AI Automates Tasks from Monotony to Delight
Using BPM for repetitive tasks is a great way to reduce or eliminate human error in automated processes. The automation of business procedures reduces expenses. Did you know? This stunning pattern shows dynamic corporate management.
The use of business process management (BPM) is a great advantage in the automation of processes since it can identify and eliminate any human error that may occur during the automated operations. Organizations employ BPM technologies to identify processes that require optimization for automation and to contribute valid measures.
Business Process Automation (BPA), on the other hand, tries to automate all these processes and ensure that they take place in a relaxed manner whereby every action reinforces another to effectively improve decision-making. Robotic and digital automation are by far the two leading types of automation that are gaining popularity at a rapid rate.
Utilizing the Capabilities of Advanced Automation
Let us look at the following intriguing statistics, which highlight how various areas have implemented process automation. Let’s enter this fascinating domain of statistics concerning the automation of business processes, workflow automatization, and just general types of business automation.
What is more interesting about this revelation is that a significant number of businesses have automated the critical process. This shows how some companies have adopted creative ways to achieve efficiency.
Some more Intriguing Statistics
13% of businesses have made significant investments in intelligent automation technologies, according to the survey. This is a significant 37%, which is still in testing, whereas others go on and have already implemented their use at a rate of 23%.
Well over 40% of the participants had experienced significant automation in many areas.
Thus, you will be surprised to know that nearly all business professionals (94%) would like to have one automation platform for use with their apps and processes.
Dealing, even worse, seems to be a real pain! By 2024, the workflow automation and related technologies market is projected to reach an incredible USD 5 billion, with an estimated annual growth rate of around 20%.
From the available technologies used to automate workflows, RPA is in charge, with 31% of respondents considering it a technology that citizens will choose first, followed by AI having an average opinion value from its users, which was seconded by 18%.
It is interesting to note that the majority of current users are keen on increasing their investment in AI for at least three years. Interest in AI robotics will only continue to rise.
An incredible 57% of those who took the study are implementing process automation to some extent within their current operations. However, 38% of respondents reported that their companies had not yet initiated the process of automating.
Almost half of the people who participated in this poll intend to automate any of their functions within the next 12 months. – Last year, more than 90% of RPA was worth the revenue of the on-premises market.
Did you know that? Wow, that’s amazing!
Some Ingrained Research & Reports
According to Grandview Research, the RPA market, at a valuation of USD 1.4 billion in 2019, is presumed to reach a CAGR (compound annual growth rate) of nearly 40.6% over the period, i.e., between 2020 and 27.
Did we know that it is more likely for large organizations to adopt automation as compared to small ones? The disparity between the percentage of larger and smaller businesses that use automation is intriguing: 40% for big companies and 25% for smaller ones.
In 2019 alone, the robotic process automation industry was worth a whopping one point four billion USD. So, you’d like to know something. Its forecasted CAGR from 2020–2027 is a staggering 40%! Wow, that’s a significant increase! Large companies have primarily implemented RPA as well.
DPA had a valuation of $7.8 billion in 2019, but Morder Research projects that the value will increase to around $16 billion between now and 2025.
Strangely enough, work process automation and remote labor became much more frequently used by over 80% of firms’ CEOs. This trend is just astounding!
To reduce expenses, business entities are focusing on the automation of processes. Were you aware of this? This interesting trend underlines the dynamic nature of running a corporation.
36% of organizations are employing business process management software to make their operations easier and more automated. It is a novel and effective approach to raising yield while lowering overall costs.
Did you know that close to 50% of C-suite executives are seeking initiatives towards the automation of such repetitive yet essential procedures? Thanks to this smart move, they are now free to pay great attention and think about the more important creative parts of their job.
Gartner estimates that by 2024, automation will affect around 69% of all managerial jobs.
Isn’t that staggering? This stunning statistic clearly illustrates the scale of change that has occurred in the workforce arena. Many businesses are planning to adopt business process management software, as indicated by Deloitte.
More than 40% of companies adopt process automation to enhance manual work administration. This is an interesting takeoff for businesses as they look for new ways to enhance productivity and realize more output.
Well, did you know that 67% of businesses use BPA to achieve transparency in their systems? That’s a great way to stay updated and have some fun! Operations prove to give the greatest ROI as far as process automation is concerned; almost half (48% of IT executives believe this, according to a Salesforce poll).
Do you know the unbelievable statistic that 29% of businesses are preparing to automate using low code? However, the corporate field has also registered a growing trend with this style of communication, which is creative and interactive in nature.
A significant number of businesses, approximately 24%, implemented low-code process automation.
Collaboration and cooperation for all players involved are fundamental, especially in automated company operations.
Do you know that nearly 50% of all business teams are critical to driving the development of automation? It is astounding the level of effort that has been put into such groups to ensure there has been better flow and efficiency.
