Why are companies turning to robotics? Speed and eliminating repetitive work

Dive Brief:

Six in 10 business workloads will be automated within five years, driven by 83% of IT decision makers who are prioritizing robotics in digital transformation strategies, according to a Redwood Software and Sapio Research survey of about 1,000 IT professional in U.S. and U.K.-based companies.
Approximately one-third of U.S. respondents said robotics are a "top priority," followed the U.K.'s 19%. But 74% of all respondents agree robotics and automation are strategies which should be implemented by the CIO and IT department and not by a third party.
Increased processing speeds and elimination of repetitive work are the top benefits of robotics, while top risks include security and cost, according to the report. About 90% of all respondents said top executives understood the "opportunity that robotics presents."

Dive Insight:

Automation in the form of AI or robotics is an area of great interest for IT strategists but an indicator of the end for some employees — and prominent billionaires. Still, its integration in enterprise tech is inevitable, and about 55% of IT professionals believe AI-infused technology will generate jobs instead of eliminating them.

Companies misusing new technology lose more than $6 billion annually, so tech providers are increasingly working to eliminate human error through robotics and automation. Automation alone can save about $16 trillion for blue and white-collar workloads. After Kraft Heinz's Q2 revenue dropped, the mega food company integrated robotics and AI throughout its business – from marketing to manufacturing – to lower costs.

Following the rise in cybercrimes and related costs in 2017, businesses are also looking for ways to integrate security within IT applications, and tech companies are capitalizing on the demand. For example, Oracle has been promoting its autonomous cloud database, which will patch security vulnerabilities on its own and eliminate threats caused by human error.

Automation is ultimately a tool for efficiency, and IT departments are keen on implementing its services to modernize the IT landscape.