Robots to take 30% of graduates’ work, auditor warns

Robots to take 30% of graduates’ work, auditor warns

One of the world’s largest consulting firms is planning to use apps and robots to do 30% of the workload of its employees.

EY said it would automate tedious administrative tasks over the next five to seven years. This, the company claimed, would enable Millennials to become partners in their twenties — 10 years ahead of schedule.

The company, which has 231,000 workers worldwide, has insisted the roboticisation of its business is not a ploy to axe thousands of jobs but to make its staff more efficient.

“A lot of graduates are in the office until midnight adding information into spread sheets,” said Harry Gaskell, EY’s chief innovation officer for UK and Ireland “That knowledge is now in machines, so we can free up graduates to do more entrepreneurial projects.”

Concerns are growing that large swathes of the British workforce could become obsolete as robots take over white-collar roles, as well as manual labour.  Banks and other financial services companies have been shedding tens of thousands of staff as customers increasingly turn to online services.

EY is planning to follow a similar path to British insurer Aviva, which asked its employees in February if their job could be better done by a robot. If the answer was yes, they would be retrained for another role.

Research by Oxford University recently warned that 35% of jobs in the UK were at risk from automation over the next 20 years.

A similar report by management consultant McKinsey warned that 86% of bookkeepers, accountants and auditing clerks could see their jobs taken by robots.

Source: The Sunday Times