Originally posted by Forbes
Founder & CEO at Ephesoft. Passionate tech innovator, speaker and obsessed with hyperautomation and providing IDP solutions to customers.
Two years ago, the onset of Covid-19 brought not only a global health crisis but also business chaos. Economic challenges, supply chain issues, the shift to remote work, evolving company culture and access to data were only a few of the many problems enterprises faced.
As I spoke to customers and partners, a common theme was adapting to the “unknown.” This could take the form of revenue, budgets, overcoming customer dissatisfaction, the need for actionable data, traveling and much more. Many of the businesses that approached us were seeking a way to mitigate the uncertainty by automating processes — specifically around documents and data — so they could be more agile and efficient and provide a better overall experience to their customers.
Future-Proofing With Intelligent Automation
These factors and the need to solve the unknown led the journey toward hyperautomation, the approach to automate everything that can be automated. Future-proofing your organization with streamlined automated processes could make the unknown a little bit easier and kinder if a global crisis were to strike again.
Analysts like Gartner propose that robotic process automation (RPA), low-code application platforms, integration platform as a service (iPaaS), artificial intelligence (AI), intelligent document processing and other streamlining hyperautomation technologies are necessary foundational components for addressing critical business demands. In fact, the global hyperautomation software market is predicted to reach $600 billion this year, and every company, no matter the size, needs to get on board.
The clincher is that data is mandatory to support any hyperautomation strategy. Technology platforms must be fed data to work properly and deliver the best decisions. You can’t skip that step. Intelligent data automation is available today, unburdening workers with manual data entry. However, this only scratches the surface when it comes to understanding the unknown.
The Future: Connections And Context
With the rise of data and hyperautomation technologies, we will have to relinquish some of our old ways and make room for automation to relieve us of more mundane tasks. Many of us are plagued with being creatures of routine and gravitating toward what we know. However, some of us are on a quest for innovating this unknown, no matter what future circumstances bring.
Embracing technologies like computer vision, AI, machine learning and building connections with every bit of searchable data can take us to the next evolution of solving what we don’t know. As we head further into 2022, I believe technology will advance in ways that will use data to process the unknown better as it learns to build context and connections from that available data.
Past iterations of AI and machine learning that are static and purpose-built will be replaced by universal, adaptive AI. This means combining meaning and context together by using knowledge graphs to help us make sense of the unknown. We can adapt faster and gain insights into many business areas to reduce risks and propel growth.
For example, I have watched dozens of barges wait and clutter up the ocean for the past several months, waiting to dock in Long Beach, California. Pundits say these supply chain delays are the result of a lack of workers, Covid-19 or health-related setbacks and a lack of efficient, automated operations.