One welcome side effect of the global disruption resulting from the pandemic is that it’s acting as a catalyst for innovation. Previous barriers to adopting cutting edge technologies have been removed, as everyone embraces the new normal. This article by John Bates, CEO of Eggplant, a software testing and monitoring company, discusses how businesses are pivoting to survive in our new, digitally dependent world.
One side effect of the global disruption resulting from the pandemic is that it’s acting as a catalyst for innovation. Previous barriers to adopting cutting edge technologies have been removed as everyone embraces the new normal. Businesses are pivoting to survive in our new, digitally dependent world.
This is shining a spotlight on automation Opens a new window technologies as organizations recognize that inertia to innovate will seal their demise. As industries recalibrate to weather the economic downturn, this is driving an increase in the adoption of technologies, including AI, machine learning and robotic process automation Opens a new window (RPA).
Every industry is now searching for ways to cut costs and improve efficiency. Organizations that hesitate to embrace and accelerate automation in 2020 run the risk of being left behind. As a result, businesses spanning retail to healthcare Opens a new window to manufacturing are turning to intelligent technologies to improve productivity and performance to gain a competitive advantage.
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RPA is one technology being used to automate with Deloitte reportOpens a new window ing that 53% of companies have begun deploying it and that 78% of adopters will invest more in the next three years. In healthcare, RPA Opens a new window is automating many cumbersome and time-consuming administrative tasks, including scheduling appointments and admitting and discharging patients. RPA bots can optimize appointments based on diagnosis, availability of doctors and multiple other criteria almost instantaneously. With healthcare focused on the pandemic response, automating repetitive tasks delivers many benefits. By integrating RPA, productivity improves, and processes are adhered to. In the heavily regulated healthcare ,this is a critical benefit. This, in turn, creates cost savings for healthcare providers and supports improved patient care.
Intelligent technology is now wide-ranging in healthcare, spanning everything from hospital equipment, cloud accessible patient charts and scans, electronic health records, and connected ambulances. With the pressure on costs set to continue for the foreseeable future, healthcare providers are looking at automation as a cure.
In the manufacturing sector, the need for Industry 4.0 enabling technologiesOpens a new window has never been greater. With supply chains turned on their heads, the ability to quickly adapt to changing customer needs has led to the widespread adoption of AIOpens a new window and machine learningOpens a new window to help identify and anticipate pressure points. Knowing where your delivery trucks are and ensuring that perishable items have been handled correctly is critical. Intelligent automation delivers operational efficiencies and the flexibility needed to change production quickly. This increased visibility and flexibility reduces costs providing a competitive advantage. In addition, the requirements for social distancing can be eased through automating some of the tasks that would have required people on site.
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Retail has been at the epicenter of industries impacted by the pandemic. Almost overnight it has experienced a rapid acceleration of the acceptance of digital shopping by consumers. Those retailers able to deliver a connected experience by integrating technologies that eliminate gaps between front end applications, back-office logistics, and supply chain systems can ensure that customers receive accurate information on product availability. Brands that have invested in these technologies have been able to reap the benefits.
In addition, AI is being integrated into chatbots to improve the customer experience as retailers can store and immediately access an individual’s information. As consumers come to expect this personalized service, this will ensure that AI-driven assistants will become standard for retailers looking to compete.
Some retailers, like Target, have been able to quickly adapt and launch new digital services, like contactless curbside pickup, to support the changing demands. This pivot has helped Target’s digital sales soar by a staggering 275% in AprilOpens a new window .
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The massive shift to e-commerce looks set to continue with further innovation expected in 2020. Retailers are starting to integrate a range of innovative applications to compensate for the loss of the physical shopping experience. A proliferation of augmented reality applications helping support sales of furniture and other large items are becoming part of the digital shopping experience. Consumers can now check out what a product looks like in their own home without ever having to leave the sofa. Similarly, cosmetic brands are launching applications that allow customers to try out new colors and combinations to encourage digital sales. With further waves of the pandemic looking increasingly likely, investing in technology that automates and delivers an enhanced experience is a smart decision for retailers.
The pandemic has boosted the acceptance and adoption of a range of innovative technologies as companies look to survive the current volatility. How businesses respond to our changing world will ultimately demonstrate their resiliency. As ever, those that embrace innovation rather than remain stagnant will reap the benefits. Despite the uncertainty, intelligent automation looks set to be the remedy for many business ills.
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