Lack of IT Readiness is a major challenge for 53.3% respondents when scaling intelligent automation.

WASHINGTON, WASHINGTON, UNITED STATES, September 8, 2022 /EINPresswire.com/ -- GoodFirms, a widely acknowledged international research, ratings, and reviews platform, has recently released a new research report titled, “Intelligent Automation Market: Trends, Size, Share, and Forecast.” The research article analyzes the market outlook, current dominating trends, market size and share, and future opportunities in the global intelligent automation industry. The research also focuses on the major drawbacks or challenges faced by the industry, such as implementation, costs, time, job displacement, etc. Apart from this, the research also enlists the major market players in the global intelligent automation industry.

The research article highlights how the intelligent automation industry is rolling out and going through a complete transformation. Innovations in the latest technologies, such as AI, ML, IoT, Deep learning, etc., have allowed businesses to automate processes in various sectors.

While there has been a mixed statement, most surveyees have responded in favor of implementing intelligent automation. The study highlights the most significant advantages of implementing intelligent automation- reducing labor costs, Increase in operational efficiency, data accuracy, reduced errors, etc.
GoodFirms also identified and discussed major market players in the global automation field, such as IBM, Cognizant, and Siemens. This new survey on the intelligent automation market has also been identified and discussed in detail.

The survey further uncovers the current trends dominating the sector. According to GoodFirms’ research, the top technological trend in the automation industry is the deployment of Virtual Assistants, followed by AI, ML, speech and image recognition, business process automation, robotic process automation, process mining, natural language processing, and others.

“50.2% of respondents stated that virtual agents are their preferred automation technology,” mentions GoodFirms’ Research.

The survey also revealed that nearly 50% of the customer service and 43.3% of the HR processes are the most automated business functions. While mixed reviews have been received on the implementation, most respondents were happy and satisfied. According to happy surveyees, automating business processes have increased efficiency and reduced human errors by performing mundane tasks.

The pandemic has also posed challenges to the industry rendering many respondents skeptical about the implementation. About 30% of the surveyees are worried about implementing automation due to job displacements.

GoodFirms concludes that intelligent automation has become one of the most accepted strategies for staying ahead of the market competition. Many organizations have shifted to intelligent automation systems for performing various tasks efficiently. Integration and developments in the latest technologies, such as Artificial intelligence, machine learning, deep learning, etc., will further assist organizations in implementing the right automation strategies.

KEY FINDINGS:

-69.23% of mid-sized organizations participating in the GoodFirms' survey have already automated their business processes.
-Businesses in the Latin American region are automating their business processes rapidly.
-Siemens, IBM, and Cognizant are major global intelligent automation market players.
-With 46.7% of responses, artificial intelligence is the second most preferred automation technology.
-43.3% of surveyees have automated their HR functions, and 33.3% have automated their marketing functions.
-66.7% of respondents agree that automation leads to cost benefits
-43.3% of surveyees think that automation will handle basic activities, due to which staff skills will become more analytical, interpersonal, and strategic.
-58.4% believe that a company’s productivity is related to its level of intelligent automation.
-26.7% of surveyees prefer business process automation, while 22.1% prefer robotic process automation
-Resistance to change is another major concern for 43.3% of respondents in expanding automation across businesses.
-Post Pandemic opportunities can strengthen the market share of the intelligent automation market globally.

About Research:

GoodFirms Survey-"Intelligent Automation Market: Trends, Size, Share, and Forecast” was conducted between 5th August 2022 and 19th August 2022. The survey queried selected business participants worldwide who have shared their automation status, benefits, challenges, most automated processes, etc.

To read and download more research articles by GoodFirms, click here.

If you wish to participate in GoodFirms' future research studies, register your name and company details with GoodFirms.

About GoodFirms:

GoodFirms is a Washington, D.C -based research firm that aligns its efforts in identifying the most prominent and efficient companies that deliver results to their clients. GoodFirms research is a confluence of new age consumer reference processes and conventional industry-wide reviews & rankings that help service seekers leap further and multiply their industry-wide value and credibility.

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