CEO Today - September 2023 Edition

In a tech-centric world, the impulse to invest in new technology can be difficult to ignore. However, it is important for CEOs to make investment decisions based on what their organisation, and workforce, require to achieve the best results, via the most efficient means. One trend that is cropping up more frequently is the introduction of robotic systems to automate simple, but regular tasks. Doing so transfers the responsibility of time-consuming practices like drafting emails or assembling data, from person to machine, freeing up the workforce to add value elsewhere. Automated chat boxes are a good example of this, allowing users to exploit their intelligence without having to upload data first. Progress in low code platforms and collaborative tools means teams can now benefit from easier methods of communication and data sharing, in one location. Application software is therefore a sound investment for any organisation because it dramatically cuts down the time workers would ordinarily spend using spreadsheets or speaking to colleagues individually, for instance. Huge amounts of innovation on the Internet of Things – a network of physical assets that collect, share and process data over the internet - has equally opened up opportunities for improved productivity. Real time data collected by smart sensors can provide insights into anything from the efficiency of manufacturing machinery to supply chain deliveries. Mist computing – a network of microchips or microprocessors that feed small amounts of data to a central system – and fog computing – digital infrastructure such as smart buildings that can collect and process data without a central system – are at the heart of this innovation. Such advancements spare workers the toil of managing data themselves, speeding up operations and redirecting efforts to optimise other areas of the business. The technological Opportunity “With advancements in automation and the evolution of cloud computing already upgrading workflows, the introduction of new technology promises to revitalise workers by reducing manual tasks and unlocking opportunities for creativity and collaboration.”

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