How Is Automation Really Reshaping SG Work Life?
- By CDOTrends editors
- September 19, 2023
With the pressures of rising costs, inflation, and low unemployment, companies in Singapore are increasingly turning to automation as a lifeline.
Recent data from SS&C Blue Prism, derived from a poll of decision-makers across Asia-Pacific, reveals that 35% of Singaporean businesses are incorporating automation to aid their staff in executing tasks. Interestingly, Singapore lags behind the regional average of 44% in this respect.
The drive for automation is more strategic than a mere cost-saving tactic. 77% of companies in Singapore are mulling over changing their business models to weather the economic challenges. This is evident as 43% aim to trim operating costs, and 49% are eyeing product diversification.
The role of automation is manifold. For many, it's a means to eradicate monotonous tasks and allow their workforce to engage in more high-value endeavors. A significant 44% asserted that automation's primary use is to eliminate repetitive duties, thus enabling employees to prioritize more meaningful work. Concurrently, 44% are harnessing automation to bolster customer-facing services, and others are employing it for intricate operations and data processing.
However, while the intent is clear, there are inherent challenges. Over half of the decision-makers felt that organizational culture or mindset was the predominant obstacle in realizing successful transformation, coupled with a lack of adequate skills and a strategic transformation approach.
Dan Ternes, APAC chief technology officer at SS&C Blue Prism, weighed in on the findings, emphasizing the need for adaptability. “In the current economic climate, it seems that all businesses must adapt if they expect to prosper. How they approach this transformation will be the key to their success,” he stated.
Contrary to fears surrounding automation replacing the workforce, Ternes highlighted that the focus is on alleviating burdens from employees. "Creating a seamless link between your digital and human workers facilitates their collaboration, which is a key ingredient for success with transformation," he added.
Among other notable statistics, a majority believed in the primacy of enhancing customer touchpoints during these trying times, while only a fraction felt that senior leadership displayed apathy towards digital transformation. The evolving landscape in Singapore underscores the pivotal role automation might play in the face of economic challenges. Only time will reveal the depth of its impact.
Image credit: iStockphoto/Rudzhan Nagiev