# The New Wave of Technology, What Does the Future Hold for Businesses?
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2020-01-08
Category: TECHNOLOGY
Category URL: https://financedigest.com/category/technology
Meta Title: Adapting to Technology: How Automation is Reshaping the
Meta Description: Discover how technology is reshaping industries and the workforce, and what steps individuals and companies need to take to thrive in the evolving landscape.
URL: https://financedigest.com/the-new-wave-of-technology-what-does-the-future-hold-for-businesseshtml

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The latest Office for National Statistics (ONS) [analysis](https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/articles/whichoccupationsareathighestriskofbeingautomated/2019-03-25) shows that around 1.5 million jobs in England could be impacted by technology, with some of their duties and tasks being automated in the future. Technology is already transforming many industries, with changes to hiring, training and much more. In this article, experts at [The Access Group](https://www.theaccessgroup.com/hr/) look at what we all need to be doing in order to adapt to the changes being introduced by technology.

Automation offers improvements in productivity and enables companies to remain or become competitive. It enables new business models focused on providing new products to be more efficient and also helps companies improve the flexibility of supplying those goods and services. Many economists agree that increased productivity is [key](https://www.financedigest.com/polyols-and-sorbitols-products-market-industry-research-segmentation-key-players-analysis-and-forecast-to-2029.html "Polyols and Sorbitols Products Market Industry Research, Segmentation, Key Players Analysis and Forecast to 2029") to improving Gross Domestic Product, the value of goods and services produced in a country, and in turn, jobs and wages. And technology is key!

From driverless cars to chatbots and artificial intelligence, there’s no shortage of emerging [technologies which are changing the way businesses](https://www.financedigest.com/how-technology-can-support-insurance-business-growth.html "How technology can support insurance business growth") operate. New technologies like automation and [artificial intelligence](https://www.financedigest.com/how-to-unlock-greater-value-from-artificial-intelligence.html "How to unlock greater value from artificial intelligence"), and even robotics, is undoubtedly changing the way we work and, to an increasing extent, the way we live. All professionals need to be aware of the importance of understanding and responding to the rise of [technology and automation](https://www.financedigest.com/being-nimble-and-responsive-in-banking-and-business-has-arrived-thanks-to-accounting-automation-technologies.html "Being Nimble and Responsive in Banking and Business Has Arrived, Thanks to Accounting Automation Technologies") in the workplace.

Technology is everywhere; people apply for jobs on their smartphones whilst getting the bus to work, use computers daily, and with the rise of [remote working](https://www.financedigest.com/digital-insurance-and-the-remote-working-and-studying-boom.html "Digital insurance and the remote working and studying boom"), collaboration video tools have grown. The move to the Cloud, or Software as a Service (SaaS) products has been a [big influence and change](https://www.financedigest.com/pharmaceutical-contract-packaging-market-current-impact-to-make-big-changes-2020.html "Pharmaceutical Contract Packaging Market Current Impact to Make Big Changes 2020"), not because the functionality is much better, but because it has forced businesses to become more efficient by allowing many elements to come together in one place. [Software like this automates](https://www.financedigest.com/guide-to-the-most-affordable-marketing-automation-software.html "Guide To The Most Affordable Marketing Automation Software") the gathering and evaluating data to determine when and why to act. It can then sequence tasks dependent on the findings.

Organisations who have moved to the cloud do [see a reduction in transactional work](https://www.financedigest.com/eu-sees-more-work-ahead-to-implement-russian-oil-price-cap.html "EU sees more work ahead to implement Russian oil price cap") and benefit from streamlined day-to-day processes, as it allows more time for strategic activities and core tasks.

The good [news is that new jobs](https://www.financedigest.com/elon-musk-plans-to-cut-half-of-twitter-jobs-bloomberg-news.html "Elon Musk plans to cut half of Twitter jobs – Bloomberg News") will create more opportunities for people to try something new or develop their skills. This past summer, a study published by PricewaterhouseCoopers (PwC) suggested that by 2037, widespread adoption of AI could generate more jobs in the UK than it displaces.

Every workforce needs to be more agile, and there will be an emphasis on companies to recruit and [develop workforces with high levels of learning](https://www.financedigest.com/prioritising-employee-wellbeing-in-finance-firms-through-learning-and-development.html "Prioritising employee wellbeing in finance firms through learning and development") agility. Critical thinking is needed to fulfil the [improvements in the industry](https://www.financedigest.com/plan-to-improve-german-rail-transport-may-worsen-congestion-industry-warns.html "Plan to improve German rail transport may worsen congestion, industry warns"). Another skill to [invest in is people management](https://www.financedigest.com/mg-appoints-former-head-of-axa-investment-managers-andrea-rossi-as-new-ceo.html "M&G appoints former head of AXA Investment Managers Andrea Rossi as new CEO"), as this won’t be replaced. As long as there are people in the workplace, there will [need to be other people](https://www.financedigest.com/britain-says-6000-more-people-needed-for-trial-of-merck-covid-pill.html "Britain says 6,000 more people needed for trial of Merck COVID pill") there to recruit and manage them. Negotiation is also a skill that is unlikely to be replaced. Ask what [skills will be useful in the future](https://www.financedigest.com/technology-skills-and-servitization-a-brighter-future-for-manufacturing.html "TECHNOLOGY, SKILLS AND SERVITIZATION: A BRIGHTER FUTURE FOR MANUFACTURING?") and make these integral to your business. Everyone needs to keep up to date with the [latest trends](https://www.financedigest.com/truck-mounted-concrete-mixer-market-size-top-key-players-latest-trends-regional-insights-and-global-industry-dynamics-by-2022.html "Truck Mounted Concrete Mixer Market Size, Top Key Players, Latest Trends, Regional Insights and Global Industry Dynamics By 2022").

To make sure automation makes you irreplaceable, as opposed to replaceable, you’ll need to plan ahead and be proactive on both a professional and [business level](https://www.financedigest.com/ukraine-war-energy-crisis-send-german-business-sentiment-to-lowest-level-since-june-2020.html "Ukraine war, energy crisis send German business sentiment to lowest level since June 2020"). Upskill in areas that cannot be done by [technology and stay ahead of the game](https://www.financedigest.com/adverty-wins-third-us-patent-for-brainimpression-bringing-ad-viewability-technology-to-gaming-on-mobile-tv-screens-and-the-wider-metaverse.html "Adverty wins third US patent for BrainImpression™, bringing ad viewability technology to gaming on mobile, TV screens and the wider metaverse").

With [technology continually](https://www.financedigest.com/why-anti-spoofing-fingerprint-technology-is-essential-for-the-continued-growth-of-digital-payments.html "Why anti-spoofing fingerprint technology is essential for the continued growth of digital payments") enhancing, a lot of people are feeling uncertain about the security of their jobs. Input your job on our [automation tool](https://www.theaccessgroup.com/hr/resources/impact-of-automation/), and find out the percentage and likelihood of your current job becoming automated. How should you be preparing and developing your skill-set now, to meet the [workplace needs of the future](https://www.financedigest.com/employee-benefits-fit-for-the-workplace-of-the-future.html "Employee benefits fit for the workplace of the future")?


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