In the fast-moving world of digital transformation, businesses are under immense pressure to accelerate their operations and adapt quickly to remain competitive in an era dominated by AI and technological advancements. According to McKinsey’s research, companies that embrace diverse growth strategies are 97% more likely to outperform their competitors.

This stark statistic underscores the critical importance for organisations to innovate continuously while optimising their internal processes and customer interactions to maintain a competitive edge. McKinsey’s research reveals that AI-driven automation is crucial for optimising operations and this can help organisations boost operational efficiency by up to 30%. This improvement arises from AI and automation’s ability to correct repetitive tasks, improve data accuracy and speed up workflows – enabling businesses to function with exceptional speed and precision.

Additionally, these technologies enhance operational processes with a strategic edge improving performance and enabling a more agile response to market changes.  Importantly, automation significantly reduces errors and the need for rework, which can drain resources and hamper productivity. By getting tasks right the first time, businesses can save valuable time and resources, which further enhances operational efficiency.    

Moreover, automation plays a crucial role in improving audit and environmental, social and governance (ESG) reporting. By documenting every step of a process, the “when, who and what”, automation creates a clear, traceable record of all actions. This level of detail not only simplifies audit processes but also provides the comprehensive data needed for robust ESG reporting, an increasingly important factor for investors and stakeholders. Read the full article by Greg Williams, regional vice president for Southern Africa at UiPath in the October edition of EngineerIT