Watch for These Intelligent Automation Trends in 2023-2024

Intelligent automation has already revolutionized the way we conduct business. It has minimized waste, cut down on labor costs, made customized products and services more attainable, and improved workplace safety.  The use of intelligent automation continues to evolve, and it’s presenting new business opportunities. Autonomous systems are becoming more capable, with improvements to their mechanics, software, and sensors. So, what should we expect next? Here are the biggest intelligent automation trends to watch out for.

Watch for These Intelligent Automation Trends

• Collaborative Development

Low code and no-code applications are rocketing automation into new realms. Teams are building their own automation solutions without coding knowledge (or with minimum coding knowledge) to get products and systems out the door faster than ever. This collaborative development approach is proving its value as a cost-effective, scalable, and secure way to progress automation initiatives. Its influence will continue to gain popularity for these reasons.

• Increased RPA Adoption

Robotic Process Automation (RPA) can be programmed to mimic human interactions with software applications, such as logging into systems, navigating through screens, copying and pasting data, and filling out forms. Insurance, banking, finance, and healthcare are propelling this trend the most.

As automation becomes more complex, additional bots are needed to handle the increased transaction volumes. Great complexity means automation solutions like RPA will need to combine with supporting automations like conversational interfaces, low-code components, AI/ML, iPaaS (Integrated platform as a service), and process orchestration to work as seamlessly as businesses expect and automate at scale.

• Big Impacts from Generative AI

ChatGPT. DALL-E. Bard. GPT-3. These are just a few of the generative AI solutions surfacing right now. Generative AI has the potential to significantly impact automation by enabling machines to perform tasks that previously required human-level creativity and decision-making. For example, generative AI can be used to create original pieces of writing, design new products, or generate computer code that is optimized for specific tasks.

This technology can also be used to improve the efficiency and accuracy of existing automation processes, such as enhancing natural language processing capabilities so chatbots and other conversational interfaces can be more effective at automating customer service.

• More SMB Automation

More reasonably priced options are allowing SMBs to finally try on intelligent automation. Expect to see more small and mid-size businesses using intelligent automation to reduce costs, optimize processes, and improve customer service. SMBs want to avoid falling behind, and they’re quickly adding newer technologies to their stacks to stay on top. Capterra found SMBs adopted new technology more frequently in 2022, and that trend is expected to continue.

• Addressing Labor Shortages

Experts suggest that concerns about robots taking jobs may be exaggerated, as automation is primarily being used to fill workforce gaps where there is a shortage of human labor. For example, in 2022 there simply weren’t enough construction laborers (due to the aging out of skilled labor and post-COVID labor shortages) to fill 650,000 vacant roles. By automating repetitive and mundane tasks, businesses can increase efficiency, reduce costs, and free up human workers to focus on higher-level and more strategic work.

• Automating for Better Decision Making

More businesses are relying on intelligent automation to help them craft process discovery frameworks and automate production pipelines. Predictive modeling with intelligent automation is identifying trends, anomalies, and patterns to help businesses make smarter decisions faster.