Adopt intelligent automation to stay relevant in the market and avoid falling behind.

The advancements in artificial intelligence, robotics, and automation aided by notable capital investments, are empowering a new age of intelligent automation. This era is expected to become a significant driver of organizational performance in upcoming years. Essentially, companies in all sectors should understand and adopt intelligent automation to stay relevant in the market and avoid falling behind.

From the above report, we can conclude that the global intelligent automation market revenue is likely to surge with a CAGR of 18.1 percent by the year 2023. Exploring the segmentation of the IA market, we clearly see that the growth rate of machine learning and deep learning technology is expected to increase by a CAGR of 20.5 percent while RPA will accelerate with a 19.5 percent growth rate through the projected year.

In order to get ahead of the trend, there are a variety of things organizations can do. On a high level, the leadership of the company must prioritize the business operations by regular assessment of the landscape of the latest emerging technologies. Consequently, they will be able to re-evaluate business processes extract most from these mechanisms.

Strategically, companies need to develop plans to communicate the extent and impact of new technologies. Organizations will need to adapt or possibly re-design their processes, operations, and strategies to encompass and optimize for IA technology. Employees will also require quintessential training to work efficiently and comfortably around such machines.

Regardless of the industry type, technological decision-making is becoming the most important component of a proficient business. As the technological landscape changes fast, there is not only an opportunity but also a need, to get absorbed and ahead of the futuristic trends of intelligent automation. The companies need to opt for appropriate methods to incorporate both automated and human intelligence collaboratively, to achieve goals.

Companies on the verge of IA adoption might turn to a more humane approach to automation which involves upskilling and re-skilling of its workforce. They may develop a curriculum to find complementary skills to the jobs that are becoming obsolete in certain areas. This will not only make them stay ahead of evolution but also equip them with new-age skills and competencies to prevent unemployment and workforce replacements.

After all, the higher the adaptability higher the chance to succeed in this digital world. The AI-powered RPA technology unleashes unprecedented levels of productivity, efficiency, and value. Such operational qualities compel companies to question their existing approaches and develop strategies they have never considered before. If a company isn't adapting and shifting with IA innovation with its allied technologies, it runs the risk of falling behind and becoming irrelevant in a competitive market.