In 2023, technologies such as Artificial Intelligence (AI) and automation are streamlining business operations, improving decision-making, and transforming how we work and the skills required for success. It is for this reason that IT leaders are now more important than ever in setting overall company strategy.
Over half of IT executives are implementing advanced automation, which involves using AI that incorporates machine learning and making decisions based on past situations they have encountered and analysed. Practical examples of this may be the use of virtual assistant customer service bots or the use of AI to further improve automated processes for expense report and invoice processing in an HR or finance department.
Not only does this help businesses reduce manual tasks, freeing employees to focus on more complex and value-added activities, but it also contributes to employee retention. This is because when workers feel efficient and productive, it gives them a sense of individual achievement and provides them with the assurance that they’re contributing towards the overall success of the business. This shift can therefore enhance efficiency and productivity while allowing companies to remain competitive in the process.
Based on recently released research, here are the top three tips for IT executives to consider when it comes to implementing advanced technology in business strategies:
- Integrate: Two-thirds of IT executives have already implemented basic automation capabilities such as rule-based automation patterns that don’t make use of intelligent features to analyse data and optimize processes and resources. However, the challenge of managing increasing amounts of data and the difficulty digitising manual operations are major obstacles to IT executives’ goals of increasing efficiency.
It is, therefore essential to prioritise the integration of systems to improve data availability and accuracy while ensuring that data flows are clearly defined and accurate and the changes can scale across the company. Assessing where AI and ML can be imbedded into existing processes may involve third-party support or consultancy and the specifics will vary by industry.
- Upskill: Fully unlocking efficiency gains goes beyond simply adopting technology in an appropriate manner. IT executives should therefore ensure that employees have the right skills to adopt the technology and that they have a detailed, adaptable strategy for implementation.
- Adapt: Nearly a third of IT executives acknowledge that employee skills, standardising processes, and rewriting compliance policies would increase efficiency further. However, those who recognise that implementing AI and advanced automation is a journey and that taking the necessary steps to prepare for it will be the most successful in creating efficiencies. Therefore, ensuring implementation strategies are adaptable, comprehensive, and customised for each organisational department is essential.
As the future of work continues to evolve, it’s important that IT executives remain agile and open to change, embracing these new technologies as they develop and leveraging them to drive business efficiency and productivity.
It is clear that IT executives are leading the way when it comes to staying ahead of the curve and implementing technological advancements in business strategies. However, they must implement advanced technologies with sophistication, making sure that compliance and spend-management policies are updated and future-ready. Only then will growth and success follow.