U.S. Firms Look to AI for More Powerful Automation

Rhea-AI Summary

ISG (Nasdaq: III) report reveals U.S. enterprises embracing innovative automation platforms to improve processes and user experience, with a focus on AI and ML features, especially generative AI (Gen AI). Intelligent automation platforms are improving in areas like conversational AI, document processing, and process discovery and mining.

Insights

AI Engineer

The integration of conversational AI, document processing and process mining within enterprises signifies a substantial evolution in automation capabilities. These technological advancements are poised to enhance operational efficiency and decision-making processes. The deployment of generative AI (Gen AI) and machine learning (ML) algorithms is particularly transformative, enabling the handling of complex data sets and offering real-time, tailored solutions.

From an engineering perspective, the rise of low-code/no-code solutions democratizes access to AI, allowing non-technical users to contribute to automation strategies. This shift may lead to increased innovation and agility within organizations. However, it also raises the need for robust governance frameworks to ensure the accuracy and ethical use of AI-generated outputs.

Industry Analyst

As enterprises continue to adopt intelligent automation platforms, we observe a trend towards centralizing data and leveraging it for strategic advantage. The ability to integrate data from disparate sources and analyze it in real-time is crucial for maintaining competitive edge. This is particularly true for sectors with heavy reliance on data interpretation, such as insurance and healthcare, where intelligent document processing can streamline operations and improve customer experiences.

Moreover, the emphasis on real-time process monitoring and adaptation reflects a shift towards more agile, data-driven business models. Companies that effectively implement these technologies can expect to see not only cost savings but also revenue growth from enhanced capabilities. Nonetheless, the transition requires careful vendor selection and strategy alignment to maximize benefits and mitigate risks associated with data privacy and regulatory compliance.

Data Privacy Expert

The integration of advanced automation platforms raises significant data privacy concerns. The report's mention of cloud-based document management and compliance tools indicates a response to the increasing regulatory demands for data protection. As organizations navigate the complexities of securely managing large volumes of sensitive information, they must prioritize data privacy and compliance within their automation strategies.

Adopting intelligent document processing and Gen AI necessitates a thorough understanding of data governance and regulatory frameworks. Enterprises must ensure that their automation efforts are not only efficient but also adhere to the highest standards of data security and ethical AI use to maintain stakeholder trust and avoid potential legal ramifications.

Improved automation platforms expand enterprises’ abilities in conversational AI, document processing and process mining, ISG Provider Lens™ report says

STAMFORD, Conn.--(BUSINESS WIRE)-- Enterprises in the U.S. are embracing innovative automation platforms to improve processes and user experience, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.

The 2023 ISG Provider Lens™ Intelligent Automation Platforms and Products report for the U.S. finds that companies are increasingly interested in platforms that use AI and ML features, especially generative AI (Gen AI), to make better use of diverse and fast-growing data sets. They are sharply focused on finding the most reliable AI model for accurate results and a deeper understanding of data and processes. While consolidating data from multiple silos can lead to new insights, enterprises need company-wide strategies and qualified vendors to do it right, ISG says.

“Automation tools are advancing faster than ever,” said Chip Wagner, CEO, ISG Automation. “U.S. enterprises have relatively mature automation strategies and are well-positioned to take advantage of new capabilities.”

Intelligent automation platforms are improving in several key areas, including integration of data from multiple sources, real-time responsiveness and availability to a wider range of users, the report says. These advancements strengthen capabilities across the major categories of automation at U.S. companies, including conversational AI, document processing and process discovery and mining.

Conversational AI platforms can now integrate multiple modes of communication, including voice, text, and images, paving the way for tools such as chatbots that can respond to medical images, ISG says. With Gen AI, versatile automated agents are beginning to provide more natural and personalized interactions. Low-code/no-code features are giving more users the power to use these tools.

Intelligent document processing (IDP) plays a growing role in extracting data from legacy records and an increasingly broad range of sources, the report says. IDP platforms are gaining improved features for automatically interpreting and summarizing unstructured data, such as insurance claims and medical records. Integrated IDP solutions are also incorporating secure, cloud-based document management and compliance tools for meeting heightened data privacy regulations.

Process discovery and mining is becoming a core business function as enterprises adopt platforms that use advanced ML algorithms to monitor processes not just retrospectively but in real time, ISG says. Modern platforms can analyze large datasets, identify hidden patterns and use Gen AI to automatically suggest variations of current processes, helping companies respond to changing market conditions.

“Process discovery is no longer a static capability,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Platforms now adapt to changing needs, so companies can be more proactive about managing their operations.”

The report also explores other intelligent automation trends, including the demand for platforms that can learn from previous errors and the growing importance of compatibility with ERP and CRM systems.

For more insights into the automation challenges faced by enterprises and advice for overcoming them, including investing in robust data governance, see the ISG Provider Lens™ Focal Points briefing here.

The 2023 ISG Provider Lens™ Intelligent Automation Platforms and Products report for the U.S. evaluates the capabilities of 66 providers across three quadrants: Conversational AI Platforms, Intelligent Document Processing and Process Discovery and Mining.

The report names ABBYY, Automation Anywhere and UiPath as Leaders in two quadrants each. It names [24]7.ai, Amelia, AntWorks, Avaamo, AWS, Celonis, Cognigy, Google Dialogflow, HCLTech Exacto, IBM, Infrrd, Kofax, Kore.ai, Microsoft, Microsoft (Minit), Parascript, SAP Signavio, Software AG, SS&C Blue Prism and WorkFusion as Leaders in one quadrant each.

In addition, Automation Hero and Creative Virtual are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant each.

A customized version of the report is available from DocVu.ai.

The 2023 ISG Provider Lens™ Intelligent Automation Platforms and Products report for the U.S. 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 900 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 1,600 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/20231219911871/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 ISG Provider Lens™ report reveal about U.S. enterprises and automation platforms?

The report reveals that U.S. enterprises are embracing innovative automation platforms to improve processes and user experience, emphasizing AI and ML features, especially generative AI (Gen AI).

What key areas are the intelligent automation platforms improving in according to the report?

The platforms are improving in areas such as conversational AI, document processing, and process discovery and mining.

What role does conversational AI play in the automation platforms?

Conversational AI platforms can now integrate multiple modes of communication, including voice, text, and images, paving the way for tools such as chatbots that can respond to medical images.

How are intelligent document processing (IDP) platforms evolving?

IDP platforms are gaining improved features for automatically interpreting and summarizing unstructured data, such as insurance claims and medical records.

What is the significance of process discovery and mining in the automation platforms?

Process discovery and mining is becoming a core business function as enterprises adopt platforms that use advanced ML algorithms to monitor processes not just retrospectively but in real time.