Understanding repercussions from the pandemic on the retail industry, Gartner has recommended several advanced solutions to help these businesses achieve the goal of retail digital transformation and renovation.
Gartner Trends 2021 for Retails
The explosion of Industry 4.0 has shifted the customers’ behavior. Besides, challenges of adapting the “new normal” scenario have accelerated the digital transformation in many companies. This list of 9 technology trends will help retailers to choose their solution to merge in the Internet era.
- Internet of Behavior
- Total experience
- Privacy-Enhancing Computation
- Distributed Cloud
- Anywhere Operation
- Cybersecurity Mesh
- Intelligent Composable Business
- AI Engineering
Heading to fully digitalisation, protecting private data and keeping customers secure are always the priority of every organisation. Therefore, guarding data, easily accessing resources while working remotely are a must. Recognising the need of the retail industry, Gartner has recommended these solutions as great tech models for business’ application in Covid-19 situation.
What is Hyperautomation?
As defined by Gartner, hyperautomation “deals with the application of advanced technologies, including artificial intelligence (AI) and machine learning (ML), to increasingly automate processes. Hyperautomation extends across a range of tools that can be automated, but also refers to the sophistication of the automation (i.e., discover, analyse, design, automate, measure, monitor, reassess.)”
Hyperautomation normally contains Robotic Process Automation (RPA), business process management (BPM), artificial intelligence (AI) and advanced analytics. As we all know, AI is no longer a strange concept, however, merging this technology with RPA into the operational process will allow investors to benefit from all the potential features. With RPA as a main core, further implementation of additional technologies automates the whole available automation process.
In short, hyperautomation refers to the extension of RPA with other advanced technologies to unlock maximum potential for an automated enterprise.
Benefits of Hyperautomation in a Retailer
The pace of global integration and digital transformation strategy forces companies to become agile in every process to succeed. That is the reason why leaders in the retail industry have to innovate to balance the financial expectations in every market situation. The future of the retail industry relies on the efficiency of hyperautomation in processes.
Since this solution is the combination of several advanced technologies, flexibility and optimized performance are achieved. Inherited from the advantages of automation softwares, Hyperatomation can also process faster than workers and the number of errors are limited. In this case, employees no longer carry the time-consuming tasks, thus, they can focus on providing better customer services. Furthermore, they can concentrate on creating their value inside the company.
Overall, adopting the new improved technologies will cut down unnecessary costs together with maximising their potential capability. Although not many organisations have put these solutions into practice, these trends will perform great transformative potential to the retail sector.