Digital automation has been around for a while now and it’s benefits are being seen more and more across virtually all industries. In the digital marketing space for example, it’s used for things like scheduling social media, sending out email marketing campaigns, and data collection and analysis. Airlines are using collaborative apps for employees to log tasks and streamline information. Factories can now be controlled from anywhere in the world using an automated command app. The list goes on and on.
The fact is, digital automation is helping all kinds of businesses to streamline their mundane processes and improve overall efficiency in the workplace. According to thinkautomation, between 2017 and 2019, companies using automation for mission-critical processes rose from 16% to 50%.
So what does digital automation have in store so far for 2020? And what improvements and advances can we expect to see?
Hyperautomation focuses on the combination of existing technology such as Robotic Process Automation, Artificial Intelligence, and low-code app development to further develop and improve digital automation processes alongside human interaction.
We’ve seen examples like Robo-Advisor investment services pop up everywhere in recent years. Plum, Wealthify, and Moneybox are other examples where newbie investors can save for their future without the need of a financial advisor.
The portfolios on these platforms are put together using a series of algorithms and artificial intelligence with some human input to determine the best possible outcome for investors.
As we head towards a world where our digital automation will see us working with third-parties to grow and improve services, blockchain becomes an important trend to consider. The concept of blockchain first became popular with cryptocurrencies – offering a secure and transparent way to make transactions. However, the capabilities of blockchain extend far beyond currency.
Blockchain can be used when signing contracts, which can eliminate the need for a middleman, or, can free up the middleman’s time to do something more valuable within the company. With Blockchain, documents can be verified, signed and even include background checks in no time at all. Although this has been around for a while, expect it to become more of a staple looking forward.
The industrial sector is going to continue to transform in 2020. Weforum has predicted that in the next ten years, the amount of time manufacturing facility workers spend on doing manual or physical labor in their jobs will drop from 48% of their working hours to 35%. Additionally, PWC believes that by 2025 around 10-15% of manufacturing, wholesale, and transportation type roles will have a lot of room for automation. They predict that it will increase to between 35% and 50% by 2035.
Does All This Mean There’s a Decreasing Need For Human Workers?
No, not necessarily. Digital automation has been designed to complement the skills of humans and encourage them to take up the more “important” roles in the workplace.
The Foundation for Economic Education published an article at the end of last year stating that “Technology Creates More Jobs Than It Destroys”, and they’re not alone in their assessment.
Take the Robo-investor example we used earlier. These types of platforms have allowed developers on the back end to create a whole new world of investing and banking services for a new demographic. These startups will always require support staff though, such as customer service and marketing experts who can help ensure that the service runs smoothly.