By JOLT Experts on Feb 2, 2020 7:04:03 PM
Hyperautomation has been named as the #1 trend on Gartner’s list of Top 10 Strategic Technology Trends for 2020. Which makes it a key strategy for IT and business leaders working in their organizations' digital transformation initiatives. In this blog, we will dissect the concept of hyperautomation and how it has driven the renaissance of the RPA technology.
What is Hyperautomation
Hyperautomation is a widely discussed initiative that can deliver a continuous automation journey with superior business outcomes by leveraging a combination of technologies that complement the core Robotic Process Automation (RPA) adoption.
As organizations mature their automation capabilities and move away from automating simple, well-defined tasks to more complex, exception heavy processes. The need for multidisciplinary governance, audit, security, and process optimization surges, driving the importance of integrating complementary technologies to the RPA tool-belt such as process mining, analytics, ingestion engines (OCR, Computer Vision, etc), and machine learning to create a comprehensive approach to amplify the efficiency and effectiveness of work automation.
Key Components for Hyperautomation
Artificial intelligence capabilities: Machine learning (ML), natural language processing (NLP), intelligent optical character recognition (OCR), and AI computer vision, so robots can read, see, and process more work .
Advanced process mining tools: platforms that can look deeply into how your teams work to show you what you can and should automate.
Workforce engagement: Capability to engage grassroots and executives, including both functional and technical workers across the organization to recognize the value of automation and contribute to hyperautomation.
Advanced analytics: Track, measure and prove the business outcomes delivered by automation to enable continuous growth.
The Holistic Automation Framework - Source: “Gartner Top 10 Strategic Technology Trends for 2020”
The RPA Rennaissance
The RPA industry has enjoyed a skyrocketing expansion in the past few years, experiencing a market growth of 60%+ in 2018, and becoming the fastest growing enterprise software segment in 2019.
The expanding market demands and rapid adoption levels continue to power heavy R&D investments and generate market disruptions that will result in more adjacent software categories and consolidation of offerings for the top RPA vendors, leading to the renaissance of RPA, an established software category that serves far beyond it's original task-based automation purpose.
Over the next few years, we will see the majority of pure-play RPA vendors exit, merge, or be acquired. With the leading vendors rapidly embedding new solutions into its portfolio and offering a more centralized, all-in-one automation suites to enable hyperautomation and realize digital transformation.
Gartner predicts that by 2024, organizations will lower operational costs by 30% by combining hyperautomation technologies with redesigned operational processes. This means that organizations that stays behind the adoption curve will be significantly in disadvantage of their industry peers.
Check out our hyperautomation hub to find relevant resources on this subject, including our guide to a successful hyperautomation journey (an eBook) and our video where we explain more about hyperautomation. We will also be hosting a series of live webinars with automation masterminds around topics related to RPA & hyperautomation, sign up or find more information here.
Having a specialized partner with a broad experience in the automation technologies and business applications can help enterprises drive organizational adoption, avoid potential missteps, maximize RPA use cases and stay ahead of their competitors on the hyperautomation journey.