Delivery science and Robotic Process Automation is working its way into businesses, but as this kind of technology is being adopted by some, many seem resistant to it.
In the past, research was conducted in the form of surveys and focus groups, but these methods are biased as only a small proportion of the population can engage with them. Big data has replaced these practises and paved the way for a much more accurate and informed picture of what customers want. How we now use this data is the question on everyone’s minds but businesses that are utilising AI are answering that question. By using machines to analyse data, inaccuracies due to human error are eradicated and the machines can look into the data without emotion getting in the way.
Replacing man hours with automation software is an exciting prospect as it has been proven that using this type of software means businesses can save time, improve accuracy and cut costs, but will adoption of this kind of software cost jobs?
In a 2017 report by McKinsey it was found that 60 percent of all occupations have at least 30 percent technically automatable activities but only five percent were found to be 100 percent automatable. That means that even the lower skilled worker is less in danger of being replaced than people seem to think.
The time each employee gets back, thanks to AI, can be spent on more creative and enjoyable work tasks which could lead to improved employee satisfaction and a reduction in staff turnover. In short, this kind of technology gives rise to better, more creative use of human skills.
Another benefit of this technology is the easy integration into current business practices and the personalisation prospects of this kind of system. Robotic Process Automation can replace the daily practise of menial tasks without causing disruption to the business. With many new technologies and IT solutions the integration into businesses can be a time consuming and complex task requiring staff training. With RPA there is no need for this as the machines do all the work. And if you’re not getting the outcomes you desire you can simply turn it off at the switch. Machines can work around the clock, they don’t need breaks, holiday or sick days, which all saves time and resources.
This technology can give almost instant results and can work alongside, rather than instead of, current business systems and staff instead of replacing them.
Accenture reports that the benefits of automation include reducing costs by 80%, saving time by 80-90% and reducing errors, so why are businesses still resisting?
The technology does require some man power to execute effectively and in infancy will need a specialist team to run and analyse its use. The best way to start embedding this technology is to know your goal and do the groundwork. What is the desired outcome of using AI systems in your business and how are you going to integrate the co-bot into the company culture?
In a report Onyx Media and Communications wrote for their client BPS World last year they mentioned that in recruitment the use of automation software is becoming vital in order to “standardise, reduce paper and harvest valuable data,” but recruitment is not the only business that can benefit from automation software.
The success of Robotic Process Automation has been proven in many business sectors including the financial services. Thoughtonomy reported in their White Paper, ‘How to implement intelligent automation’ that RPA saw a 12x reduction in FTEs, 10% faster execution and a $1.5m projected annual saving on their financial services case study.
The future is here, and businesses need to get on the band wagon!