Tech companies, like most companies, are trying to automate more of their work, and a new report by McKinsey and Co. shows that automation is the key to boosting profits.
The report finds that the biggest gains in profit were made by companies that use automation technologies like virtual assistants, text-to-speech assistants, robotics and other machine learning tools.
In fact, the report finds automation is now the fastest-growing technology for most industries, and will be the fastest growing technology in more than half of U.S. businesses by 2025.
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The report, titled The Biggest Upside to Automation, is the first of its kind to track how companies are using automation technology to boost their profits.
It comes as technology is increasingly becoming a core part of companies’ business models, including those of Apple, Google and others.
In the report, McKinsey predicts that automation will have an impact on more than 70% of the global economy by 2020, with the U.K. and France being the top two destinations for automation.In the U