UK businesses are increasingly adopting automation
Eighty seven per cent of businesses have automated a key process during the last year, a survey of chief financial officers showed today.
One-in-five financial officers view automation as their most most important investment priority during the next five years, the survey by accountancy firm BDO said.
A third of businesses (31 per cent) have already introduced artificial intelligence (AI) into their day-to-day operations, while a quarter of businesses (24 per cent) make use of robotics, the survey said.
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The report showed that automation is moving beyond manufacturing and into professional services, with 67 per cent of finance bosses in the professional services sector considering, or already using AI.
One-in-five finance heads thought automation posed a threat to job security, however a similar number (21 per cent) said more jobs will be created through the use of automation.
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Tony Spillett, head of technology at BDO, said: “Automation is already having a transformative impact on businesses up and down the country. How leaders approach it in the coming years will be crucial both for their own businesses as well as society more broadly. While some caution is required, particularly given the potential for physical and financial upheaval, 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.
“What’s clear is that many companies are only just getting started and are taking an open-minded approach. It’s important to recognize that investing in automation can provide not just greater capabilities for the business as a whole, but greater opportunities for employees – with expanding skillset and knowledge.”