from their adoption of our agentic process automation (APA) platform that enables end-to-end automation across the enterprise for business critical processes. We also have out-of-the-box, predefined agentic solutions that can be deployed quickly, for example, in IT service management, finance, healthcare, and banking.
Don’t you think many firms are rushing into AI, but face risks without proper orchestration and governance?
Many AI pilots are failing for two main reasons. First, organisations often overlook the need for strong orchestration and governance to manage AI within enterprise workflows. Second, they sometimes chase technology instead of focusing on outcomes.
With a large client base in India – including hundreds of enterprise customers, major systems integrators and numerous global capability centres – we have a broad view of how the country is adopting AI. What we consistently see is that successful organisations prioritise the right enterprise orchestration and governance.
Are enterprise customers seeing gains in productivity, efficiency and cost reduction?
We have hundreds of examples where this technology is delivering results. For instance, at a large bank, we’ve used AI to automate over 200 processes. In one case, every employee has access to a chatbot that checks whether an action complies with RBI regulations. This is just one example of how hundreds of thousands of employees are using AI to accelerate decision-making while improving efficiency and reducing risk.
What are the opportunities you see in the Indian market?
India has a tremendous opportunity in the AI wave. Just as China moved from manual to automated manufacturing, India can transform its vast knowledge-worker base by codifying deep process expertise into AI-driven models. With hubs like Bengaluru and Hyderabad driving global process excellence, India is well positioned to lead in AI and contribute significantly to the company’s global growth.
Our India operations have grown significantly over the past two years. We’ve expanded our deployment and recruitment of AI talent, and our business in India has quadrupled during this period, driving substantial operational growth. We also strongly support the “Made in India, Made for the World” mission – executing many projects in India, learning from them, and then scaling those innovations to other global markets.
Are Indian IT services companies ready for AI disruption?
IT services companies are already transforming – smaller firms can pivot faster than larger ones, but rapid change is imperative for all. The opportunity lies on two fronts: IT services firms and GCCs. With deep expertise in global processes, India’s GCCs are well positioned to lead AI and automation initiatives. This AI wave is a knowledge-worker opportunity, and both GCCs and Indian enterprises stand to benefit if they move decisively.
There are growing fears about job displacement too…
AI is disrupting many knowledge worker jobs and will transform industries. While the best available data suggests that AI will ultimately create more jobs than it displaces, AI job creation will happen over a period of time. However, one thing is certain: even if you don’t lose your job to AI directly, you could lose it to someone who knows how to use AI. Companies that delay their AI adoption are the ones that risk becoming irrelevant over the longer term. That’s why adopting AI is essential – there’s no room for delay.
As with every technological revolution, some roles will be disrupted and new roles will emerge. When the internet emerged, for example, traditional travel agents saw their roles change. Yet the overall travel industry expanded dramatically as access increased. AI will similarly require shifts in business models. The key question for companies is: where can AI increase demand tenfold? In those areas, new jobs and opportunities will be created.