This article was originally featured in Metro print edition on Thursday 25th October.
In the past year artificial intelligence (AI) and automation, technology that performs a process without human assistance, have moved out of the realms of Sci-Fi and firmly into boardroom and office discussions across the UK.
However, many businesses are still reluctant to adopt these technologies. Whether through lack of technical understanding, assumption that it’s too expensive or simply fear that automation will mean job losses, too many are missing out on its transformative potential.
Automation will create more jobs
While it’s true that many jobs can and will be replaced by automation, much of the apprehension is based on myths. A recent report from the World Economic Forum (WEF) actually found that while robots will take 75 million jobs globally by 2022, the implementation of automation and AI will generate 133 million new ones.
The WEF report also noted that advances in the technology could in fact “lead to a new age of good work, good jobs and improved quality of life for all”.
Our automated property management software, PropertyCloud, has certainly delivered these benefits to its client, Rooms4u.
The web app and online office management tool has slashed time taken to generate student tenancies and get contracts signed from three weeks to under one hour using automation. This has given employees time back to focus on customer care and portfolio expansion, not to mention better working hours. The 125% increase in viewings and 114% increase in lettings has also meant the business has expanded its team to manage its growing workload.
Similarly, an automated car park management app we developed for international nutrition brand, Danone, has increased occupancy, reduced lateness and improved staff morale by making it easier to park on site.
These are just two examples, but the possibilities of automation are endless and the costs reasonable when balanced against the benefits delivered.
4 Reasons to Automate
Save time (or use it better)
Automation can reduce time taken on low-reward administrative tasks, so you can redirect team time to more beneficial or profitable activities.
We’re still some way off AI being independant of human input. However, once ‘trained’ on tasks errors will be dramatically reduced, if not eradicated.
Streamlining processes using automation means you spend less on operational tasks that don’t deliver financial return and you won’t have to shoulder costs associated with human error.
Create new revenue streams
Automation has the power to solve industry-wide problems, which represents a commercial opportunity. Like PropertyCloud, software developed in partnership can be licenced or sold to mutual benefit.
The difference between those businesses who automate and those who don’t will soon be stark. We’re coming to a point of adopt or die and the window of opportunity to get on board is narrowing.
Mashbo can build solutions to improve the productivity, capability and profitability of your business - contact us to discuss your needs .