Automation Technologies expected to have maximum impact in 2021
With the escalating and stiff competition in the market, organizations today don’t want to restrict their capabilities to conventional automation. In the most recent technology trends, businesses are looking for the smart automation tools to resolve organizational challenges, enhance productivity, efficiency, and accuracy which renders advantages from the business perspective to the organization as a whole.
Senior management and IT leaders are identifying new ways to leverage the advancements like smart automation, ML, and predictive analytics, which are technologies that are rapidly gaining traction in the current market scenario. AI ensures that businesses obtain in-depth insights, analytics, and business solutions like never before.
According to research, 46% of IT decision makers state that advanced analytics, powered by AI, big data, ML, and deep learning have considerably influenced their electronic innovation initiatives over the previous few years.
Present clients crave those custom-tailored experiences due to the progression in technology. This is a reality on account of deep learning and advanced analytical capacities. These advancements not only assist you in analyzing the moves of your clients, but also enable you to correct foretell their upcoming moves.
Advancements in smart automation tech provide the possibilities for enhanced client experiences and on-demand delivery by providing what customers crave and desire and at the exact right time that they want it. This instinctual human behavior ensures that no human intervention is required for automation.
In the not too far away future, the asks for organizations are to fill the gap between the time taken to properly implement smart automation advancements, such as AI and intelligent automation and the recorded time taken to attain maturity.
Another issue is that there is reduced understanding of the prospective advantages of AI to provide solutions to business issues. The clients are focusing on adoption of AI as a technological advancement over implementing and leveraging AI as a tool to provide solutions to current issues plaguing the business.
According to the latest IBM report on shifting towards enterprise-grade AI, 9/10ths of overperforming organizations are evaluating AI for adoption and eventual implementation within their business framework. This latter step – the focus on implementation is the most crucial advancement that is bound to create a paradigm shift within the industry.
Here, you will see the information obtained will assist in bridging the gaps and identifying the opportunities, trends, and advantages of AI and other smart technologies in various industries like life science, oil and gas, Nordics, pharma, defense, and mining.
This begs the question, which smart enterprise technology will have the most far-reaching impacts on companies? According to Inc., one of the greatest entities revolutionizing businesses and society in 2020 was embedded intelligence, producing products, bots, and business applications smarter than ever before.
Listed here are the technologies which, according to AIHubSpot, will have the most influence on businesses and organizations.
- Machine Learning Chatbots or virtual assistants
- Text and speech analysis
- Robotic Process Automation (RPA)
- Artificial Intelligence
- Predictive analytics
- Smart devices
- Cognitive analysis or computing
- Internet of things
In what areas could the artificial intelligence and smart automation tools have the most considerable effect on organizations as a whole?
Organizational leaders are still not certain where exactly to utilize artificial intelligence to gain the biggest advantages moving forward. Integrating AI solutions throughout the business will not be an affordable proposition. Considerable investments will be required in talent and technology upgrades in addition to far-reaching change initiatives to ensure AI adds value to organizations from the business perspective.
What are the largest obstacles to initiating a smart business strategy in the business?
Implementation of Robotic Process Automation in your organization might appear to be the best case scenario and more often than not, it is. RPA can assist organizations in eradicating monotonous erroneous activities and enhance productivity and efficiency considerably.
Sadly, it’s not like it appears to be. Implementation of RPA in the businesses have several challenges that you should be aware of. The following are a list of challenges that you’re likely to face during RPA implementation.
- Quick advancements in technology
- Recruiting the correct people
- Obtaining optimal value from investments
- Upgrading/working with/using legacy systems
- Competitive priorities
- Tagging initiatives to ROI
- Obtaining Senior Management buy-in
- Assigning internal responsibility
- Lack of apt vendors
In summary, though there are considerable challenges in the implementation of smart business strategy within companies, there are a plethora of advantages in moving towards smart solutions. Companies should utilize SaaS platforms which bring together RPA and artificial intelligence to provide value as a strategic asset throughout the business. This will help them to move forward as the technology reaches maturity as an ongoing process. Hyperautomation technologies are critical to fulfill the requirements of the digitally sound clients.