Headlines paint a bleak picture of modern technology's impact on the current workforce. As if COVID-19, a looming recession, and unstable economy weren’t enough - now robots are taking our jobs?!
It is true that in a world powered by tech and driven by the need to stay competitive, businesses have turned to automation as a solution towards success. The global business process automation market is expected to grow from $10.98 billion in 2021 to $12.51 billion in 2022 at a compound annual growth rate (CAGR) of 13.9%, and reach $20.92 billion in 2026 at a compound annual growth rate (CAGR) of 13.7%.
Automation is undoubtedly changing the workplace and the wider economy, but you shouldn’t wage war on the machines just yet.
At its core, automation is meant to complete repetitive and easily replicated tasks – freeing up human time and resources. This ranges from email marketing to monitoring industrial systems. While automation is helping professionals in every industry excel at their jobs, machines lack the uniquely human touch of catering to the needs of the individual.
In 2021, 57% of IT leaders claim automation technology has saved their departments between 10% and 50% on manual processing costs. This may set off your mental alarms, but rest assured that the time and costs saved by automation are not possible without the context of human experience that shapes each automated process. While automation tools can churn out a constant stream of results, it is the human guidance and response to these tools that ultimately drive improvements in growth, productivity, and operational efficiency.
