Staying competitive requires companies to continually seek new ways to optimize their operations, reduce costs, and enhance productivity. Now, process automation is a key strategy for achieving these goals, with over half of businesses investing in new automation technology in 2023.

With the rapid advancement of technology, the process automation landscape is constantly evolving. In this post, we explore some emerging trends and advancements in process automation that are shaping the way businesses operate in the 21st century.

1. Artificial Intelligence and Machine Learning

Artificial intelligence (AI) and machine learning (ML) are at the top of many minds, headlines, and business ventures this year. However, these tools are not limited to chatbots or virtual assistants. Instead, they are already driving the economy forward to a large extent.

Essentially, AI is a broad concept encompassing systems capable of mimicking human intelligence. This is used to determine which shows you may like on your favorite streaming platform to how you unlock your phone by looking at it. In a business context, AI can streamline, enhance, and hasten your workflow from start to finish.

Conversely, ML is a less understood subfield of AI with a few categories of its own, including supervised, unsupervised, and reinforcement learning. ML uses algo algorithms and statistical data to learn and improve the performance of specific tasks that an AI system performs. This can help your systems improve far more quickly than you could by redesigning it, allowing for potentially continuous growth and scalability.

2. Hyper-Automation

Hyperautomation is a concept that combines various technologies such as AI, ML, and process mining to automate and optimize processes to their fullest extent. It seeks to automate not just individual tasks but entire end-to-end processes. By using a combination of technologies, hyper-automation can improve efficiency, reduce errors, and enhance decision-making capabilities.

For instance, a hyper-automation system can automatically analyze data from different sources, identify patterns, make predictions, and take actions accordingly, all without human intervention. This trend is particularly important as organizations look for ways to streamline operations and maximize productivity.

3. Low-Code and No-Code Automation

Traditionally, developing automation solutions required a deep understanding of coding and programming languages. However, low-code and no-code platforms are changing the game. Essentially, these platforms enable individuals with limited coding experience to create and deploy automated workflows and applications with a graphical designer. You can even train employees to customize this with a short training period.

Low-code platforms offer pre-built components and visual interfaces, simplifying the development process. No-code platforms take this a step further by allowing users to create automation solutions without writing a single line of code. This democratization of automation is making it more accessible to a broader range of professionals and speeding up the implementation of automation solutions within organizations.

4. Intelligent Chatbots

We can’t make this list without mentioning chatbots. Chatbots, and virtual assistants to a lesser extent, are becoming increasingly sophisticated with the integration of AI and natural language processing (NLP). They are not limited to handling simple queries but can engage in more complex conversations, provide personalized recommendations, and automate tasks such as appointment scheduling and order processing.

Intelligent chatbots are transforming customer service, improving user experiences, and reducing response times. They are also finding applications in various industries, including healthcare, finance, and e-commerce, by enhancing interactions between businesses and their customers.

5. Edge Computing for Automation

Edge computing involves processing data closer to its source, rather than relying solely on centralized cloud servers. This approach is gaining traction in process automation as it offers several advantages. By processing data locally, organizations can reduce latency, enhance real-time decision-making, and ensure greater data security and privacy compliance.

Edge computing is particularly valuable in industries that require rapid response times, such as manufacturing and autonomous vehicles. It allows automation systems to function efficiently even in environments with limited or intermittent connectivity to the cloud.

6. Blockchain and Smart Contracts

Blockchain technology, known primarily for its application in cryptocurrencies, is also making its mark in process automation. Blockchain offers transparency, security, and immutability of data, which are crucial in various industries, including supply chain management, healthcare, and finance.

Smart contracts, self-executing agreements coded on the blockchain, enable automation of contract execution and compliance. For instance, in supply chain management, smart contracts can automatically trigger payments or shipments when predefined conditions are met, reducing the need for intermediaries and minimizing the risk of disputes.

7. Sustainability and Green Automation

Bear with us. As sustainability becomes a central concern for organizations worldwide, automation is also evolving to support environmentally-friendly practices. Green automation focuses on optimizing processes to minimize energy consumption, reduce waste, and lower the carbon footprint.

For example, automated systems can monitor and adjust energy usage in buildings, factories, and data centers in real time, ensuring efficient resource utilization. Additionally, automation can help optimize supply chains, leading to reduced transportation emissions and less waste.

What’s Next For Process Automation?

So, which of these trends are here to stay? Only time will tell.

However, one thing is clear; process automation is here to stay, and businesses that reject it will fall behind. If you’re looking for a time-tested automation system that can meet the needs of your organization, check out our pricing to learn more!