Nordic Companies Warm to Automation as Platforms Evolve

Rhea-AI Summary

Information Services Group (III) reports on the surge in AI-powered automation in the Nordics driven by high labor costs and a shift towards digital transformation. The 2022 ISG Provider Lens™ report finds that financial services and retail sectors lead adoption, while public sector organizations lag behind. Enhanced technologies like conversational AI and intelligent document processing are crucial for efficient automation. Notably, UiPath is identified as a leader in two quadrants of automation platforms, illustrating competitive advancements in the region.

Positive

• Increased adoption of AI-powered automation platforms among enterprises in the Nordics.
• High demand driven by elevated labor costs, prompting companies to seek automation solutions.
• Financial services and retail sectors are leading the charge in adopting automation technologies.
• Emerging technologies like conversational AI and intelligent document processing are now more capable.
• UiPath recognized as a leader in two automation quadrants, showcasing competitive standing.

Negative

• Public sector organizations are slow to adopt automation due to reliance on on-premises solutions.

Labor costs, digital transformations spark enterprises’ interest in increasingly intelligent, AI-powered tools, ISG Provider Lens™ report says

STOCKHOLM--(BUSINESS WIRE)-- Enterprise use of AI-powered automation platforms has soared over the past year in the Nordics, although challenges to enterprise and public sector adoption remain, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.

The 2022 ISG Provider Lens™ Intelligent Automation — Platforms and Products report for the Nordics finds that the recent surge in adoption has been triggered by several converging factors. The high cost of labor in the Nordics has generated demand for automation to replace some tasks, while enterprises are also embracing the new technologies to ensure employee well-being and productivity as they ask team members to return to the office. These trends are accelerating against the backdrop of a general move toward enterprise digital transformation across the Nordics and other developed regions.

“Intelligent automation is meeting emerging needs at companies in the Nordics, especially large enterprises,” said Chip Wagner, CEO, ISG Automation. “The region is embracing these technologies as they mature and begin to deliver on their promise.”

Adoption varies across industries and countries in the region, the report says. Financial services and retail enterprises are leading the way toward automation in the Nordics, while public sector organizations that rely heavily on on-premises solutions are moving more slowly. Multinational firms based in the Nordics are on par with other global enterprises, while Finnish and Norwegian companies are also quickly adopting automation and Swedish enterprises are increasing their investments.

Intelligent automation is based on three core platforms that have grown far more capable in recent years, the report says. Conversational AI is increasingly focused on enabling seamless omnichannel experiences that combine voice, text and other modes of synchronous and asynchronous interaction. Intelligent document processing (IDP), once limited to optical character recognition, now offers the ability to scan documents and extract and analyze information at scale. Process discovery and task mining tools can identify more complex workflows and human tasks within business processes, which helps organizations determine where intelligent automation platforms can be most effective.

These platforms are now being combined for even greater impact, ISG says. For example, by both digitizing and analyzing records with IDP and understanding operations through process discovery, service providers and enterprises can implement more effective robotic process automation (RPA) initiatives.

“Increasingly sophisticated automation platforms can be deployed more effectively than ever to meet real-world business objectives,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Enterprises have many service providers to choose from that can help them integrate these tools into their systems and processes.”

The report also explores other intelligent automation trends affecting the Nordics, including growing demand for automated sentiment analysis and ongoing debates about how much automation development should be performed by team members who are not professional developers.

The 2022 ISG Provider Lens™ Intelligent Automation — Platforms and Products report for the Nordics evaluates the capabilities of 50 providers across three quadrants: Conversational AI Platforms, Intelligent Document Processing, and Process Discovery and Mining.

The report names UiPath as a Leader in two quadrants. It names ABBYY, Amelia, Artificial Solutions, Celonis, Google Dialogflow, Kofax, Microsoft and QPR Software as Leaders in one quadrant each.

In addition, Boost.ai is named as a Rising Star — a company with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant.

The 2022 ISG Provider Lens™ Intelligent Automation — Platforms and Products report for the Nordics is available to subscribers or for one-time purchase on this webpage.

About ISG Provider Lens™ Research

The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221208005112/en/

Press:

Will Thoretz, ISG

+1 203 517 3119

will.thoretz@isg-one.com

Julianna Sheridan, Matter Communications for ISG

+1 978-518-4520

isg@matternow.com

Source: Information Services Group, Inc.

FAQ

What does the 2022 ISG Provider Lens report say about AI adoption in the Nordics?

The report highlights a significant rise in AI-powered automation adoption in the Nordics, driven by high labor costs and the push for digital transformation.

Which sectors are leading in AI automation according to the ISG report?

Financial services and retail sectors are leading the adoption of AI automation platforms in the Nordics.

Who is recognized as a leader in the ISG Provider Lens report for automation platforms?

UiPath is identified as a leader in two quadrants of the ISG Provider Lens 2022 report for automation platforms.

What challenges does the public sector face in AI automation adoption?

The public sector is facing challenges in adopting AI automation due to its heavy reliance on on-premises solutions.

What are the main AI technologies mentioned in the ISG report?

The report mentions conversational AI, intelligent document processing, and process discovery as key technologies in intelligent automation.