Intelligent Automation and Your Business

Welcome to The CATALYST!

In this maiden issue of The CATALYST by dipoleDIAMOND, we dive into a topic you should not ignore in your business: Intelligent Process Automation (IPA). Digital transformation is no longer a buzzword, and companies everywhere are embracing automation technologies to streamline operations and achieve unprecedented efficiency.

In This Issue

A quick glance at what’s inside:
📝 Market Trends: Hyper-automation Gains Momentum
💡 Tech Insights: Intelligent Automation Enters the Age of AI
📊 Data Insight: The Benefits of Intelligent Process Automation 
✅ Action Tips: Adopting Intelligent Automation

Hyper-automation Gains Momentum

The automation landscape is evolving at a rapid pace. Companies are increasingly moving beyond simple task automation to explore hyper-automation strategies that combine AI, machine learning, and robotic process automation (RPA). Gartner predicts that by 2025, 70% of enterprises will undergo digital business transformation, with AI and intelligent automation playing a crucial role​. This trend is driven by a need to reduce operational costs, enhance customer service, and stay compliant with new regulations.

Hyper-automation is gaining momentum. This trend involves integrating diverse automation tools to address complex, multi-step workflows at scale. Rather than automating isolated tasks, hyper-automation aims to provide end-to-end process management, enabling businesses to scale efficiently and adapt quickly to change​. For companies already leveraging automation, the focus is shifting to optimizing these systems through AI-driven tools, which can automate not just repetitive tasks, but entire business processes from start to finish.

The age of AI has come for Intelligent Automation.

ISG’s latest research reveals that by 2026, half of enterprises will leverage intelligent automation integrating AI to streamline processes, boost decision-making, and allow employees to focus on complex tasks. The ISG Buyers Guides highlight four key software categories: process automation, conversational automation, intelligent document processing, and process discovery. Leading providers include ServiceNow, UiPath, and Microsoft. ISG advises careful adoption of generative AI due to both its potential and challenges. The research aims to guide organizations in optimizing automation for enhanced innovation and efficiency.

And the Leaders are 🥁

Intelligent Automation: ServiceNow, UiPath, Microsoft
Process Automation Platforms: ServiceNow, UiPath, Appian
Conversational Automation: ServiceNow, Verint, IBM
Intelligent Document Processing: ServiceNow, UiPath, Automation Anywhere
Process Discovery and Mining: ServiceNow, Microsoft, UiPath

ServiceNow, leads the pack and our partners, Microsoft and UiPath are well represented.

For more details, visit Business Wire.

This Month’s Data Insight

A recent Gartner survey revealed that 73% of CIOs planned to increase funding for AI and machine learning in 2024, signaling a significant investment in intelligent automation​. This focus on technology-driven growth is expected to drive market expansion and intensify competition across industries.

Benefits of Intelligent Process Automation For Businesses

Analysis

The surge in investments by CIOs into AI and machine learning, as revealed by Gartner, is more than just a reaction to technological advancements—it reflects a broader strategic shift within organizations. 

The fact that 73% of CIOs planned to boost their budgets for these technologies in 2024 points to the growing belief that intelligent automation is critical for staying competitive.

Several factors contribute to this trend. First, the expanding adoption of Generative AI (GenAI) and other machine learning applications is driving tangible business benefits, such as enhanced productivity and improved customer engagement. 

A Capgemini report shows that companies that have fully embraced these technologies have experienced productivity gains of 7.8% and an increase in customer engagement by 6.7%. This growth in measurable returns is pushing more organizations to prioritize AI in their operational budgets.

Moreover, the push for intelligent automation is not just limited to large enterprises. Smaller organizations, especially those in the $1 million revenue range, are also significantly increasing their GenAI budgets. This demonstrates a broader acceptance of AI-driven solutions as key drivers of growth and efficiency, even for mid-sized players in the market.

The increased funding also reflects a strategic pivot toward automation maturity across industries. For example, 53% of companies in high-tech sectors and 47% in energy/utilities are already enabling GenAI to automate complex processes, from sales to research and development (R&D).

The evolving focus is not only on integrating AI but also on building robust data governance frameworks, ensuring data security, and addressing AI ethics to navigate compliance and trust issues as organizations scale their AI initiatives.

The emphasis on enhancing cybersecurity budgets, even amid economic uncertainties, further underscores the role of AI in addressing modern business challenges.

With the cybersecurity market growing at 11.6% year-over-year and IT budgets increasingly being directed toward proactive measures, AI is becoming an integral part of security strategies to handle evolving threats like ransomware and data breaches. For CIOs, investing in AI and machine learning is about laying a strong foundation for future innovation and resilience in an increasingly digital economy.

Tips for Adopting Intelligent Process Automation

Intelligent Process Automation (IPA) goes beyond basic RPA by incorporating AI, machine learning, and data analytics to optimize entire business processes. In 2024, organizations are adopting IPA to tackle inefficiencies, reduce human error, and boost agility in responding to market changes. Here’s how it can transform your business:

• 💡Tip 1: Start small and scale up. Begin with automating simple, high-volume tasks and expand to more complex processes as your team becomes comfortable with automation. Look for repetitive, manual tasks that consume significant time and resources.
  
  

• 💡Tip 2: Prioritize end-to-end process management. Focus on automating not just isolated tasks, but entire workflows for a seamless operation.
  
  

• 💡Tip 3: Leverage No-Low Code and AI. Choose low-code platforms that empower teams to build and manage automations with minimal IT involvement. Use AI-driven insights to make your automated workflows more adaptive and responsive.

Words of Wisdom

Question for You

Which manual process in your business would you love to see transformed through automation? 

Recommended Reading

• https://dipolediamond.com/role-of-ai-automation-in-enhancing-business-process-operations/

• 120 Automation Statistics: Business, Machine Learning and Challenges

Final Thoughts

In a world where every second counts, automation is not just a tool, It’s the new productivity hack and key to staying ahead. It’s time to let your team focus on what truly matters.

Discover how automation can free up your team to focus on what truly matters.