The latest Trusted Advisor report discusses whether automated testing or developer-testing can effectively replace manual testing.
According to the report's author, Tom Cagley, automated testing is not currently sufficient to entirely replace manual testing. In addition, research in unclear on whether or not developers can replace testers. Thus, at present, manual testing is still the optimal choice. Further details and source materials information is available in the report.
Trusted Advisor is free for all IT professionals. As a member, you can submit questions that generate the monthly reports, as well as vote each month on the question you want to have researched.
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