Hyperautomation in Enterprises
New Innovations have been disrupting the business sector by introducing automation and digitization. Did we ever think that we could automate logistics and supply chain? Forget that, did we even imagine the high influence of AI leading to smart homes and cities? Everything happened in a span of what, a decade? Yes, we are now living in a world going through rapid digital transformation and developing cutting-edge technologies frequently.
Enterprises swiftly adopted Robotic Process Automation to enhance business efficiency and growth. We are humans and our desires do not stop so quickly, especially if technology can increase ease and convenience. Hyperautomation promises exactly something like that.
Most of us would be familiar with the current hype about Hyperautomation across the industries. It was one of the top technological trends in Gartner’s Top Strategic Technology Trends 2021. Gartner mentions that hyper-automation is the idea that anything that can be automated in an organization should be automated. Full automation of business processes is a very interesting technique to adapt to. Hyperautomation ensures automation of end-to-end business processes unlike RPA that only performs rule-based automation. RPA, AI, and machine learning are combined to enable intelligent automation or hyper-automation. The abundant flow of unstructured data and the need for intelligent data analytics led to the adoption of a full automation strategy. According to reports, Global Hyperautomation Market is expected to grow at a CAGR of 19% from 2019-2027 by exceeding USD 23.7 billion.
There are many benefits of Hyperautomation that are influencing enterprises to incorporate it to streamline business operations. Let us look at some of them.
1. End-to-end automation of complex business processes and breaks business silos through workforce engagement. To enhance the digital transformation, hyper-automation connects everybody in an organization by connecting data and operations. A digital workforce is the result of intelligent automation.
2. Takes up time-consuming and repetitive tasks with maximum speed and accuracy. Thus it enables the employees to focus on more skilled tasks.
3. Hyperautomation improves the agility of an enterprise by enhancing the speed for threat detection, provides better visibility into the organization, real-time accurate data processing, and intelligent business insights.
4. Hyperautomation, unlike RPA, can provide efficient business insights and predictions that help enhance growth and productivity. Today, industries demand fast data-driven decisions that can enable the identification of trends and flaws. Intelligent automation can fuel this with extensive cutting-edge tools.
Hyperautomation can be leveraged by all industries. The automatic creation of intelligent bots and gathering data-driven insights from them can predict the future of an enterprise. Digital transformation and intelligent automation are included in the strategic agenda of many enterprises. Enhancing interoperability and allowing consistent innovation is significant to business growth and success. To remain inside the competitive edge, enterprises should consider hyper-automation as an important business goal.
*This interview is covered by Swiftnlift Business Magazine