The impact of the regulatory environment on digital automation in professional services
The impact of the regulatory environment on digital automation in professional services
The digital automation transformation that started in the last decade is changing business models by freeing humans from low value-added repetitive tasks and influencing consumers’ lives through cheaper online service delivery. Digital automation is also favouring the emergence of brand-new services and transforming the nature of many professional services. These rapid changes have prompted authorities to regulate and incentivise digital automation to guarantee that it improves consumers’ welfare. This report aims at providing relevant information on the interactions between the regulatory environment and the adoption of automated processes in four different professional categories: architects, lawyers, engineers and accountants. These interactions are economically relevant and complex to identify. They are economically relevant because adopting automated processes implies investment in ICT and human capital, which are engines of productivity growth. Higher productivity, coupled with a competitive environment, implies higher benefits for consumers. They are complex because the regulatory environment impacts digital automation adoption through various channels such as competition, finance, skills, investment, costs, and size. They are also complex to identify because both regulation and automation are not easily measurable. The report addresses relevance and complexity by adopting a comprehensive approach.
The study is part of a larger project that E4P is currently doing in partnership with Prometeia and BIP to produce report for DG GROW.
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