Every country in the world will be impacted by automation in the near future. In Australia, automation is projected to add up to $2.2 trillion worth of benefits to the economy by 2030.
According to a report by Alphabeta, employees will have two hours of the most manual and tedious work removed from their schedule every week over the next 15 years. Workplace injuries are expected to fall by 11% as automation takes over the most dangerous manual tasks. For low-skilled workers, 62% will experience improved job satisfaction. And employees who are completing non-automatable work will see a 20% increase in wages.
Up until now, dangerous, tedious, and boring tasks have simply been a fact of life for employees in a range of industries. As these tasks are removed, employees will spend more time doing the types of activities that are valuable, meaningful, safe, and more ‘human.’
The idea that there will be mass unemployment within 15-20 years is largely a myth, provided Australians take the opportunity to upskill. While most jobs will still exist, the way that employees do these jobs will be very different. For example, the average office worker won’t need to do boring tasks like data entry. Instead, those two hours a week can be spent on more productive tasks requiring creativity, decision-making capabilities, and interpersonal skills.
While there will be fewer low-skilled roles available, there will always be careers available in jobs requiring emotional intelligence and other skills that machines simply can’t replicate.
Australian businesses will need to decide when to automate, what to automate, and how to manage that automation effectively. Here are some top ways automation will impact Australian businesses:
Implementing automated technology can be a large upfront expense. However, most businesses will more than make up for this initial outgoing expense as they begin reaping the benefits of automation.
Many business owners are likely to find that the increased time savings allow them to hire fewer employees, or use those team members for more important tasks.
As mentioned, automation removes low-value, boring, and mind-numbing tasks from your employees’ workdays. This increases productivity in two ways:
1) Employees no longer have to dedicate time to these tasks. For many of these activities, like data entry and report compiling, human error naturally leads to incorrect data and more time wastage down the line.
2) Employees who don’t feel like their work is contributing to something bigger are quick to become dissatisfied and disengaged. Employees need to feel valued and productive at every level, and disengaged employees lead to lower productivity and higher turnover costs.
Large businesses have more resources at their disposal, making it difficult for small businesses to compete on sophistication, efficiency, or scale. Automation increases the most valuable resource for many businesses: Time. Automation will eventually impact every part of every business- from inventory management to email marketing, customer service to an in-store or online experience.
Customers expect more from the businesses they choose than ever before. The customers of today expect personalized interactions, proactive service, and a connected experience across all channels. While switching to a new company or provider used to a be a headache, this is now easier than ever- and customers have more choice than they’ve had in the past as well.
The IBM Institute for Business Value Report found that 81% of consumers are demanding an improved response time. 76% expect the organisations they buy from or do business with to understand individual needs. And 68% are anticipating that businesses will harmonise the consumer experience.
Automation will allow Australian businesses to find new ways to innovate, and meet growing customer expectations. With brand loyalty decreasing year after year, the businesses that prioritise innovation and the customer experience will be rewarded with greater market share.
Are you ready to see how automation can benefit your business? Get in touch today.