Global IT association ISACA’s survey found that 67 percent of global financial services and banking professionals believe their organization will adopt robotic process automation (RPA), or robots that are programmed to perform specific business processes, within the next five years .

Manufacturing and engineering followed with 41 percent of individuals and insurance with 39 percent.

About 35 percent of respondents indicated that their organizations are currently using RPA, and 59 percent believe their organizations will begin implementing the technology within the next five years.

Survey respondents agreed that adopting RPA can offer a variety of benefits, including streamlining internal business processes (70 percent), reducing errors (58 percent), and reducing personnel costs (55 percent).

Only 37 percent of survey respondents cited potential job loss as a source of resistance to enterprise RPA adoption.

Among the 27 percent of respondents whose organizations experienced moderate or extensive resistance to RPA implementation, fear of job elimination rose to 56 percent, becoming a top concern.

About 38 percent say their organization's IT auditor is incorporating RPA into the audit practice, despite the survey's finding that organizations realize additional benefits when they use the audit technology.

Dustin Brewer, chief futurist at ISACA, said: "While opposition to RPA is not entirely unwarranted, the productivity and financial benefits it can deliver make it a worthwhile pursuit."

"However, it is important for enterprises to ensure that their RPA systems are secure and that the implementation supports enterprise objectives."

Sarah Simpkins

Sarah Simpkins is a journalist at Momentum Media, reporting mainly on banking, financial services and wealth.

Prior to joining the team in 2018, Sarah worked in commercial media and produced stories for a current affairs program on public radio.

You can contact her at [email protected].