4 Ways Automation Is Evolving The Business World
Business owners should be onboard and aware of the concept of automation in the business world. Automation simply means the concept of automating processes where typically, no human interaction is necessary. It is certainly hgoing to be something that will shape the future of virtually every business industry on the market today. Here are a few incredible ways that automation has already changed the game in both significant and smaller ways.
Cheap And Cheerful
One of the biggest benefits of automation is that it’s massively reducing the cost of business models. An example of this would be AP software. Automated payments simply mean that there’s less reason for you to hire an accountant when running your business. At the very least you won’t need one full time on your payroll. Instead, wages can be paid automatically, and incoming amounts can be handled automatically as well. This is just one of the ways that automation helps you wipe out your cost. Now right now, the software and tech we’re talking about is often expensive. So, it’s usually the bigger fish that are benefitting, but eventually, it will trickle down to those smaller startup ventures.
It’s true that automated software and technology is making things safer because it is reducing the impact of human error. Right now, we’re seeing this in surgeries. Robotic technology is being introduced that has the power of precision that human surgeons can only dream of. Right now, surgeons still operate the tech, but how long until there is less risk with no one at the controls? Not long we imagine, and it’s not just medicine. With autonomous cars that drive themselves the days of Uber drivers and taxis will soon be gone.
We bet you didn’t think that automated tech was making things more secure, but actually, it is. Going back to the medical industry, they are now using automated dispensing cabinets. An automated dispensing cabinet will open when a patient needs a pill but remain locked otherwise. This means that the medicine in hospitals and clinics is kept more secure and prevents it from being stolen or indeed misused. Of course, if tech falters, we can see how automated software for security purposes could also be problematic. However, researchers and developers are constantly working to improve the tech to ensure that this doesn’t happen.
It’s not all bad news. That reduction in cost does come with a price, and it’s a price that employees are going to have to pay. As automation becomes more advanced, it will fill the role of employees and what this means in the long term is anyone’s guess. While employers have claimed employees will welcome the introduction of AI tech, they won’t know when it starts replacing their paycheck. Ultimately a lot of people could find themselves out of work due to cheaper more effective software in the next few years. It might even lead to a universal living wage, but that’s still a couple decades down the line.
We hope you see now just how much automation is changing the business world.
Open Business Council offers resources, Trade Finance, business advice, SME Finance and a forum and directory for businesses! Improve your business and use the best digital, financial and funding tools to grow ROI – return on investment and ROA – return on attention!