Keeping tabs on competitors

Hey product folks, how do you guys keep tabs on your competitors? What information do you generally look for?

Being from a tech background, I go in-depth on everything like website changes, new marketing campaign launch, using their product, new product launches, new hiring posts (possibility of expansion), annual reports etc. in depth. I spend a lot of time doing this, and it gets too immersive sometimes, deviating me from my work.

Are there any tools that can help automate this?