The hype of hyperautomation is here to stay with unlocking long-term growth

0

When AI technology was invented in the mid-1900s, hyperautomation was largely a black water term. So far, this mechanism is shaking up the status quo and is more widely seen and understood by many companies. Those days of singular operation are over as more businesses turn to their radar for myriad ways to improve productivity.

Unleash Growth

In today’s business environment, companies are constantly looking for new and efficient ways to navigate their services. From AI-based end-user automation to automated process discovery using data mining, automation has taken a new step called hyperautomation involving the orchestrated use of multiple technologies, tools or platforms.

Hyperautomation typically combines AI tools with robotic process automation (RPA), delivering end-to-end processes by harnessing the power of multiple technologies and constantly driving the changes businesses want to see in the future. Needless to say, money has been piling up in this market with no signs of stopping.

Globally, the Hyperautomation Market was valued at USD 4.78 Billion in 2020, growing at a High CAGR of over 21.7% between 2021-2031. By 2031, the market is expected to reach 46.4 billion USD. In the Asia-Pacific region, China has unlocked huge growth and holds the dominant position by cutting out the largest share. During the forecast period, the country’s hyperautomation market is expected to reach USD 1.29 billion at a CAGR of 26.3% by 2031.

As the global hyperautomation ecosystem is critical to deploying RPA technology, learning and practicing RPA helps businesses from all walks of life navigate better intelligent automation talent strategies. Chinese RPA leader Laiye Technology recently closed its Series C funding round at $160 million to accelerate the global deployment of intelligent automation in April this year. Other giants include UniPath, Cyclone, and Blue Prism, all of which are headed for this blue ocean. In China, companies such as Shanghai ENCOO Technology and i-Search Software are also adopting RPA tools to formulate talent development strategies. Last year, Shanghai-based ENCOO arranged a Series B financing worth up to $30 million, led by Sequoia Capital China.

Not to mention hyperbolically, the added expense of digitizing business operations is touted by companies that refuse to continue the repetitive, manual processes of managing their departments. On the other hand, hyperautomation, which leverages process mining, AI, and RPA technologies, enables a greater scale of automated activities covering critical functions ranging from sales and inventory to supply chain management. With the latest technologies, such as Optical Character Recognition (OCR) and Natural Language Processing (NLP), Hyperautomation provides end-to-end solutions to realize fully digital processes.

3.png.png

China-Global Market Goes Viral

One of the forerunners in the deployment of hyperautomation technologies is INOSSEM (英诺森), a leading technology company originally established in China that supports organizations in their digital transformation.

Based in Nanjing, Jiangsu, INOSSEM China was founded by a group of senior executives who worked for well-known international companies including Accenture, IBM and PwC in early 2015. Thinking outside the box, the achievement group to help small and medium-sized enterprises (SMEs) by providing hyperautomation solutions. Despite RPA technologies, the company also provides real-time EPR (Enterprise Resource Planning) suite solution for digital enterprises which helps customers design transformation roadmap and other systems to create an all-in-one solution. -a.

Bing Wu is the Senior Vice President of Global Operations at INOSSEM, following the company’s international expansion focus four years ago when the company opened its first international office in Montreal, Canada. The company quickly grew to 100 employees with six offices in North America. According to the company’s research, the global AI software market is expected to witness massive growth in the coming years. Specifically, its revenue will increase from USD 9.5 billion in 2018 to USD 1118.6 billion by 2025 level.

“In the beginning, half of our customers are, what we call, China-Global customers. These are mainly China-based companies that want to expand globally while not only selling products internationally , but they are also setting up supply chains and manufacturing factories overseas,” Wu explained.

INOSSEM Global is set to impose a much-needed hyperautomation track record and provide SMEs with fully practical digital solutions. The company separated into three critical steps to bring together customer needs, involving consulting services, digital core implementation, and AI-powered innovations to solve any existing problems. From the first step of providing tailored consulting services, the company conducts IT strategic planning to design a business roadmap, followed by step-by-step guidance on how to achieve business goals.

“Small and medium-sized businesses need reliable vendors to provide all-in-one solutions, which means a single system can cover their entire operations, including finance, supply chain operations procurement, sales inventory and manage the whole process in one The same system allows them to integrate with third-party logistics providers or retailers,” Wu said.

To then build a digital core, the company emphasizes the penetrating all-in-one interconnected solution of finance, supply chain, sales and other inventory management. The final step is to use AI-driven tools to solve problems for individual customers in supply chain and logistics services, based on their individual size and market value. For example, INOSSEM Global provides smart warehouse solutions to optimize and digitize entire operations by leveraging PRA solutions and their own software asset called Business Process Automation (BPA).

“We are the leading player in the China-world market,” Wu said, “Few companies provide end-to-end solutions while we take a long-term view and take a results-oriented approach, which makes us allows you to stand in a very unique position.”

Placing the goals in the future development, Wu revealed that the company recently closed the seed financing led by Montreal group AISCA on June 1. A fundraising round. After two rounds, we plan to be listed on the Toronto Stock Exchange and continue to expand globally,” Wu explained. in our existing technologies.

The essential

At first glance, this is a springboard for applying hyperautomation technologies in business operations to improve efficiency. This once-known term has helped many companies overcome bottlenecks in their services and help them perfect any related experience. The end results for many businesses to embrace the combination of RPA, AI, and other process automation technologies has spurred the next evolution of global commerce, with Chinese companies standing out among others.

Share.

Comments are closed.