In evolving technologies, one size does not fit all. So how do you find the right fit, asks Fabio Zammit.
The information age brings with it instant accessibility, yet it has also created new challenges for business, particularly established firms, that must transform the way they operate if they are to remain relevant in a fast-paced, ever-changing scape.
New technologies need to be understood and companies must acknowledge the importance of taking time to research and develop this aspect of their business. It begs the question how to know which technology to embrace to continue driving ventures forward. While autonomous machines, such as robots, drones and vehicles share many of the core underlying technologies, it is not a one-size-fits-all; to stay ahead of the curve and be innovative, companies need to understand their strengths and weaknesses, to ensure they subsequently introduce the right tools for the job.
Locally, automation has transformed many of the day-to-day services that we require to be swift and accurate. Cab companies, for instance, have been able to drastically improve their services through the introduction of tracking and automatic notifications via a mobile app, while chatbots are used daily for novel banking solutions, whereby the bank deals with customers’ needs via digital platforms.
Another example of automation across Malta and Gozo, has been the introduction of iBiNs. Using next generation Internet of Things technology, iBiNs can monitor waste levels and feed information back to a central system, which enables the recycling service to customise collection routes in the localities it serves.
Introducing disruptive technology may seem overwhelming when surrounded by a plethora of advice, available to anyone with an internet connection. Add this to concerns about AI replacing humans and you will find that the best place to start is with your customer. Begin with small and incremental changes, focusing primarily on customer experience and understanding what they want through current analytics. Then test and gather feedback from your customers and proceed with iterations that will lead to making a decision that brings about a better chance of improving a product or service, one that you can continue to nurture, as opposed to a one-off change.
It’s undoubtedly worth exploring the various ways in which the efficiency of departments can be improved, via digitisation and automation
Furthermore, for the company to be able to embrace the right technology, you will need to examine internal pain points, focus on improving them through the implementation of automation. If done right, this will galvanise efficiency, replacing rote tasks, while giving the opportunity for employees to work on less tedious undertakings.
Professionals spend 50 per cent of their time manually searching for information, finding and correcting errors, and searching for confirmatory sources. That translates into 69 days a year that office workers spend on administrative tasks, costing companies globally €4.5 trillion a year. Automating the areas which are demotivating, or not the central focus, will allow more time to manage customer expectations, as well as to provide a more employee-centric culture.
We can already notice a shift in trends with regards to hyper-automation, where a company will employ a combination of tools, rather than just one to automate. Employees, in turn, should look at what they do within their roles that generate ideas and new solutions, focusing on insights rather than repetitive tasks. Where possible they should invest in further developing capabilities in areas least likely to be affected by technology, and businesses should encourage these initiatives within their workforce.
It’s crucial that any decisions to upgrade and update systems are taken only after exploring various options and finding the right technology for your business model, thus avoiding pressure to jump on the bandwagon of digital transformation in haste. In terms of service turnaround, the speed that we, as consumers, have become accustomed to, places certain demands on businesses to provide ever-swifter user experiences. But it pays to ensure that you find the right fit for your company, which can be tailored to your unique identity and specific needs.
The importance of embracing new technologies needn’t be emphasised – it’s undoubtedly worth exploring the various ways in which the efficiency of departments can be improved, via digitisation and automation. Businesses need to comprehend the various ways in which operational functions can be optimised through correct implementation of technologies.
Automation can have a substantial impact in many areas such as sensor-based tracking and alerts, back-office processes, management of documents, customer feedback collection, as well as image recognition.
By using automated, one-click upsells when selling products online, the average order size can increase by more than 360 per cent. Cloud automation has also been fruitful in 59 per cent of the most established IT companies who have been able to redeploy engineers onto higher-value activities, such as enhancing existing products, or new product development. Thus, the use of automation creates a situation where companies are able to utilise their resources in other areas of the business.
Global spending on marketing automation tools is predicted to pass €22 billion by 2023 – a 14 per cent annual growth rate. It is estimated that by 2024, 64 per cent of typical managerial tasks – such as filling out expense reports, monitoring dashboards and so on – will be automated. By 2028, the user experience will also have undergone significant shifts in how they perceive the digital world and how they interact with it – virtual reality (VR), augmented reality (AR) and mixed reality (MR), will undoubtedly form an integral part of quotidian life, making soft skills increasingly in demand; the ability to communicate, collaborate, work remotely and work comfortably within a team, will be essential. Critical thinking, negotiation and flexibility, being able to anticipate and move through complexities, is where today’s workforce will come into effect tomorrow.
By working in tandem with automation, professional performance will be able to move seamlessly with the times.
Fabio Zammit is the director and founder of Root Codex, a software company that specialises in web development and business automation. www.rootcodex.com