It is a fact that businesses built with a digital core tend to outperform those with a traditional operating model. According to research by McKinsey, digitally driven organisations are more profitable than their industry competitors. It is therefore no surprise that adoption of emerging technologies such as Robotic Process Automaton (RPA) and Artificial Intelligence (AI) is on the rise. A recent survey by Gartner found that 37 per cent of global companies have now implemented AI in some form and that the number of enterprises utilising AI has increased by 270 per cent over the past four years. Rather than relying on traditional business processes being operated by office workers, managers, engineers, advisors and customer service reps, a growing number of organisations now depend on digital workers, automation and AI to run their core business processes.
"Diversity is being invited to the party; inclusion is being asked to dance." When I started becoming an engineer as an undergrad, I was quickly confronted with a startling realization: there were very few women in that field. In my classes, I was surrounded by men. And when recruiters came to campus, they were all men too. It soon became clear that if I was going to be an engineer, I'd have to get used to the fact that there weren't going to be many people like me.
As businesses look to the future, they should turn their eyes toward intelligent automation as a key component of their technology infrastructure to significantly improve the efficiency and effectiveness of business. Confronted with challenges like managing an ever-increasing volume of data without hiring additional human workers, organizations that don't incorporate automation into their long-term strategies may fall behind. A company that has developed a digital workforce has the potential to not only fill the hiring gap and space left by retiring employees and business growth, but to also augment the skills of an existing workforce. Working in the robotic process automation (RPA) industry myself, over the past several years, I've seen plenty of fear around the possibility of artificial intelligence (AI) replacing human workers. I do expect some of that apprehension to continue into 2020.
Recession seems all but inevitable, as stocks have plunged to bear market levels. Yet there are certain industries that could be insulated. There will also likely be changes in consumer and business behavior that will be lasting. No doubt, it seems like video conferencing and remote work will become increasingly mainstream. But there are other corners of the tech industry that could be poised for transformations.
Continuous advancements in the development of AI technology are encouraging more and more companies to introduce artificial intelligence into the workplace. Businesses which were early-adopters of AI have already seen huge successes across multiple KPIs and are now running highly effective business strategies. But the introduction of AI can be a worrying prospect for employees, and it is natural to be wary of things we don't fully understand. Therefore, it's important that companies which do look to harness the power of AI, effectively convey the benefits that it will bring to the current workforce. Here are just some of the ways which artificial intelligence can create a better working environment for your employees.