Automation is radically changing the business world. Machines can now do jobs that once only humans could do—and do them better and faster. Their digital capabilities are changing business models and the way companies operate.
At a glance
- Using complex algorithms that mimic human neural networks, computers can detect complex patterns that humans could never spot.
- Robots can now do tasks once thought to be well out of their reach, like tending bars, dispensing drugs, and even farming.
- Automating business functions helps cut equipment downtime, reduce labor costs, and change prices minute-to-minute to optimize revenues.
- The internet of things, which links the digital and physical worlds, can track delivery trucks to improve supply chains, check whether coffee vending machines are working, and monitor warehouse inventories.
- Businesses should make the most of automation’s rich potential to improve productivity and reduce costs.