Earlier, AI was perceived to be a part of fiction. But not anymore. Today, it has become a name in every household and, in many cases, a part of it as well. Since the debut of AI and automation, they have been dedicatedly working to transform businesses of all industries.

AI, in broader terms, is software that functions to perform human-like activities. Machine Learning and deep learning capabilities are integral to it, assisting businesses in tapping into their untouched potential.

When capabilities amalgamate with Business Process Automation, they develop an invincible concussion of success! Business automation has always been around. However, with the arrival of AI, there are endless possibilities.

What do Statistics Say About AI and Automation?

While most businesses are eager to adopt AI and automation, some are still in the exploration phase. Also, this technology will indeed benefit their business. Below are some of the stats on AI and Automation:

Popular Statistics on Artificial Intelligence in Businesses

According to some studies by Forbes Advisory, some businesses are optimizing AI in the following manner:

• 56% use AI to enhance and excel in their operations.
• 51% of companies optimize AI to tackle cybersecurity threats and fraud detection.
• 47% harness AI-driven tools as personal assistants.
• 46% use AI for managing customer relations.
• 40% of businesses are turning to AI for inventory management

Popular Statistics on Business Process Automation

Most businesses are moving to Business Process Automation as it delivers countless advantages. Given below are the stats projecting how businesses are bracing automation:

• The business process automation market reached 8 billion US dollars by 2020 and is expected to reach 19.6 billion US dollars in 2026.
• 80% of businesses are speeding up process automation, and 50% foresee automating all the repetitive tasks.
• It is assumed that 69% of all managerial tasks will be fully automated by the end of 2024.
• According to a report by McKinsey, the involvement of AI and automation will continue to rise.
• About 50% of businesses are confident about automating 30% of their workload.
• 73% of IT leaders believe that automation can save them 50% of their time, while 51% also add that it can cut their costs by 10% to 50%.

Scope of AI Automation for Businesses

AI and automation have become integral to every industry while providing impeccable results. Given below are the areas of scope for this technology:

Security: AI capabilities are an indispensable ally in avoiding and preventing network security threats. AI can easily acknowledge cyber threats by analyzing data input patterns. After    navigating the danger, it can backtrack the data and find its sources to avoid it in the future. Automation scans your device and looks for security loopholes and potential vulnerabilities.

CRM: AI is also transforming CRM systems by incorporating self-updating and auto-correcting capabilities that work in the background and maintain the flow of operations. Process automation capabilities empower customers to get their tasks done independently while shedding extra load from CRM executives. Some high-end CRMs, such as Botgo, also provide a human hand-off feature to the customer; they can reach out to the executive if they feel stuck.

Online Data Research: AI Business Solutions are significantly influencing online data research. They can sieve through vast data sources to identify search behavior patterns and other details and bring out refined information as needed. As people use mobile phones increasingly, with AI dominance, they can expect a more customized experience.

Digital Personal Assistance: It can help businesses by operating as a personal assistant. It can help managers manage their emails, maintain calendars, and recommend strategies to streamline processes. In addition, AI can also help your business grow by managing customer inquiries. With the help of automation, redundant tasks can also be done accurately while offloading your human assets. They can instead focus on other KPIs and boost your business’s productivity.

The Future of AI Automation

The future of AI is endless. Given below are some of the possibilities based on its current capabilities:

• Robots are expected to become more “commonsensical” and could be optimized for everyday use.
• Earlier, driverless cars were only seen in movies, but today, they’re a reality. Likewise, the future holds scope for more upgrades in our current technology.
• AI can transform traditional 2D displays for gaming, interacting with a web page, or simply reading a book into more advanced versions now that the Internet of Things (IoT) is gaining more popularity.

AI and automation are revolutionizing industries by improving efficiency, security, and customer experience. As these technologies evolve, businesses that adopt them now will future-proof their operations, gaining a competitive edge in an increasingly digital world.