20 April, 2021

Uday Kotak, Kotak Group

Executives raise a toast to technologies that trim the wage bill, such as robots. Kotak clearly doesn’t believe in ruthless automation.

Photograph by Getty Images
Uday Kotak, Kotak Group
outlookindia.com
2017-03-25T11:17:54+05:30
  • 46,500: Total employees in the Kotak Group

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Uday Kotak is a banker who banks on people, a point that comes out amply through his meteoric career. Take a handful of his recent tweets, although he doesn’t tweet as impulsively as Virgin Atlantic boss Richard Branson, for instance, does. Take this one: “Biggest challenge for world and India is new jobs. Digital, AI, robots, etc reduce jobs as we know them. Budget should incentivise new jobs.” Executives and corporations will always raise a toast to technologies that can trim the wage bill, such as robots. Kotak is worried.

He clearly doesn’t believe in ruthless automation, given the Indian context where growth has been jobless. Or this: “When nations dominate their people, people have no choice. When supe­r­­powers bully nations, taste of own medicine? Either ways, people suffer.”

What makes the investment banker see people as the key has to probably do with how his story began, when as a 26-year old in 1985, Kotak...

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