No, a robot won’t steal your job

JUNE 26, 2019: The Economist Intelligence Unit (EIU) has today published a report that explores the current and likely future progress of automation in organisations across the globe.

The report, entitled The Advance of Automation, is based on a survey of 502 senior executives in eight countries – including the US, UK, Japan, India and Singapore – and in-depth interviews with four business leaders conducted in May 2019. In summary, the report shows that:

91% of respondents are using automation technologies79% believe that automation is most effective when it complements humans, not replaces them85% believe automation will enable people to live happier, stress-free lives88% believe automation will accelerate human achievement42% believe that further growth of automation in businesses will depend on providing education and reskilling opportunities to reduce employee and executive resistance to automation

Despite growing enthusiasm for automation among business executives, there remains some reticence about its widespread implementation. The report indicated that uncertainty over security and data privacy represent workers’ main concerns over automation.

However, while 85% of respondents believe that automation will make low-income work redundant, this is unlikely to lead to employee displacement, with 79% stating that automation is most effective when it complements humans, rather than replaces them.

In response to concerns, 42% of “C”-level executives – who are largely responsible for the success of automation adoption – agree that educating the workforce and offering reskilling opportunities to accommodate industry changes are necessary to help alleviate any fears among workers.

The report demonstrates that 91% of business leaders expect automation to generally improve the worker experience by releasing workers from mundane and repetitive tasks. In addition to this, 85% of respondents also stated their belief that automation will enable humans to live happier, stress-free lives. “Automation adoption has exploded,” said Emily Wasik, thought leadership editor at The EIU. “We used to think of robots as the domain of the manufacturing industry, but it’s clear that automation tools are now in widespread operation in businesses across all sectors.”

For more information please find the press release available for download or contact:

Roslyn.duffy@tvcgroup.com