66% of companies to increase RPA spend in 2020: Forrester

UiPath has announced a new study conducted by Forrester Consulting, ‘The Future of Work Is Still Being Written, But Who Is Holding the Pen?’. 

The study assesses the impact that automation technologies like AI and RPA are having on businesses, their employees, and how businesses are preparing for this new work paradigm. Automation is transforming businesses around the globe, directly impacting the bottom line as a result of improved productivity and efficiency. 

Forrester surveyed 270 decision makers from operations groups, shared services, finance and other lines of business across the United States, United Kingdom, France and Germany and discovered:

- Investment in automation will rise. Eighty-six percent of respondents cite that improving the customer experience is a “critical” or “high” business priority that their organisation will adopt over the next 12 months. 

- Automation – namely RPA – will enable businesses to deliver better service to their customers, which will drive conversions and revenue. 

- Furthermore, automation is also enabling businesses to reduce costs, differentiate themselves in the marketplace and improve employee experience – all top priorities for survey respondents. For these reasons, 66 percent of companies in the study will increase RPA software spend by at least 5 percent over the next 12 months.

- Automation will affect roles in different ways. By 2030, some jobs will be cannibalised, some will be created, others will be transformed – but only a few will remain untouched. 

- To win in the future of work, businesses need to plan for automation’s disruption on every job role and level.

- The digital skills gap is a concern for all employees. With automation advancing, some employees will be motivated, passionate and advocate for the change, while others will be reluctant to learn new skills. 

- Forty-one percent of respondents say their employees are concerned that their existing digital skills may not match what their job will require in the future, while 53 percent say employees are concerned or feel threatened by the growing complexity of tasks they face.

- Automation education in the workplace will boost career prospects. When businesses invest in automation, they should invest in employee education, too. 

- Training employees, providing them vocational courses, or encouraging them to pursue digital qualifications allows them to overcome fears around automation and embrace it as a productivity-boosting asset.