Customers and board drive CIOs to automate

Automation will completely reshape organisations and society. CIOs are discovering opportunities for their organisations.

Technology continues to automate organisations and reshape how they operate. Just as PC replaced the typing pool and released people from repetitive tasks, today robotic process automation (RPA), business process management (BPM), artificial intelligence (AI) and application programming interfaces (API) are being implemented to replace a range of repetitive tasks and in doing so, improve the way an organisation operates, but there are significant leadership and societal challenges to this movement.

A study of Chief Financial Officers (CFO) and Financial Directors (FD) by accountancy and business advisory firm BDO LLP discovered that 87% were automating key processes during 2019 and that 21% of the CFOs interviewed said automation was: "their most important investment priority for the next five years". 

"Automation is already having a transformative impact on businesses up and down the country," Tony Spillett, Head of Technology & Media at BDO said. "All businesses, no matter their size, sector or structure, must come to terms with the role it will play in our future and explore the opportunities it can bring."

Technology analysts Gartner agree with the findings of BDO, in its recent study of global CEOs, it found that the majority plan to change the majority of their business processes. As a result, there will be a significant impact on society. The BDO study found that 21% of CFOs believe automation will create jobs, though a similar number also said they are concerned by the impact automation will have on employment.

A study by the European Union indicates that between 45 and 60% of workers could be replaced by automation by 2030. The region's European Pillar of Social Rights will be used to support society through the transition to an economy with greater automation with guarantees for equal opportunities, fair working conditions and social protection amongst others for those in the member states.

Customer driven

As with the radical change to vertical markets such as retail, leisure and the mass media the customer is driving the need for adoption as much as the C-suite at the top table of business.

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