I found myself chatting to a young guy at a local sports facility recently. He asked me what I did for work and I said I ran a business valuation and advisory firm.
“We value companies and provide advice on growth and change,” I told him. He looked interested so I reciprocated by inquiring as to what he did.
“I work for a business and my role is to replace regular and predictable processes and tasks with robots,” he told me. Wow!
“And when is your job going to be replaced?” I lamely joked.
He said: “My work is so rewarding. We’ve already saved 30-plus hours a week and there’s more to come.”
Automating the 'low-hanging fruit'
He said the firm he works for employs about 150 people and manages events nationwide. He is currently focused on automating their finance and admin tasks.
“I’ve so far automated the accounts payable, receivables, and regular and periodic financial reporting functions,” he said.
His work is about 50% done i.e. 50% of the tasks and work previously undertaken by humans is now being undertaken by robots and AI and, as he put it, the robots…“they don’t sleep”.
“Once I’m done, I’m going to move into sales,” he said, with a sense of achievement.
I was curious as to what his qualifications were and how he got the gig, so I asked.
He said he was studying mechatronics and mechanical engineering at Western Sydney University, and would soon graduate with his bachelor’s qualification. He said the company he’s working in “took a chance” on him, and for that he was very grateful.
He spoke infectiously about his work and the difference he is making. It was so inspiring to hear what this young, talented dude is doing.
We chatted a bit further, including talking about the focus on the finance and admin side of the business being relatively low-hanging fruit, albeit with some challenges, in terms of automation.
Endless opportunities
I told him we do quite a bit of financial and business analysis at JPAbusiness, in conducting feasibility assessments, and providing business plans and valuations.
Quick as flash, he said: “You might well benefit from the work I’m doing!”
He put out his hand, introduced himself formally, and said: “Let me get my mobile and we can exchange details.”
Nothing ventured nothing gained! I reciprocated with my details and warmly thanked him for the connection and conversation.
Off he went to join his mates for dinner, while I marvelled at the opportunities for business and efficiency gains, the profound changes afoot in business, the opportunities to better focus people on what they are most talented at, and at a bright young guy who is learning, contributing and making a difference in our society. How good!
What does it all mean for your business?
I am sure this young guy is just one of many who are moving into this evolving field of AI and automation, looking at ways to make organisations more efficient and effective.
Recently I shared some interesting statistics on LinkedIn about AI and automation adoption across Australia - it seems many businesses are now putting AI firmly on the agenda and into their operational plans.
So how do you balance the human v robot divide? How are you reassuring your workforce about their future in an AI-dominated world?
It's a difficult line to walk, but employers have a responsibility to consider their workforce now and into the future.