Learn how best to automate that task so you can start on other projects to automating other tasks.
Yup. But do it in secret and don't share the automation with the employer. Use your spare time to look for a new job.
IF you come to the point where know your job is going to evaporate, it's better not to make a lot of waves (and that includes positive ones) until you are ready to go anyway. Your employer is already NOT paying attention and may not have a full understanding of what you do already. You'll be facing "the Bob's" in no time.
There is a reason they call it "work." Boring and repetitive comes with that. Brush up on your Zen skills and deal with it. And FIND ANOTHER JOB.