Intelligent automation and AI-powered systems will have a profound impact on future enterprises
The world nowadays has moved to a new era of digitization where businesses have access to every sort of data and technology. Advancements in artificial intelligence, machine learning, vision technology, and other digital transformation technologies have enabled companies to automate their workflows more efficiently. With advances in automation, artificial intelligence becomes more advanced, improving business performance and productivity. This development brought a holistic solution for digital transformation, intelligent automation. Combining the likes of AI, machine learning and RPA, intelligent automation is used to create smart business processes and workflows that think, learn and adapt on their own.
With businesses approaching forward to digital innovation, intelligent automation has become a top priority for many executives. Forrester predicts that the RPA market will reach US$2.9 billion in 2021 from US$250 million in 2016. Here are the top intelligent automation trends to expect in 2021.
RPA Will Drive Next-Level Business Workflow
As an effective and affordable means of realigning multiple systems to the real information needs of a business process, RPA can streamline businesses’ digital information flow that is moving across distinct departments’ applications. Many B2B companies are expected to harness RPA capabilities and leverage it with technologies like process orchestration and document intelligence that can help them automate their mission-critical business and create high-value workflows. Gartner projects that global RPA software revenue will top US$1.89 billion in 2021, an increase of 19.5 percent from 2020.
Greater Strategic Value for Business Transformation
The year 2020 has made automation a strategic and boardroom imperative. By applying intelligent automation, enterprises can gain increased efficiencies and new capabilities beyond human abilities, such as documents and applications processing, problem detection and improvement recommendations. It allows them to convert voluminous amounts of data into processable information, synthesizing it into a functional format and recommending courses of action.
Prioritizing High-Value Workflows
Intelligent automation proposes concrete solutions to businesses. It encompasses business process management, RPA, AI and integrated systems, prioritizing businesses’ high-value workflows. It can yield the most value and generate unique, personalized customer interactions, leading to superior customer experience and satisfaction. It enables time and costs savings, significantly lessening human intervention in the process cycle, which allows employees to focus more on creative improvements, strategy, making decisions, etc.
5G Data Wave
The fifth-generation network (5G) provides customers speed and greater connectivity. Through this, companies will be able to transmit, glean and assess large amounts of data than ever before to power business strategy and decision-making. However, ingesting such amounts of data requires document and data intelligence technology essential to turn unstructured data into structured data assets. As intelligent automation is becoming a more widely understood solution in 5G transmission, it will be key for achieving document and data classification, sentiment analysis and content extraction from key documents.
Cloud Migration Will Continue to Accelerate
The need for cost optimization will significantly drive cloud adoption in 2021 and beyond. Gartner notes that cloud providers will continue to extend their native optimization capabilities to assist organizations in selecting the most cost-effective architecture that can deliver the required performance. It forecasts that the leading cloud service providers will have a distributed ATM-like presence to serve a subset of their services by 2023. On the other side, multi-cloud strategies will lower vendor dependency for two-thirds of organizations through 2024.