Software robots are having a big impact on the way employees work.
These bots, which do not have a physical form as they reside on servers or in the cloud, will increase productivity by allowing human workers to focus on more complicated and engaging tasks while the bots take care of repetitive or rule-based tasks, the Wall Street Journal reports.
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Companies like Ernst & Young and Walmart Inc. use these bots to help provide information to human resources, as well as to transfer employee information from Word documents in order to keep teams up to date on important company updates or travel reminders, the WSJ reports.
Last year, EY also began working with vendors to create a line of software robots for its clients. The company is now anticipating revenues of approximately $750M from the investment over the next two years.
While the entrance of the bots could mean employees are freed of tending to mundane tasks sooner than imagined, it could also result in the loss of an estimated 4 million jobs in the U.S. over the next five years.
For better or worse, this trend is expected to grow. The market for software robots is anticipated to reach a global total of $2.9B by 2021, an increase from $250M in 2016, the WSJ reports.
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