News today that a third of businesses see investment in automation as a top priority is a key indicator of the technology revolution across multiple industries. Companies are relying on technologies and automation to mitigate the impact of the ongoing supply chain crisis, a rise in the cost of living, and increasing staff shortages. The latest research from HSBC has shown that 40% of companies feel negative about their staffing levels and availability, resulting in many businesses turning to automation and new technologies to fill gaps in the workforce. Technology and IoT are key in addressing business problems within transportation and logistics, manufacturing, and retail sectors and companies can utilise new technologies to future-proof their business.
For companies to evolve and innovate they must adapt to new technologies to help identify, solve, and prevent problems and inefficiencies within business operations. IoT and automation technologies replace mundane everyday jobs enabling employees to focus on building skills in new areas and be redeployed elsewhere within a company, undertaking higher value tasks. Implementing new technologies does not automatically replace jobs, but merely redirects their work elsewhere within the business. However, the rapid scaling of technology to adapt to a new economic climate could have detrimental consequences for businesses if they fail to implement it properly. IT leaders must ensure all devices and new technologies are correctly integrated, managed, and secured via one platform so organisations can reap the full benefits that new technologies and IoT offers.