What’s Behind Intelligent Automation’s $232 Billion?
$232 billion is a big number.
That’s how much KPMG says organizations will invest in intelligent automation technologies annually by 2025. That’s coming from an investment level of about $12.5 billion today. Growth projections like that prompt some immediate questions.
The first is, what’s intelligent automation? Next is, what expected value is driving such a big number? Third is, if it’s so great, why is the investment level so (comparatively) low today?
The first question has an easy answer. Intelligent automation is defined as the integration of emerging cognitive and robotic computing technologies into human-driven business processes and customer interactions. These technologies include artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA).
Answers to the other two (and much more) are in part 3 of our Future of Work international survey report. We asked IT leaders of large enterprises in the U.S. and Europe for their thoughts on intelligent automation. Based on their responses, mastering it is key to defining competitive advantage in the Digital Age:
The data shows that intelligent automation is good for customers, it’s good for employees, it’s good for operations and it drives business growth. The thing is, only 12% of respondents said their organizations do it well today.
Why? It comes down to complexity:
- 89% of respondents say their organizations struggle to adapt with technology
- 80% say their organizations “fail to understand how artificial intelligence would change everything”
- 66% have difficulty integrating existing IT investments and skills with demanding AI and RPA technology
- The need to change IT culture (44%) and application development practices (31%) were the next highest-ranked responses
What’s required is a new approach to IT/business collaboration and application development that can dramatically reduce the learning curve so that organizations of all types can unleash the value of intelligent automation. Low-code development is this new approach.
To learn more about it, read the full Future of Work, Part 3 report.