AI & Automation going forward
The Future of Work
- Organizations utilizing RPA report substantial cost savings, with estimates suggesting that RPA can lower operating costs by 20-30%. Companies often experience a return on investment (ROI) within 12 months of implementation.
- Studies indicate that RPA is more likely to augment human jobs rather than replace them. Approximately 50% of employees believe RPA will create new job opportunities by allowing workers to focus on higher-value tasks.
- A substantial increase in RPA investment is anticipated, with businesses prioritizing RPA implementation as part of their digital transformation strategies. The rise of intelligent automation, which combines RPA with AI and machine learning, is expected to further drive RPA's growth trajectory.
- Organizations implementing IDP report an average reduction of processing costs by 30% to 60%. Additionally, processing time can be reduced by up to 90%, with significant improvements in accuracy—manual data entry errors can be reduced by as much as 90% through IDP systems.
- The integration of AI and machine learning into IDP solutions enhances the ability to extract data from unstructured documents. It is estimated that around 70% of IDP solutions currently leverage AI technologies to improve data extraction and classification capabilities.
- Market analysts predict that the ongoing digital transformation efforts will further accelerate the adoption of IDP. By 2025, it is anticipated that more than 75% of organizations will use some form of intelligent automation, including IDP, to manage their document processes.
- A significant percentage of businesses are increasing their investment in digital tools, including IDP. Research indicates that companies plan to spend up to 30% of their IT budget on automation and intelligent processing solutions over the next few years.
- Surveys reflect that around 60% of employees believe IDP will enhance their productivity by allowing them to focus on more strategic tasks, indicating a positive sentiment towards technology adoption.
- As generative AI technologies evolve, it is projected that by 2025, over 70% of organizations will leverage some form of generative AI to augment operations and drive innovation.
