Automation has the potential to be one of the great generational shifts of our time. The human mind is brilliant, and technology is brilliant so I take the stance of considering just how brilliant the two combined can be.
Already we’re seeing businesses automate all, or part of, key processes in order to reduce costs.
It’s with that context that we have decided to explore automation in our report. Investing in…Automation is the first in a series of New Economy reports examining the views of CFOs and Financial Directors from the UK’s economic engine, on some of the biggest issues of our time in order to draw conclusions about the future role they will play.
We want to understand how these leaders view automation as an investment priority, where in particular they are directing spend in the broad category of automation and, more philosophically, where they stand on what has become a key debate: is automation more of a threat, or more of an opportunity?
Our survey revealed that businesses across the UK are certainly paying attention to the importance of automation, with 87% of businesses having automated a key process in the last year and 21% of CFO’s choosing automation as their number one investment priority over the next five years.
Our report examines how much is being invested in automation technology, which regions are leading the way in adoption and the impact this is having on jobs and training.
How businesses manage this next generation of automation will be key. There’s no doubting it will be the future of the new economy. For the full analysis of how businesses are embracing this new frontier, download the report here.
Paul Eagland is Managing Partner at BDO.