New Report by Futurum Research Shows Adoption of RPA and Intelligent Automation Going Nowhere but Up
CHICAGO, Nov. 5, 2019 /PRNewswire/ -- There is a significant upswing in the adoption of automation solutions across businesses of all size — including Robotic Process Automation (RPA) and AI-powered Intelligent Automation technologies, according to a newly published report by Futurum Research, sponsored by Automation Anywhere, a global leader in Robotic Process Automation (RPA).
The State of Automation 2019: RPA, AI, and Intelligent Automation surveyed more than 1,000 business leaders in North America, across multiple industry verticals, and found that while not all sectors are yet ready to embrace digital transformation and the next iteration of business, many are well on their way. Automation solutions are no longer a novelty, they are mainstream, with over half of all businesses in North America having already implemented some kind of automation solution like RPA or AI-powered Intelligent Automation.
Key findings include:
- The Media and Publishing industry leads the way in the adoption of intelligent automation, with 87 percent of the industry committed to replacing manual processes with automated ones.
- Nearly nine in 10 Manufacturing organizations have already implemented RPA and/or AI solutions into their business models, but there are surprising segments of the industry moving slowly.
- Almost 75% of Professional Services Firms and mid-sized Retailers have already implemented some form of automation solutions.
- 75% reported they intend to invest in RPA or some form of Intelligent Automation within the next five years, with nearly half planning to do so within the next 12 months.
- RPA/IA deployments are shifting from an internal focus to a focus on customer-facing business functions like Customer Service, Sales, and User Experience.
- Best-in-class organizations utilizing RPA and/or AI-powered Intelligent Automation solutions overwhelmingly agree that automation augments humans rather than replaces them.
Barriers to Adoption
Survey respondents share that barriers to adoption aren't limited to any one reason. The key barriers reported are:
Lack of Interest — The most commonly reported barrier was a lack of interest in automation. For industries who are traditionally tech-averse or slow to identify opportunities presented by digital transformation, this was not surprising. The Public Sector is one area where fewer than three in 10 public sector organizations (excluding utilities) report adopting automation into business operations.
Working on Automation — 25% of organizations surveyed reported they are in the process of working on automation initiatives.
Technology Partner Troubles — The third most common reason organizations report a failure to adopt and implement automation like RPA or Intelligent Automation is that they haven't been able to find or connect with the right technology partners
Budget Constraints / Communication Issues — Last, but never least, respondents told us that budget constraints and inadequate planning remain a challenge. This points to a potential disconnect between business leaders who might be interested in and benefit from automation and IT teams communicating the value automation could provide to organizations.
The findings in Futurum Research's The State of Automation 2019: RPA, AI, and Intelligent Automation show that there remains great opportunity for both business leaders and vendors in the RPA and Intelligent Automation space. Businesses are seeing the value automation solutions can deliver and are taking steps to overcome the barriers that challenge them, and automation providers can more effectively speak to their pain points and deliver both solutions and partnership opportunities that can alleviate those pain points.
Says Futurum's Daniel Newman, "It's important to note that automation is exponentially more than simply bots doing mundane, repeatable tasks. While RPA is the use of preconfigured software instances (bots) that businesses use for doing (think repeatable tasks), automation is so much more. Artificial Intelligence (AI) is the thinking part of the automation equation and combines cognitive automation, machine learning, reasoning, problem-solving, and natural language processing. AI-powered automation can produce insights and analytics at or above what humans are capable of. Intelligent Automation is the combination of AI to the business of process automation, which is what makes it so powerful as a business solution. Whether you're just getting started with RPA or heading toward AI-powered Intelligent Automation on your automation journey, this is truly the next frontier in business operations — and one that is quickly proving to deliver significant value."
To read the report in its entirety, download here: The State of Automation 2019: RPA, AI, and Intelligent Automation.
About Futurum Research
Futurum is an independent research, analysis, and advisory firm focused on digital innovation and market-disrupting technologies and trends. Every day our analysts, researchers, and advisors help business leaders from around the world anticipate tectonic shifts in their industries and leverage disruptive innovation to either gain or maintain a competitive advantage in their markets.
About Automation Anywhere
Automation Anywhere empowers people whose ideas, thoughts, and focus make the companies they work for great. They deliver one of the world's most sophisticated Digital Workforce Platform making work more human by automating business processes and liberating people.
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SOURCE Futurum Research
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