The current pandemic situation has taught us that scalability, agility and, most of all, adaptability, are critical to creating a more stable, productive, client oriented and market-ready ecosystem. This is where the differentiation between intelligent automation and plain automation comes in to play.

Beyond the literal and more direct interpretation of the ‘intelligent’ attribute, referring to the underlying technology and technological method, it should also be attributed to the overarching concept of choosing the right tools, strategies and thinking required to ensure a positive outcome. The simple goal of just automating processes to reduce costs can lead to potentially negative outcomes, if not reinforced by a sound strategy that takes all critical aspects into consideration. The methodology behind the initial assessments that govern the automation process is critical, and should reflect not only the economic metrics, but the long-term implications of other critical metrics, such as sustainability, scalability, long-term opportunities, and, last but not least, the human component.

Innovation resulted in exponential growth in the past four decades and landed us in the Information Era in which multiple paradigm shifts are shaping our business landscapes and leading us on an exciting transformation journey. We are currently experiencing a worldwide effort to leverage and implement cloud solutions, virtual and augmented reality, AI and Machine Learning, 5G and IoT, Blockchain and, not least, Intelligent Automation.

Intelligent Automation (IA) is a term that’s been floating around for quite some years in the tech world, with overwhelmingly positive connotations and implications. And while we occasionally see technological trends not go beyond the stage of hype and speculation, IA has taken the business world by storm, with the Hyperautomation market poised to reach $596.6 billion in 2022, up from $532.4 billion in 2021 and $481.6 billion in 2020.

Beyond the prospect of drastically improving business processes across various industries and homogenising IT at all scales, the general concept of IA tends to be misinterpreted as a solution directed solely towards large enterprises with large scale processes. While it has been true in its inception phase that the largest ROI was seen at a larger scale, this no longer holds completely true, and IA has evolved into the go-to solution for optimising and transforming businesses across all sectors and industries for businesses of all shapes and sizes.

Help clients apply the right combination

The fast-growing number of offerings for IA solutions such as Newgen’s NewgenONE Digital Transformation Platform, and other intelligent automation solutions are creating an ecosystem that has the potential to impact the business environment on all levels with the prospect of creating a more balanced and worker-friendly environment. For companies, it means not having to spend significant amounts of money to procure or replace systems, customize their current systems, or completely update their IT landscape for improved functionality and automation features. Instead, organisations are implementing IA to complement their existing systems for significant operational advantages and financial gains. For individuals, it means finally shedding those boring, repetitive, menial tasks that take their attention away from the activities that truly require their skills and unique abilities, or, as EY say, take the robot out of the human and enable individuals to engage in relationships, activities and projects that inspire them and align with their purpose by eliminating the stress associated with mechanical tasks.

And NewgenONE, the unified low code-based platform, is uniquely positioned to serve the growing intelligent automation or hyperautomation needs of enterprises. Newgen offers all the key components of hyperautomation in one, comprehensive platform. NewgenONE continues to enable hundreds of top-tier global enterprises, serving mission-critical, content-centric, and customer-engagement functions. The platform’s flexibility to go the extra mile helps its customers in transforming hundreds of key business processes (mini applications) on multiple device formats and seamlessly integrating business applications with back-end and third-party systems.

The strategic decision to implement an intelligent automation solution needs to be followed by a rigorously planned implementation and governance strategy, or risk having a number of false starts and falling behind. A specialised pre-implementation business process analysis, proper training for all stakeholders, a data governance strategy, pro-active change management and continuous quality assurance are all necessary to achieve the full potential of IA.

EY leverages assets and best practices, extensive experience, and alliances to help our clients apply the right combination of technological capabilities including intelligent automation, robotic process automation, and data analytics to realise their business potential and carry out their digital transformation journey. EY are committed to providing solutions and services centred around business operations to create a better working world.

EY Engage, Malta’s Technology Leaders Forum, will be held at the Westin Dragonara Resort on June 1 at 11.30am. The event explores how IT enables organisations to become resilient and competitive during times of disruption. Speakers include Pascal Bornet, a globally renowned keynote speaker and author of the bestselling book ‘Intelligent Automation’.

EY Engage is taking place in collaboration with Microsoft and the Malta Chamber of Commerce, Enterprise and Industry, along with event sponsors BMIT Technologies, Newgen Software, SG Solutions, GO Business, UiPath, Exigy, ICT Solutions, Atlas Insurance, AIVHY, Onpoint, MITA, MCA, eSkills Foundation, Tech.mt, MDIA and Invent3D.

Networking opportunities, roundtable sessions covering current industry topics, and a panel discussion will also provide a unique setting to collaborate on current industry challenges and trends. For registration, visit ey.com/en_mt/events/engage

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