In 2023, we will see the culmination of automation trends that have been developing for several years. While some of these automation trends may seem familiar, they will bring new levels of innovation and progress.
One of the most significant areas of advancement in recent years has been in the field of AI and NLP. The launch of ChatGPT3 is a game-changer that has been likened to the dropping of an atomic bomb on Hiroshima. This powerful tool represents a major leap forward in the capabilities of AI. Chat GPT has the potential to transform industries and change the way we live and work.
AI is not the only automation trend that will change the business landscape in 2023. If you want to learn more about how to implement automation in your business, get in touch here: https://syscor.ai/request-demo
Let’s explore seven of the most significant automation trends that we can expect to see in 2023.
Greater adoption of Robotic Process Automation (RPA)
RPA has been gaining momentum in recent years as businesses seek to automate repetitive tasks and improve efficiency. Finance departments have been early adopters of RPA, using it to automate tasks such as invoice processing and payment reconciliation. For example, an RPA solution can be implemented to automatically extract data from invoices, match it to the correct purchase order, and generate payment records. This can reduce errors, speed up processing times, and free up employees to focus on higher-value tasks. Marketing departments can also benefit from RPA by automating tasks such as social media posting and email marketing campaigns. By automating these processes, marketing teams can save time and improve the accuracy and consistency of their messaging.
Intelligent Process Automation (IPA)
IPA is the next evolution of RPA, combining automation with artificial intelligence and machine learning to enable more complex and cognitive tasks. Human resource departments can benefit from IPA by automating tasks such as resume screening and candidate selection. For example, an IPA solution can be trained to identify keywords and phrases in resumes that match specific job requirements and then rank candidates based on their suitability for the role. This can save HR teams a significant amount of time and effort in the recruitment process. IPA can also be applied to marketing and sales processes, such as lead scoring and customer segmentation, to improve the accuracy and relevance of targeted marketing campaigns.
Increased use of Artificial Intelligence and Machine Learning(AI)
Artificial intelligence and machine learning (ML) have been among the most significant technological advancements in recent years, and their impact is only set to grow in 2023. From chatbots and virtual assistants to autonomous vehicles and predictive analytics, AI and ML are being integrated into an ever-expanding range of applications across industries.
In the finance industry, AI and ML are being used to automate processes such as fraud detection and risk assessment, improving accuracy and efficiency while reducing costs. In marketing, AI-powered analytics can help businesses identify and target their ideal audience, while chatbots and virtual assistants can provide personalised support and recommendations to customers. And in human resources, AI can assist with recruitment and talent management, helping organisations find and retain top talent more effectively.
Low-code and no-code development is a way for businesses to create applications without requiring traditional coding knowledge. This is achieved through visual interfaces and drag-and-drop tools that allow anyone to create software applications with ease. This trend has been gaining traction in recent years, with the rise of platforms like Monday.com.
Monday.com is a low-code/no-code platform that provides businesses with a simple and intuitive way to create custom software applications. With Monday.com, businesses can create custom workflows, databases, and dashboards to meet their unique needs, all without writing a single line of code. This allows businesses to quickly and easily create solutions that streamline their operations and improve their bottom line.
The benefits of low-code and no-code development are clear. It allows businesses to create custom software applications quickly and easily, without the need for extensive coding knowledge. This means that businesses can focus on solving their unique problems, rather than spending time and money developing software from scratch. With platforms like Monday.com, businesses can create powerful solutions that meet their specific needs, all without breaking the bank.
The growing importance of data management and governance
Effective data management and governance are becoming critical for businesses in all industries, regardless of their size. The increasing use of cloud-based solutions and the growth of big data have resulted in an explosion of data, making it difficult to manage, analyse, and use it effectively. This has made data governance a key concern for businesses. By implementing a comprehensive data management and governance system, businesses can streamline their data management processes and ensure that data is clean, accurate, and consistent across all systems.
In finance departments, data management and governance systems can help improve financial reporting accuracy and reliability. These solutions can be used to identify and eliminate errors, reduce the risk of discrepancies, and ensure compliance with accounting standards and regulations. By centralising financial data and automating data collection and validation processes, finance departments can reduce the time and resources required to produce financial reports.
For marketing departments, data management and governance can help ensure that customer data is accurate and up-to-date. This can help businesses deliver more personalised and relevant marketing campaigns, resulting in higher engagement and conversions. By integrating predictive data analytics tools into their data management systems, businesses can gain valuable insights into customer behaviour and preferences, allowing them to optimise their marketing strategies and improve customer experiences.
In human resources, data management and governance can be used to ensure that employee data is accurate and up-to-date. This can help improve payroll accuracy and compliance with labour laws. Additionally, by analysing employee data, businesses can gain insights into workforce trends, identify areas for improvement, and optimise employee training and development programs. Ultimately, effective data management and governance can help businesses reduce costs, increase efficiency, and gain a competitive edge in the marketplace.
Expansion of cloud-based automation solutions
Cloud-based automation solutions are becoming more prevalent as businesses seek to reduce the cost and complexity of on-premises solutions. Marketing departments can benefit from cloud-based automation by using tools such as marketing automation platforms to manage and automate marketing campaigns. For example, a cloud-based marketing automation platform can be used to manage email marketing campaigns, social media posting, and lead scoring. This can reduce the time and effort required to manage these processes, and improve the overall effectiveness of marketing campaigns.
Here are 5 advantages of automating in the cloud:
- Scalability: Cloud-based automation solutions can be easily scaled up or down depending on business needs, making it easier to handle sudden surges in demand without worrying about infrastructure limitations.
- Flexibility: With cloud-based automation, businesses can access their automation solutions from anywhere with an internet connection, allowing for more flexibility in work arrangements.
- Cost-effectiveness: Cloud-based automation solutions can be more cost-effective than traditional on-premise solutions, as they require less infrastructure and maintenance costs.
- Security: Cloud-based automation providers often have more robust security measures in place than many businesses can provide on their own, helping to protect against cyber threats and data breaches.
- Collaborative capabilities: Cloud-based automation solutions can enable more efficient collaboration across teams and departments, as information can be easily shared and accessed by authorized users.
Rise of Hyper-Automation
Hyper-automation is a step further than traditional automation, using advanced technologies like AI, machine learning, and robotic process automation to create fully automated systems. These systems can handle complex tasks and decision-making processes that were previously only possible through human intervention.
One use case for hyper-automation is in supply chain management. With the rise of e-commerce and global supply chains, companies are struggling to keep up with the increasing demand for faster and more efficient delivery. Hyper-automation can help by automating the entire supply chain process, from procurement to delivery, reducing errors, and increasing speed and efficiency.
Another use case for hyper-automation is in the healthcare industry. With the pandemic highlighting the need for faster and more efficient healthcare processes, hyper-automation can help by automating routine tasks such as patient check-ins and medical record updates, freeing up healthcare professionals to focus on more critical tasks.
Syscor Automation Advisory can help you implement automation trends that can transform your business operations, increase efficiency, and reduce costs. With our expertise and partners in:
Syscor can rapidly design custom solutions that fit your unique business needs and help you stay ahead of the competition. Get in touch with us to book your consultation with an automation expert https://syscor.ai/request-demo/