With technology now playing an inherent role in our societies comes the common fear that automation will push companies to fire many workers. While there are indeed some challenges to be expected with automation, let us take a look at some of its benefits for both employees and businesses.
Benefits of automation for workers
Automation is often considered a threat for workers. Yet, according to the McKinsey Global Institute, “less than 5% of all occupations can be automated entirely.” Automation should thus be seen as an asset for employees as it helps them fulfil their most demanding and draining tasks. This has an impact on their well-being at work since it means that they can focus on aspects of their work which truly passionate them.
Automation also enables workers’ health and safety as it prevents them from doing draining physical labour such as lifting heavy products. It also reduces their working hours and makes work less tiring.
Benefits of automation for the company
Financial gain on operating costs
It is a well-known fact that, part of the reason why businesses are attracted to automation, is because robots can be more efficient than humans on certain tasks. One of the main goals of every company is to make profit and save money. In this regard automation is incredibly useful.
Forbes reports that “intelligent automation typically results in cost savings of 40 to 75 percent.” Aside from labour costs, this can be explained by automation enabling more material savings.
Automation: Environmental Friendly
At a time when climate change has become a crucial issue, it has been proven that automation is helping the cause. Because automation requires less energy, it diminishes the carbon and environmental footprint, which is a huge asset.
Better productivity and performance
Productivity and performance are two incredibly important variables that prevail for businesses. As a business always seeks to grow and improve, productivity is absolutely essential to ensure that the objectives set will be reached.
According to the McKinsey Global Institute, “automation could raise productivity growth globally by 0.8 to 1.4 percent annually.”
Equally, productivity is increased due to the fact that automation tends to minimise the risks of errors and anticipates, via algorithms, whether the demand will be properly answered. Automation is also the perfect mechanism to ensure that your product will not get damaged, or to at least significantly reduce the probability of this happening.
With more productivity comes a better and stronger performance. The fact that a robot can work endlessly, repeatedly and consistently, significantly improves the production rates of your company. It is also highly beneficial in terms of return on investment as it provides great results to your company.
Consistency / Reliability with Automation
Automation implies that you set a programme which will then work non-stop, and subsequently increase both the consistency and reliability of the softwares. This is a huge advantage because you do not have the volatility of workers who eventually get tired and stop.
Softwares come in handy when there is the need to solve complex issues as they try to rapidly and efficiently solve them.
2OS: a successful use of automation
2OS has used automation successfully to develop their no-code platform. Thanks to 2OS, a few hours are enough to create an application with AI without any line of code. If you would like to know more about no code and what it is, this article is here to help you.
The 2OS platform uses various technologies including Artificial Intelligence, Big Data and analysis tools, robotic processes, integration and interoperability in the cloud. All of them are managed exclusively in the no-code universe.
It is this complex combination of complex software needs and high development speed that has made 2OS’s success.
The 2OS platform provides you algorithms with which you can analyse your documents and data so as to extract useful information with strong value-added (DocReader). You can also measure the market yields of your brands and products (Sentiment Analysis), and learn how to better communicate with your customers (Know Your Customer/Name Screening).
Regardless of the topic (Financial AI, Business Process Automation, Risk Management, Compliance, Automatic, Document Analysis, KYC…) or the industry you are specialised into (Finance, Banking, Insurance, Healthcare, Law, Accounting…), 2OS will be able to meet your needs and solve your problems… with unprecedented efficiency.
2OS will allow you to create an intelligent application while respecting the integrity of your data & the highest IT security standards.
2OS has successfully invested in different R&D activities such as text-data mining, big data analysis, and automatic generation of algorithms.
The outcome is concrete results delivered to our customers, streamlined processes and significantly improved business operations.