Why businesses need to stay smart about automation
Efficiently applying intelligent automation to physical and intellectual work poses both opportunities and challenges. It also raises new questions about the social, cultural and regulatory impact. Agility and speed will be the differentiator for technology, media and entertainment, and telecommunications companies looking to navigate through this disruption and integrate new technologies.
At EY World Entrepreneur Of The Year™ 2019, mold-breaking entrepreneurs explored how to prepare for the NextWave of industries as new technologies fundamentally change traditional ecosystems and business models.
In this session, we discussed what technology businesses should do to keep up with this increasingly volatile landscape.
Here are some key highlights of the discussion:
- Address gender parity. Today, about 80% of automation-related software development and engineering is handled by men. New innovation is now driving high demand for IA solutions, which could help increase gender parity by enabling more women to play an active role in the growing market.
- Rethink outsourcing strategies. Industrial automation is creating new job roles. In addition, it can lead to cost benefits and greater flexibility in manufacturing and back-office processes. This will help companies address workforce issues in higher-cost or isolated locations. Indeed, some businesses are already using IA to transform their back-office operations into future-ready global business support centers.
- Free employees to focus on other work via automation. By eliminating “non-core” activities, IA can reduce the need for human intervention in routine administrative tasks, freeing employees to dedicate their time to understanding customers and increasing the quality of work. For example, robots can deliver drugs to patients while a nurse handles medical tasks, and software robots can handle basic reporting and data transfers while workers focus on value creation and creativity.
- Identify gaps in the workforce that can pose a threat. As young people’s career and lifestyle expectations change, the risk of scarcities of both skilled and unskilled workers is emerging. Identifying these gaps in advance and developing IA solutions to address them will help companies achieve business continuity and become more flexible.
- Use data to identify and address uncertainties. Technologies such as artificial intelligence and machine learning will help companies react much more quickly to changes and use more-accurate data in decisions and planning, especially as the world grows more volatile, more quickly. As our environment, manufacturing and processes become more connected, the amount of data generated will grow exponentially. Companies that understand the availability, demand and correlation of data will be able to better navigate, anticipate and plan for uncertainty, as well as support new ecosystems with accessible data pools.
Thank you to our discussion leaders:
Brad Keywell, CEO, Uptake Technologies, Inc., and EY Entrepreneur Of The Year 2018 United States
Thomas Visti, CEO, Mobile Industrial Robots ApS, and EY Entrepreneur Of The Year 2018 Denmark
Niels Jul Jacobsen, CSO, Mobile Industrial Robots ApS, and EY Entrepreneur Of The Year 2018 Denmark
Greg Cudahy, EY Global Technology, Media & Entertainment and Telecommunications Sector Leader