Ten Automation Trends For 2024: What’s Next?(UPDATED)
There is great hope that the New Year will bring some relief here and there, given COVID-19 and the consequences of the pandemic. But companies can do a lot themselves to stabilize their business and make it fit for the future: for example, through intelligent automation with artificial intelligence. The following ten trends will shape the year 2024.
Where are we standing? What’s next?
In addition to the undisputed advantages of remote and hybrid work, there are also new hurdles in terms of efficiency, collaboration and data security. It is also becoming more difficult for large and small companies to attract and retain employees. And in many places, stagnant supply chains put business processes under pressure.
Automation Changes The Organizational Structure
An intelligent automation platform combines multiple technologies that affect the entire company. This allows different business functions to be integrated – a good reason to rethink the distribution of tasks. Companies can combine previously separate tasks in a common automation department managed by a single person. In this way, you remove bureaucratic hurdles and, at the same time, increase the processing speed.
From the point of view of the individual employee, the boundaries between the departments are blurring. Low-code technologies are now widespread. Regardless of whether you come from management or technology – anyone can become a developer.
This does not mean that IT managers should implement the business strategy or that accountants tell developers how to implement an application technically. It is more about the fact that employees who create applications themselves as citizen developers need an eye for user experience, creative design and product design – and at the same time have business acumen.
AI Takes Automation To The Next Level
Thanks to artificial intelligence, which can make better and better decisions, companies are reaching the next level of automation. Solutions for AI-based process automation now make pragmatic decisions that previously required human intervention. If the corresponding tasks are automated, employees no longer have to make transactional decisions but concentrate on higher-value tasks.
The increasing spread of integrated AI is also shortening time-to-value. Once AI is firmly embedded in their platform, companies can shift focus: away from the technology itself and towards solving business problems. Integrated AI – and its ability to get better and faster the more data it processes – significantly accelerates value creation.
The Myth That Automation Replaces People Is A Thing Of The Past
The idea that automation replaces human labour is definitely out of date. Automation is being used more than ever, and at the same time, people are needed everywhere. Technology doesn’t take control; it improves working conditions for people.
By taking on routine activities, opportunities for advancement open up for employees: They do higher-quality tasks and receive better remuneration. However, to make this possible, companies must create the right conditions, and employees must have the necessary qualifications.
When it comes to the attractiveness of an employer, memberships in fitness studios or company kindergartens are no longer a top factor. The more people who practice telework or hybrid work regularly, the lower the demand for such services. In 2024 the key catchphrase will be “employee experience”.
Improving the employee experience is a priority for 94 per cent of companies over the next three years; the focus is on the following question: How can a company’s technology help create a pleasant, collaborative and productive work environment? An employee experience that strengthens the bond with the company is essential given the worsening shortage of skilled workers.
There Is No Hype About A Certain Technology
New technology is proclaimed the “next big thing”. There is no candidate for this because many companies have already implemented many automation technologies and combined them in a central platform. The low-code movement made this possible by making these technologies accessible to business users.
It is expected that the demand for intelligent low-code automation will continue to grow and that it will increasingly be used across the company. It is not enough to automate processes to improve them to be successful. Rather, it is important to transform them into more intelligent techniques and thus become agile and scalable.
Making Unstructured Data Usable Becomes A Competitive Advantage
Every company generates new, unstructured data every day. According to a forecast by the International Data Corporation (IDC), 80 percent of all data worldwide will be unstructured by 2025 – that’s equivalent to a lot of zettabytes. This is where valuable business insights are hidden that need to be made accessible.
A company’s data is unique. If this information is successfully made usable, insights can be gained that no one can copy. Intelligent document processing helps companies control unstructured data and create competitive advantages.
The Cloud Opens Up New Possibilities In Terms Of Productivity
The distributed workforce has developed from an emergency solution to a lived reality. Productivity is still the top priority. Instead of just creating the best possible experience in the office, companies need to establish smooth digital processes. This new paradigm increases the need for digital productivity tools. The way employees print documents is also changing.
More and more companies are shifting their printing needs from individual devices to cloud-based servers to make this possible everywhere. Gartner predicts end-user spending on public cloud services was $396 billion in 2021, increasing by 21.7 percent to $482 billion. Thanks to the cloud functions integrated into intelligent document processing solutions, employees are no longer tied to notebooks or large devices on-site to print documents.
Integrated Supply Chains Require Investments In Technology
Driven by the uncertainty during the pandemic and the ongoing impairment of supply chains, giants like Amazon and Walmart built integrated logistics. To do this effectively, they rely on insights into all company areas. In addition, they must be able to scale resources in real-time and coordinate a heterogeneous workforce – at maximum speed and ongoing adjustments.
These corporations will be introducing technologies that will enable them to implement efficient internal processes in the foreseeable future. This allows them to act more agile and flexible than before.
Customers Expect Transparency In Handling Their Data
Well-engineered laws, especially the GDPR, have made it easier for consumers to retain sovereignty over their data. You only have to pass on the information you want to give on – and you can see at any time which data you have made available to whom.
More powerful processors and memories also allow data to be processed directly on the device instead of being sent to the cloud. Companies like Apple are taking targeted measures to give customers full control over their data. This creates trust, which is extremely important: Consumers are only willing to share certain data with companies if this is the case.
Blockchain Is More Than A Marketplace For Pixelated Monkey Cartoons
The blockchain application currently attracting the most attention is cryptocurrencies such as Bitcoin. In 2021, the boom in so-called non-fungible tokens (NFTs) made headlines when investors spent horrific sums of money on pixelated GIF files by unknown artists.
Blockchain technology has even more to offer, however. There are good use cases that will become mainstream in the years to come – for example, the secure exchange of medical information, the protection of intellectual property, and the security of original content.
Virtual Reality Is Finding Its Way Into Everyday Business Life
Mixed reality technologies are becoming more manageable and affordable. They are therefore increasingly suitable for improving collaboration in a hybrid environment. At the pandemic’s beginning, many companies gained their first experience with virtual Reality (VR). Only very few have warmed up with VR events.
Employees meet as avatars for virtual collaboration, while in reality, they are hundreds of kilometers apart. The latest augmented and mixed reality technologies (AR, MR) unfold their potential, particularly in training and further education.
Also Read: Trends That Could Change Bitcoin
