The post-pandemic economic scenario has been challenging for companies, pushing them to find ways to improve their financial results without incurring losses related to product and service quality, customer experiences, and other areas. Companies have used digital technologies for decades to improve productivity and reduce costs. In this context, organizations should explore efficiency gain potentials by digitalizing their operational models through hyperautomation.
Since 2020, hyperautomation has been featured as a trend by Gartner and is considered by many experts, given the complexity of the current scenario, as the future that will become present in short to medium term. According to Gartner, the global hyperautomation market will reach $600 billion USD by 2023, growing more than 25% since 2020. From 2017 to 2022, more than $5 billion USD was invested in technology startups, including natural language and artificial intelligence.
There are many applications, from striving for excellence in operational and governance models to the hyper-personalization of customer experiences. This results from using state-of-the-art technologies such as Artificial Intelligence (AI), Robotic Process Automation (RPA), Machine Learning, and other emerging technologies, which can exponentially improve complex business processes that were previously difficult or impossible to automate.
Hyperautomation is closely aligned with key strategic business needs and ensures significant improvements in quality, productivity, efficiency, scalability, customer experience, governance/compliance, cost reduction/efficiency, and agility.
Despite the potential benefits, there are many challenges related to the complex implementation process faced by companies, such as lack of digital infrastructure, shortage of skilled labor, resistance to change, data security, integration with legacy systems, regulatory compliance for some industries, and cost management.
Several studies indicate that Latin American companies still have low digital operations. Whether lack of knowledge or poor planning, when they decide to implement them, their projects eventually result in higher expenses.
Hyperautomation is increasingly becoming a reality for organizations, and it has the potential to transform business processes enabling companies to become more efficient, productive, and competitive. Those that effectively address all the challenges of adoption will achieve a significant advantage in their respective markets.