A new report by ADP reveals that one in two Indian companies plan to adopt AI-powered payroll systems within the next 12 months, driven by the need for automation in workforce management, compliance, and compensation decisions. However, firms are increasingly cautious about data protection risks, especially with the implementation of the Digital Personal Data Protection (DPDP) Act, 2023.
Gold prices experienced a significant decline in futures trading due to uncertainty surrounding geopolitical tensions in West Asia and conflicting statements regarding the conflict. Investors are also awaiting key macroeconomic data for further direction on interest rate cuts.
The Indian rupee depreciated by 28 paise to settle at 93.44 against the US dollar, influenced by ongoing uncertainties surrounding West Asia peace negotiations, volatile crude oil prices, and the Reserve Bank of India's recent adjustments to non-deliverable forward market regulations.
The convergence of artificial intelligence, evolving labour regulations and rising employee expectations will redefine how organisations manage pay, people and performance in the coming year, a report says.
Precious metal prices, particularly gold and silver, experienced a significant surge in the national capital as investors sought safe-haven assets amid escalating hostilities in the Middle East.
Gold prices are likely to remain under pressure in the coming week as investors await key US macroeconomic data for cues on the Federal Reserve's potential direction on interest rates, which in turn will influence the trajectory for the precious metal, according to analysts. Market sentiment has tilted away from safe-haven assets like gold amid fading geopolitical tensions and improving risk appetite towards riskier assets such as equities, they said.
Rising for the sixth consecutive session, gold prices rallied Rs 1,000 to hit yet another record high of Rs 105,670 per 10 grams in the national capital on Monday, lifted by expectations of a rate cut by the US Federal Reserve this month and robust demand in overseas markets.
Knowledge workers and mid-career professionals in India are hopeful that artificial intelligence will positively impact their roles, even as concerns about job displacement persist, especially among younger professionals, a top official of a human capital management solutions provider has said. At a time when AI has become a critical part of an organisation's functioning, many professionals see the positive possibilities of AI.
Rising inflation and stagnant wages are forcing a number of salaried professionals to venture into the bike taxi service as part-time riders.
Workers' expectations around the pay rises this year have skyrocketed in India, with 90 per cent of people interviewed are looking for a hike in salary, a report said on Monday. In India, 90 per cent of workers interviewed expect a pay rise this year and on average, close to 20 per cent of the employees surveyed are anticipating an increase of 4-6 per cent, followed by 19 per cent anticipating a 10-12 per cent hike, ADP Research Institute's - People at Work 2023: A Global Workforce View - report revealed. The report revealed that in India, 78 per cent of workers received a pay rise last year, and the hikes averaged 4-6 per cent.
In signs of improving labour market, private companies in the US generated 201,000 new jobs this month.
Signalling an improvement in the strained American labour market, US private companies added as many as 32,000 new jobs in April.
Non-farm private employment decreased 2,98,000 from July to August 2009, according to the ADP National Employment Report released on Wednesday. The report noted that the estimated change of employment from June to July was revised by 11,000 from a decline of 3,71,000 to a decline of 3,60,000.
ADP, Inc., one of the largest service providers in the HR and human capital space seeks talented freshers in India
The Rupee is seen weakening further against the dollar.
