Navigating towards hyperautomation and the empowerment of human capital in family businesses: a perspective article

Abstract

Purpose This paper aims to explore the past and future impacts of automation on family businesses, with a focus on the opportunities for human capital empowerment. Design/methodology/approach This paper draws upon a contemporary literature search to examine a range of scholarly and practitioner perspectives of the challenges and benefits of automation, exploring the evolvement towards hyperautomation and the empowerment of human capital in family businesses. Findings Automation, transforming to hyperautomation, general purpose artificial intelligence (AI) and beyond has the possibility of radically improving productivity. Fear of job obsolescence has been present since the birth of modern automation, and whilst some jobs are at risk of redundancy, a net gain towards higher-skilled labour is already evident. Family business leaders must be prepared to react appropriately to the accelerating war for talent by implementing a strategy for human capital empowerment. Originality/value This unique paper synthesises developments in automation and proposes a future perspective centred upon the empowerment of human capital in family businesses.