Skip to main content

Hyper-automation Propels Superior Business Process Redesign

When the world was disrupted by a global pandemic during 2020, many CEOs and their board of directors were consumed by reacting to immediate problems. Meanwhile, a few forwarding-thinking enterprise leaders also paused to invest in accelerating their prescient digital transformation agenda.

What enables executives to envision an opportunity while others see only challenges? Strategic foresight, and a willingness to embrace the apparent changes that are transforming the legacy status quo.

During this period of uncertainty, hyper-automation investment has gained new momentum. Hyperautomation is the application of advanced technologies that augment humans by helping to streamline processes in new ways that are significantly more impactful than the legacy approach.

Hyperautomation Market Development

The global market for technology that enables hyperautomation will reach $596.6 billion in 2022, according to the latest worldwide market study by Gartner. This is up from $481.6 billion in 2020, and a forecast of $532.4 billion at the end of 2021.

"Hyperautomation has shifted from an option to a condition of survival," said Fabrizio Biscotti, vice president at Gartner. "Organizations will require more IT and business process automation as they are forced to accelerate digital transformation plans in a post-COVID-19, digital-first world."

Hyperautomation is an approach that enables organizations to rapidly identify, vet and automate as many processes as possible using technology, such as robotic process automation (RPA), low-code application platforms (LCAP), artificial intelligence (AI), and virtual assistants.

According to the Gartner assessment, tools such as RPA, LCAP, and AI are considered process-agnostic software applications. They can be used in any organization, across multiple IT and business use cases.

Process-agnostic software will likely be most in demand as key enablers of the hyperautomation trend. The market is expected to see double-digit growth through 2022. Other software used to automate more specific tasks, such as ERP, supply chain, and CRM systems will also contribute to the growth of the market.

Gartner predicts that through 2024, the large enterprise drive towards hyperautomation will lead more organizations to adopt at least three out of the 20 process-agonistic types of software that enable hyperautomation.

"Organizations are transitioning from a loosely coupled set of automation technologies to a more connected automation strategy," said Cathy Tornbohm, vice president at Gartner.

The fastest-growing category of hyperautomation-enabling software includes tools that provide visibility to map business activities, automate and manage content ingestion, orchestrate work across multiple systems, and provide complex rule engines.

Technologies to automate content ingestion, such as signature verification tools, optical character recognition, document ingestion, conversational AI, and natural language technology (NLT) will be in high demand.

Gartner analysts say organizations will need such tools to automate the digitalization and structuring of data and content – for example, automating the process of digitalizing and sorting paper records.

Outlook for Hyperautomation Applications Growth

Gartner expects that by 2024, organizations will lower operational costs by approximately 30 percent by combining hyperautomation technologies with redesigned operational processes.

"The shift towards hyperautomation will be a key factor enabling enterprises to achieve operational excellence, and subsequently cost savings, in a digital-first world," said Ms. Tornbohm.

That said, I believe enterprise CIOs and CTOs will seek out the professional services of IT vendors that have already demonstrated their deep domain industry knowledge and associated expertise.

Typically, the successful deployment of hyperautomation software requires a thoughtful and thorough analysis of the prior business processes. Rather than merely automating existing activities as-is, savvy business process consultants can reimagine the steps that lead to the desired business outcome.

Improving, redesigning, and automating processes can be enhanced by Agile and Design Thinking methodologies that have proven to be effective tools that empower consultants to help their clients achieve the full potential of their digital transformation agenda. They are 'must-have' skills for superior business process reengineering.

Popular posts from this blog

Demand for Quantum Computing as a Service

The enterprise demand for quantum computing is still in its early stages, growing slowly. As the technology becomes more usable, we may see demand evolve beyond scientific applications. The global quantum computing market is forecast to grow from $1.1 billion in 2022 to $7.6 billion in 2027, according to the latest worldwide market study by International Data Corporation (IDC). That's a five-year compound annual growth rate (CAGR) of 48.1 percent. The forecast includes base Quantum Computing as a Service, as well as enabling and adjacent Quantum Computing as a Service. However, this updated forecast is considerably lower than IDC's previous quantum computing forecast, which was published in 2021, due to lower demand globally. Quantum Computing Market Development In the interim, customer spend for quantum computing has been negatively impacted by several factors, including: slower than expected advances in quantum hardware development, which have delayed potential return on inve

AI Semiconductor Revenue will Reach $119.4B

The Chief Information Officer (CIO) and/or the Chief Technology Officer (CTO) will guide Generative AI initiatives within the large enterprise C-Suite. They may already have the technical expertise and experience to understand the capabilities and limitations of Gen AI. They also have the authority and budget to make the necessary investments in infrastructure and talent to support Gen AI initiatives. Enterprise AI infrastructure is proven to be expensive to build, operate and maintain. That's why public cloud service provider solutions are often used for new AI use cases. AI Semiconductor Market Development Semiconductors designed to execute Artificial Intelligence (AI) workloads will represent a $53.4 billion revenue opportunity for the global semiconductor industry in 2023, an increase of 20.9 percent from 2022, according to the latest worldwide market study by Gartner. "The developments in generative AI and the increasing use of a wide range AI-based applications in data c

Industrial Cloud Computing Apps Gain Momentum

In the manufacturing industry, cloud computing can help leaders improve their production efficiency by providing them with real-time data about their operations. This has gained the attention of the C-suite. Total forecast Industrial Cloud platform revenue in manufacturing will surpass $300 billion by 2033 with a CAGR of 22.57 percent, driven by solution providers enhancing platform interoperability while expanding partner ecosystems for application development. ABI Research found the cloud computing manufacturing market will grow over the next decade due to the adoption of new architectural frameworks that enhance data extraction and interoperability for manufacturers looking to maximize utility from their data. Industrial Cloud Computing Market Development "Historically, manufacturers have built out their infrastructure to include expensive data housing in the form of on-premises servers. The large initial upfront cost of purchasing, setting up, and maintaining these servers is