As the pandemic has halted businesses globally, several organizations have turned to artificial intelligence and automation for help. The results are stellar, and with each passing day, it is looking more and more like the acceleration of both technologies is on an exponential trajectory.
Deloitte released a new report about this. They polled 441 executives from 29 countries. 2 out of 3 of the business leaders (about 68%) used automation in one form or another to handle the crisis. That figure brings the number of all businesses using modern tech to about 73%, up from 48% in 2019.
Already, the revolution in digital technologies has begun.
The expectation is that the transformation will continue
In addition to all of this, the number of businesses that use automation at a significant scale tripled in the last two years. For instance, companies with 50 or more automations almost increased by 100% in a year and 200% over the previous two years.
The latest Deloitte UK CFO survey also shows that we are at the beginning of a digital transformation.
All of the tech advancements necessitated by the pandemic are considered the most significant investment for 2021. 2 out of 3 of the CFOs in the UK expect that their businesses will invest more in the organization while improving business processes like streaming, restructuring, and automation.
Retraining and upskilling
Implementing new technology has its challenges, and if businesses should continue on this path, they will have to invest heavily in upskilling and retraining. The next three years are prime time for business leaders to retrain at least a third of their workforce.
In today’s world, around 23% of workers felt the automation effect in their roles. A tenth has already undergone retraining because of such changes.