The artist Pablo Picasso once said you should learn the rules like a pro so you can break them like an artist. It’s clear he wasn’t in charge of a large corporation, though. Breaking the rules in business is costly, and it’s getting even more so. According to research by Thomson Reuters, 61% of compliance and risk practitioners expected to spend more on complying with rules and regulations in 2019 than they had in 2018.
Many business documents, from invoices to medical records, are boring, necessary and tedious to deal with. And until recently only humans had the ability to process them, locking smart people into low-value work. But now, technology has got to the point where it can not only read standard documents but also pick relevant information out from images and designs in complex layouts.
The Terminator has a lot to answer for. As the prospect of Artificial Intelligence (AI) becomes a reality in the workplace, barely a day goes by without a headline warning of some machine-led threat to jobs and livelihoods. It is indeed likely systems integration based on AI and Robotic Process Automation (RPA), an emerging form of business transformation based on the software robots, will change how we work and live. But not in the doomsday-scenario way often portrayed.