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A third of  businesses are prioritising  looking into investing in automation. This is due to staff shortages continuing to slow business activity, according to a survey done by HSBC. 

The survey found that 40% of UK companies currently had negative feelings about the level of recruitment and staff.

James Cundy HSBC Uk’s managing director said the following: 

“The research shows that infamous entrepreneurial spirit of UK businesses continues to lead them to invest, innovate and re-define their growth ambitions,” 

Automation’s effect on businesses

An increase in automation at the workplace leads to concerns over the potential loss of human jobs. However, the consensus among experts is that automation is more likely to supplement human jobs than replace them. Additionally, those it does replace are more likely to be dangerous or highly repetitive roles .

Automation is a viable option for businesses at a time when job vacancies and operational costs are high.

Yell study on automation

A separate study, from Yell, found that UK businesses could save more than £29,000 per year by adopting AI technology. This includes chat-bots and automated financial reporting.

Yell’s report also included a potential issue, as it found  67% of UK business leaders are concerned that an increase in the use of automation would mean significant job losses.

Clare Miles SEO if Yell said the following: 

“It seems we are on the verge of another revolution with AI, with the time-saving and money-making capabilities of the technology being an absolute game-changer,” 

“The responsibility is now on business leaders of the world to ensure that any form of artificial intelligence is implemented properly, with the right security measures to alleviate trust and privacy concerns, as well as using it effectively and sensitively to create more specialised jobs, as the way we all work changes.’’

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