Where Will Hyperautomation Be in 2023?

Hyperautomation is not found in Gartner’s Top 10 Strategic Technology Trends for 2023, making business leaders to wonder if it should still be in their technology strategies. Is Hyperautomation still relevant in the year to come?

Gartner’s Top 10 Strategic Technology Trends For 2023

This October, Gartner has predicted the top 10 strategic technology trends for 2023, which include:

  • Digital Immune System: improves system resilience and stability to lower risk and enhance customer satisfaction.
  • Applied Observability: allows businesses to use data artifacts to make critical decisions faster and more precisely, hence creating and increasing market competitive advantage.
  • AI TRiSM (AI Trust, Risk, and Security Management): combines tools and processes for managing trust, risk, and security with an AI model that makes the AI model intelligible while boosting overall privacy and security.
  • Industry cloud platforms: integrate SaaS, PaaS, and IaaS with flexible, tailored functionality to fulfill the requirements of certain industries; hence businesses can develop distinctive and differentiated business activities, therefore creating and driving agility, growth, and innovation.
  • Platform engineering: create and maintain a self-service platform of tools and processes to deliver and manage the software lifecycle in order to optimize developer experience, productivity, and accelerate speed to create value for customers.
  • Wireless-Value Realization: A wireless network can become a direct source of corporate value because combining several wireless technologies result in a cost-effective, reliable, and scalable engineering platform.
  • Superapps: a basis for providing an ecosystem of mini apps that end users may activate to create a consistent and personalized app experience. 
  • Adaptive AI: incorporates a variety of AI methods and techniques that allow systems to self-regulate their behaviors in order to be more adaptive to changing environmental conditions in the real world.
  • The metaverse: a hybrid innovation that combines various technological trends into a collective virtual environment to serve as the platform for organizations to boost employee engagement and collaboration.
  • Sustainable technology: a framework of solutions for increasing the energy and physical efficiency of IT services, creating sustainability for both businesses and their customers, and promoting environmental, social, and corporate governance outcomes (ESG).

Top 10 technology trends Gartner predicts to 2023. (Source: emtemp.gcom.cloud)

Is Hyperautomation still relevant in 2023?

Hyperautomation, in fact, will be much more developed in the next many years to come and remain consistent with 4 key business themes. According to a market research report by Sheer analytics and insights, the Hyperautomation industry is expected to reach US$46.4 billion by 2031, growing at a CAGR of 21.7% between 2021 and 2031. 

Hyperautomation is expected to grow at a rate of 21.7% and reach $46.4 billion by 2031. (Source: sheeranalyticsandinsights.com)

Gartner analyzes the impact of the top 10 strategic trends for 2023 on four key business themes:

  • Optimizing reliability, resilience, and performance.
  • Scaling solutions and distributing products everywhere;
  • Pioneering in recreating customer and staff engagement and improving customer experience;
  • Seeking sustainable technological solutions.

Hyperautomation can help businesses achieve the following goals:

  • Optimize: Gartner highlighted better reliability, data-driven decision-making enhancement, and AI value maintenance in this goal.
    • Operational optimization: Hyperautomation allows businesses to automate the majority of their operations to achieve the highest efficiency and accuracy since it leverages an automation flow incorporating a wide range of intelligent technology. 
    • Error reduction, accuracy, and decision-making improvement: AI/ML, an important part of Hyperautomation, improves data-driven decision-making. It leads to improving automation accuracy over time. Specifically, AI/ML helps to eliminate mistakes and enhance output quality by training bots to “learn” from data, identify patterns, and make predictions.
      Moreover, AI/ML increases automation speed due to the ability to access a large amount of data, faster data reading and processing, and continuous operations. According to Forrester, data-driven decision-making will become a hot trend in automation in 2023, with Hyperautomation playing a significant role. Process Mining, in addition to AI, adds considerably to optimization goals since it helps reorganize business processes, discover bottlenecks, and identify the most appropriate and valuable automation options based on the “as-is” processes.
    • Resource Optimization: Adopting hyperautomation allows businesses to save resources and focus on more vital duties. According to Gartner, hyperautomation will help organizations lower operational expenses by 30% by 2024. Reckitt Benckiser, a well-known pharmaceutical company, has automated more than 20% of their processes, saving over 10,000 hours per month. Another example is London Heathrow Airport, which has saved around £1,980 in outsourcing expenses, 120,000 sheets of paper, and more than 1,170 hours of human data input. 
  • Scale: Gartner mentioned the connection to the objective of scaling the business, providing value and growth to the business. Meanwhile, hyperautomation is the combination of technologies such as RPA, AI, ML, OCR, Process Mining,… into an automation flow to optimize business processes automation and hence scale business.
    • Hyperautomation allows humans and bots to cooperate in harmony, with bots handling repetitive, manual tasks while humans focus on more strategic, important jobs. When confidence is low, bots will automatically navigate to humans to ensure accuracy and fast automation flow. Furthermore, bots can automatically trigger each other to complete tasks.
      The following example demonstrates the harmonious integration of components in data processing automation: IDP receives and analyzes input data that RPA bots collect and automatically upload, then returns the extracted data to RPA bots for delivery to the required places.  Although this process continues with high accuracy and minimal disruption, humans can still intervene flexibly to examine and modify information as necessary. 
    • Hyperautomation supports the “automation first” mindset, it does more than just automate existing processes to improve their effectiveness. Hyperautomation also enables and accelerates business growth by broadening the scope and scale of business operations.

Read more: How Businesses Are Winning With IDP and RPA Integration

  • Pioneer: Gartner concentrates on reinventing engagement with businesses’ staff and customers.

The whole operating system is optimized for accelerated responses due to hyperautomation. Hence, the interaction between business staff and customers shifts from taking care of a few unique touchpoints to taking care throughout the entire customer journey.

Ms. Nguyen Minh Nguyen Thanh, SEA Regional Sales Director (Sales Director, SEA), akaBot presented an example of Hyperautomation in issuing credit cards at banks, with a combination of 30% people and 70% machines, at the Smart Banking 2022 Summit.

The credit card issuing process is a collaborative and harmonious combination of people and technology that reduces the execution time from 7-10 days to 3 days while maintaining 99.9% accuracy and 100% security with no trace of manual paperwork. 

This whole process works without direct interaction, yet with impressive results that help improve the consumer experience. In comparison to the traditional process, customer satisfaction and staff serviceability are clearly different. Moving toward hyperautomation assists businesses in optimizing their customer relationships.

  • Sustainability: Investing in Hyperautomation allows businesses to invest in sustainable technology systems.
    • Hyperautomation helps businesses optimize business operations, for example technologies integrated in hyperautomation aid in reducing resource consumption; AI/ML can detect minor changes in data, identify problems in real-time, and adapt to enable businesses to reduce resource waste or predict the environmental effect on business operations.
    • Businesses can improve fair labor practices when adopting hyperautomation. The World Economic Forum estimates that technology will produce at least 12 million jobs by 2025, and according to Alan Krueger, automation can help workers improve wages; specifically, workers who are able to work with technology ask for a 10-15% increase in wage.
    • Beside, utilizing technologies such as AI/ML, RPA, industry cloud platforms,… allows to increase traceability, reduce environmental impact (lower resource consumption, reduce emissions,…); and provide tools to track sustainability targets for businesses. According to Lawrence Berkeley National Laboratory, if all U.S. workers use cloud computing, energy consumption will be reduced by 87%, or, as estimated by IDC, cloud computing will help reduce emissions by more than 1 billion tons of carbon dioxide (CO2) from 2021 to 2024.

Conclusion:

According to Forrester, 2023 will be an exciting year for automation. Because it’s difficult to suddenly change business strategies and technological systems, businesses need to carefully do research and determine the steps to adopt hyperautomation. Learn more about the hyperautomation roadmap for businesses, or contact us now for consultations. 

Sources:

Gartner Top 10 Strategic Technology Trends for 2023

Predictions 2023: Economic Uncertainty Slows Some Automation Trends

Are You Thinking Too Small About Sustainable Technology?

APAC Predictions 2023: Technology

Automation Doesn’t Just Create or Destroy Jobs — It Transforms Them

How data and automation can help with sustainability

Hyperautomation in action: The most exciting examples

akaBot (FPT Software) is the operation optimization solution for enterprises based on RPA (Robotic Process Automation) platform combined with Process Mining, OCR, Intelligent Document Processing, Machine Learning, Conversational AI, etc. Serving clients in 20+ countries, across 08 domains such as Banking & Finances, Retails, IT Services, Manufacturing, Logistics…, akaBot is featured by Gartner Peer Insights, G2, and ranked as Top 6 Global RPA Platform by Software Reviews. akaBot also won the prestigious Stevie Award, The Asian Banker Award 2021, etc.

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