HyperAutomation (HA) is rapidly moving from just being an interesting proposition for highly innovative projects and applications to becoming a critical business need for organizations across any industry.
Today, and in the coming months, the threat of possible recession scenarios, demands businesses make greater efforts to improve their cost efficiency, agility, productivity, and innovation-based resilience.
According to a recent forecast by Gartner, by 2025 the HA software market is expected to reach a market value of nearly $860 billion worldwide, with a Compound Annual Growth Rate (CAGR) of 12.3%.
In this scenario, the impact of Intelligent Document Processing (IDP) platforms that are capable of integrating hybrid AI approaches based on computer vision, Neuro-linguistic Programming (NLP), knowledge representation, rule-based methods, and other AI technologies, will be massive.
These platforms will accelerate digital transformation across most verticals, with highest adoption rates in industries like financial services (banking, insurance, investing etc.), telecommunications, media, utilities, manufacturing, and services.
Use case applications will provide:
- Improved personal and organizational efficiency,
- Improved user interactions and satisfaction of both customers and employees,
- More efficient and agile work methods,
- Improved Robotic Process Automation (RPA) application potential for processes requiring human cognitive capabilities,
- Enhancements and performance improvements for pre-existing software solutions and systems within the organization, like RPA, ECM, ERP, CRM.
Companies are increasingly experimenting and implementing solutions based on Intelligent Document Processing (IDP) and Intelligent Process Automation (IPA) approaches and tools.
In parallel, we are witnessing a growing interest in Hybrid and Composite AI solutions that enable close interactions between machine and human intelligence, by combining semantic and ML approaches with no-code/low-code and conversational user interfaces (CUIs).
This paradigm shift is enabling organizations to gradually change their approach for the automation of operational and decision-making tasks, involving business users more closely in the process.
At this rate, in the next 3 to 5 years we expect some of the most advanced IDP capabilities to become a standard market requirement.
- The capability to ingest and process documents and contents from several different unstructured sources and in various formats.
- Semantic document and data indexing capabilities.
- Interfacing and interoperating capabilities with other applications in the customer’s software ecosystem.
- The ability to manage end-to-end business processes automation as a comprehensive suite or in tandem with other RPA solutions
Additionally, in the companies where the RPA revolution is already taking place, we expect progress to move forward only as these solutions will become increasingly integrated with IDP platforms, in order to unlock the untapped potential of automating processes involving the handling of unstructured data present in documents, texts and other unstructured sources.
These are exactly the kind of capabilities Altilia is pushing forward with the Altilia Intelligent Automation™ platform, setting the bar for end-to-end IDP platforms technological advancements.
Over the next 3 to 5 years, Altilia will continue to address the increasingly complex HyperAutomation needs of organizations, acting as a strategic partner to facilitate customers’ strategic investments in HA/IPA/IDP initiatives, from the simplest tactical implementations to the more disruptive and valuable innovations.
For more information on how HyperAutomation can transform your business, contact Altilia here .