Region: Hong Kong
Publication: EJ Insight
Skills shortages are one reason for this and are already costing Hong Kong. According to a recent survey by Robert Half, three in four chief financial officers are experiencing talent shortages, to such an extent that it is affecting their productivity and revenue, and many are experiencing significant competition from abroad.
So an embrace of technology is a smart way to both address skills shortages and become more productive, but the question then becomes, which technology, and how can it be implemented in a way that improves overall productivity?
This is where Robotic Process Automation (RPA) comes in, a technology that is perfectly suited to Hong Kong.
RPA essentially automates all of the repetitive, rules-based tasks that occur in pretty much any industry. So in finance – one of Hong Kong’s leading industries – armies of workers will be employed to process loans, move data around, literally copy and pasting data in many cases.