The rapid evolution of automation technologies like robotic process automation (RPA), artificial intelligence (AI), and machine learning (ML) has set the stage for a new wave of innovation. However, that also means companies can expect more disruption from more sources. So, no matter what industry you’re in, rebooting your business with the latest automation tech isn't just a smart move—it's essential for success.
This blog highlights three intelligent automation technologies poised to accelerate the speed and scale of innovation while making businesses more resilient, decision-making more effective, workers more productive, and customers more delighted in 2024.
Learn how to implement end-to-end process automation strategies successfully.
1. Copilot automation ushers in new era of digital assistants.
Buckle up because the evolution of intelligent automation has shifted into high gear with the emergence of AI copilots. According to the MIT Technology Review, 81% of organizations expect AI to boost efficiency in their industry by at least 25%, with nearly 30% expecting a boost of 50%. That’s where AI copilots come into play.
In mixed-autonomy environments, copilots use large language models (LLMs) and generative AI to automate operations and enhance human-machine collaboration. They represent a significant leap beyond basic chatbots, ushering in a new era of intelligent digital assistants. Powered by generative AI trained by LLMs, copilots excel at automating tasks, navigating complex queries, and offering tailored recommendations. These versatile assistants boast a robust skill set, including the ability to:
Develop automation workflows using code.
Strategically select triggers and steps for seamless automation.
Employ conditional logic when necessary to optimize workflows.
Perform data analysis and write to data tables with precision.
Identify and utilize appropriate APIs and commands.
Seamlessly integrate tools across technology stacks.
In the high-stakes world of security operations, repetitive tasks like patching systems and hunting down malware waste valuable time for IT teams. However, using copilot automation tools to automate these mundane chores frees up precious time for tackling strategic challenges.
But the benefits aren't confined to security operations teams; AI copilots are versatile enough to streamline operations across multiple domains, from cloud security to IT management. Plus, they're scalable, integrating seamlessly with existing tools to boost efficiency without breaking the bank.
However, it's important to remember that while copilots transform intelligent automation, they're no substitute for human expertise. Human analysts bring invaluable context and decision-making skills, ensuring a balanced, mixed autonomy approach to security operations.
Building on the transformative potential of AI copilots, another enterprise automation tool, AIOps (AI for IT operations), helps companies run their IT operations with next-level efficiency and greater availability.
Discover which hyperautomation technologies drive immediate and future business impact in the Gartner® Emerging Tech Impact Radar: Hyperautomation Report.
2. AIOps fortifies the tech stack.
Automation plays a significant role in identifying, responding to, and resolving incidents to reduce system downtime. In 2024, AIOps platforms are emerging as a cornerstone of the enterprise automation stack, helping IT teams deal with the exponential growth of application data that must be captured and analyzed to keep business operations running smoothly.
Platform features and functionality.
AIOps platforms leverage big data and machine learning capabilities to automate essential operational tasks for IT and business users. These tasks range from performance monitoring to event analysis and IT service management. A typical AIOps platform comprises these key features:
- Actively ingest and analyze data across multiple domains.
- Establish a topology to understand asset relationships and dependencies.
- Correlate events to swiftly identify incidents and their causes.
- Employ pattern recognition to detect anomalies and trends.
- Recommend remediation actions based on insights gathered from analysis.
But instead of juggling multiple dashboards and reports, AIOps platforms offer a unified snapshot of service health, making it much easier for IT to spot and fix issues before they spiral into customer complaints. How? By employing artificial intelligence and machine learning algorithms, AIOps sift through the noise, pinpoint the root cause, and slash the need for endless and costly meetings involving multiple IT teams. It's a game-changer for executives aiming to streamline operations and remove friction from the customer experience.
Adoption of AIOps gains momentum.
The AIOps market is projected to grow significantly, from $21.9 billion in 2023 to an estimated $64.4 billion by 2028. However, its impact extends beyond what mere statistics convey. Experts predict AIOps will transform IT operations as we know them. Yes, there’s some initial inertia to overcome, but with AI capabilities rapidly evolving, the future of AIOps in enterprise business process automation looks bright.
3. Blockchain bolsters data security and efficiency.
Skeptics worry about the efficacy of blockchain applications. Even so, in 2023, a slew of major financial institutions implemented new systems built around blockchain, setting the stage for an acceleration of enterprise adoption into 2024.
For example, Goldman Sachs, BNP Paribas, and Deloitte, among more than 30 others, recently introduced the Canton Network, a pilot privacy-enabled global blockchain "network of networks" specifically designed for capital markets and institutional assets.
Moreover, a flurry of blockchain pilots leveraging distributed ledger technologies has paved the way for a new generation of automated transactions that are faster, more secure, and cost-effective. While skepticism still lingers, blockchain's momentum suggests a notable shift in institutional perception regarding its efficacy. However, the big question is: How quickly will blockchain gain widespread adoption across the digital economy?
Global blockchain market set to explode.
Experts expect the global blockchain market to surge from $11 billion in 2022 to a jaw-dropping $265 billion by 2028, signaling a paradigm shift in how businesses approach data management and digital process automation.
The rise of scalable blockchain solutions may unlock a new era of business process automation across industries, including financial services, healthcare, manufacturing, and the public sector.
For example, companies are getting serious about using blockchain in supply chain management to improve transparency and traceability throughout the supply chain. Recording transactions on a decentralized ledger allows companies to ensure the authenticity and integrity of products, reduce the risk of counterfeit goods, and streamline logistics processes.
Innovative companies are also using blockchain to onboard customers more quickly and securely. Smart contracts, which are self-executing contracts with the terms of the agreement directly written into code, represent another use case in which digital leaders are exploring the benefits of blockchain technology.
Align tech adoption with business goals for success.
Reflecting on the transformative potential of blockchain, copilot, and AIOps automation, it's evident that embracing these emerging technologies is essential for fortifying your organization against future challenges and capitalizing on opportunities for sustainable growth and innovation. However, successful integration relies heavily on aligning the adoption of these technologies with your enterprise's overarching business goals and strategies.
Discover which use cases you should focus on for business process automation. Download theGartner® Market Guide for Business Process Automation Tools.
