In the wake of the COVID-19 pandemic, automation has made a huge splash across the globe, transforming business and having a significant impact on the growth and development cycles of organizations. Automation trends such as intelligent automation, hyperautomation, chatbots, etc. are being widely used by enterprises to process massive amounts of data, automate business operations, and make them faster and more efficient. Changing customer demands are driving businesses to double down on delivery efforts—refocusing on operational efficiency, productivity, and resiliency.
A recent Deloitte report stated that 53% of organizations have begun implementing robotic process automation (RPA). Additionally, Gartner predicts that hyperautomation will reduce organizations’ operating costs by 30% by 2024. By 2025, the market size of hyperautomation software will reach nearly $860 billion.
What businesses need today is agility, but most organizations fail to achieve it due to legacy technology infrastructure. Innovations in automation will enable organizations to reuse their existing infrastructure to adapt to changing customer needs and help them gain customer loyalty in a cost-effective manner.
Low-code and no-code platforms use visual interfaces to enable users to develop their own Business solutions without extensive coding knowledge. Business users praise low-code platforms because it is easy to adopt and learn to create the desired solution in a matter of days, without having to write code or know a programming language. Platform code automation enables market leaders to introduce low-code and no-code platforms into their product lines as they see huge growth potential for global adoption in 2023 across industries.
are machines that interact side by side with humans in a shared professional environment. These cobots can include heavy machinery in warehouses, robots in assembly lines, and robots used for metal cutting. Collaborative robots are known to quickly adapt to new tasks, learn from repetition and pattern recognition, and optimize workflow. Since cobots exist in shared environments and do not replace human labor, the demand for cobots in the manufacturing industry is rising and will become a trend in the coming years.
Data security has always been one of the top priorities for chief information officers in various industries. Security leaders are designing new ways to create robust and resilient frameworks for their organizations. Many information security OEMs have introduced automated security that does not require any human intervention, using artificial intelligence and machine learning to provide continuous monitoring of the data environment. It also uses predefined algorithms to detect and resolve cyber threats. Security meshes have been in constant demand, with organizations and security leaders looking to adopt a network security mesh where different security services can be integrated in a flexible framework.
Gartner states that by 2024, organizations adopting the above architecture will reduce the financial impact of security incidents by an average of 90%. However, to be successful, they must manage APIs, connections, and automation bots from a single management interface.
Hybrid working models bridge the gap between the technology and devices used in personal and professional environments. People working from home have become accustomed to smart devices and find them useful and efficient in many ways. These smart devices will also find their way into their workplaces as they are able to complete certain tasks efficiently. Organizations are recognizing the potential of smart devices and are working to introduce them into the workplace, creating a collaborative environment between devices and people to achieve greater efficiency. Voice-activated smart devices can be used to manage schedules, set reminders, make calls, and even help with reading.
The manufacturing industry has been using predictive maintenance (PdM) technology to identify anomalies in processes and machines and proactively fix them. PdM examines current and past data from connected machines and applications to identify changing patterns and propose remedial actions before they get out of control. This technology has become a trend in the IoT space in recent years, with the automation of equipment maintenance reducing the potential cost impact on the organization due to failure or downtime.
According to Gartner, 60% of IoT predictive maintenance solutions will be offered as part of enterprise asset management products by 2026, compared with 15% in 2021.
2023 will be the year of enterprise automation. Talent shortages, soaring talent costs and competition will drive organizations towards automating processes and reducing their reliance on human labor. Automation will also help the talent pool engage in more productive tasks, promoting career and skill growth while reducing burnout due to repetitive and redundant tasks. In 2023 and beyond, we expect organizations around the world will increasingly adopt innovative automation solutions to enhance production, manage supply chains, optimize operations, and deliver rich omnichannel customer experiences.
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