Organizations must constantly seek to improve, or they risk being left behind.
Many necessary processes are time-intensive yet add little to no value, and result in high opportunity costs.
In a survey by McKinsey & Co., approximately 75 percent of respondents noted that they were either already integrating automation within their organizations, or intended to in the futures.
Potential Investment Implications…
Automation helps address this. By intelligently automating workflows, organizations can not only cut down on low-value, time-intensive tasks, but unlock human capital to focus on issues that are much more valuable.
Companies like UiPath – which recently went public – are moving quickly in the automation space, servicing most of the Fortune 500 companies. As businesses continue to seek advanced automation solutions to drive efficiencies, it’s interesting to think of what businesses are well positioned in this space and what new automation use cases will arise as the technologies become more advanced.
The author or his firm have positions in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.