New Study: 66 Percent of Companies Will Increase RPA Software Spend Over the Next 12 Months
UiPath Press Release
January 29, 2020
Join UiPath’s February 6 webinar to unpack this latest independent study and learn how organizations are preparing for the RPA and AI-driven future of work
NEW YORK – January 29, 2020 – UiPath, the leading Robotic Process Automation (RPA) software company, will host a webinar on Thursday, February 6 at 9:00 am ET/ 2:00 pm GMT to discuss key findings from a UiPath-commissioned study conducted by Forrester Consulting, The Future of Work Is Still Being Written, But Who Is Holding the Pen?. The study assesses the impact that automation technologies like AI and RPA are having on businesses, their employees, and how businesses are preparing for this new work paradigm.
Automation is transforming businesses around the globe, directly impacting the bottom line as a result of improved productivity and efficiency. But automation’s impact on the workplace is not well understood and cannot be ignored: automation raises concerns about the impact on jobs, skills, wages and the nature of work itself. Forrester Consulting’s study aims to better understand automation’s impact on the employee experience and businesses’ ability to prepare for this shifting future of work. Forrester surveyed 270 decision makers from operations groups, shared services, finance and other lines of business across the United States, United Kingdom, France and Germany and discovered:
Investment in automation will rise. Eighty-six percent of respondents cite that improving the customer experience is a “critical” or “high” business priority that their organization will adopt over the next 12 months. Automation – namely RPA – will enable businesses to deliver better service to their customers, which will drive conversions and revenue. Furthermore, automation is also enabling businesses to reduce costs, differentiate themselves in the marketplace and improve employee experience – all top priorities for survey respondents. For these reasons, 66 percent of companies in the study will increase RPA software spend by at least 5 percent over the next 12 months.
Automation will affect roles in different ways. By 2030, some jobs will be cannibalized, some will be created, others will be transformed – but only a few will remain untouched. To win in the future of work, businesses need to plan for automation disruption at every job role and level.
The digital skills gap is a concern for all employees. With automation advancing, some employees will be motivated, passionate and advocate for the change, while others will be reluctant to learn new skills. Forty-one percent of respondents say their employees are concerned that their existing digital skills may not match what their job will require in the future, while 53 percent say employees are concerned or feel threatened by the growing complexity of tasks they face.
Automation education in the workplace will boost career prospects. When businesses invest in automation, they should invest in employee education, too. Training employees, providing them vocational courses, or encouraging them to pursue digital qualifications allows them to overcome fears around automation and embrace it as a productivity-boosting asset.
Register here to attend UiPath’s February 6 webinar, hosted by UiPath’s Chief Evangelist Guy Kirkwood and featuring guest speaker, Forrester Vice President and Principal Analyst Craig Le Clair, to dive deeper into the survey findings and to learn recommendations for business and employee success in the future of work. The full report will also be available to attendees.
UiPath (NYSE: PATH) is on a mission to uplevel knowledge work so more people can work more creatively, collaboratively, and strategically. The AI-powered UiPath Business Automation Platform combines the leading robotic process automation (RPA) solution with a full suite of capabilities to understand, automate, and operate end-to-end processes, offering unprecedented time-to-value. For organizations that need to evolve to survive and thrive through increasingly changing times, UiPath is The Foundation of Innovation™.
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