Disruptive automation isn’t created randomly or in disconnected ways, it’s part of a vision for an ecosystem of automation technologies working in concert and sharing resources.
A company operating with hyperautomation at its core can create a force-multiplier effect that rapidly produces insurmountable competitive edge.
After just four years in business, Ant Financial Group [insert the link to the ‘Here’s What Successful Hyper-Automation Can Look Like’ piece] was worth roughly half as much as the world’s most valuable financial services company, despite having one-tenth of the staff.
This is the power of hyperautomation.
It’d be remiss not also to point out that the COVID-19 pandemic accelerated the use of and need for this type of automation. According to McKinsey, “The pressure for organizations to adopt AI was already mounting before [COVID-19] as the technology delivered returns to early adopters. [The crisis] has only elevated the technology’s prominence, with many companies using AI to quickly triage the vast challenges they face and set a new course for their employees, customers, and investors in an uncertain, rapidly evolving landscape.”
While it creates a wealth of opportunity, hyperautomation also poses a genuine threat to businesses. Companies that are unfamiliar with the scope of this process or are implementing fragmented approaches to automation (instead of a coordinated strategy) fall perilously short of what’s required to put automation into action.
A myopic approach is often a result of blindly focusing on immediate competitors, making companies vulnerable to nimble, forward-thinking startups and giant disruptors like Ant who swoop down and swallow up market share.