Intelligent automation primed for $47 billion revenue by 2030
November 2024
IT in Manufacturing
Intelligent automation goes beyond traditional automation systems by integrating artificial intelligence (AI) to manage more complex business processes. It drives innovation and creativity, making it essential for organisations looking to stay competitive in today’s market. According to GlobalData, a leading data and analytics company, the intelligent automation market is set to grow from $18 billion in 2023 to $47 billion in 2030, driven by advancements in AI, particularly the rapid adoption of generative AI (GenAI).
GlobalData’s latest report ‘Thematic Intelligence: Intelligent Automation’ reveals that AI is now integrated across most facets of intelligent automation. This new era of automation goes beyond simple task execution, allowing systems to analyse data, make decisions, and learn from interactions. This boosts efficiency and fosters innovation, potentially leading to a future where software bots not only perform tasks, but also drive strategic growth and creativity.
Nicklas Nilsson, strategic intelligence consultant at GlobalData comments: “Intelligent automation is transforming how businesses operate, not just enhancing efficiency, but fundamentally reshaping processes through AI-driven innovation. As automation evolves into a strategic asset for organisations, it unlocks new areas of creativity and growth. Companies that embrace this transformation will be better positioned to navigate the demands of an ever-changing business landscape.”
GenAI has emerged as a key driver in intelligent automation, expanding the scope of automatable tasks, and empowering non-technical employees to create their own solutions. In the past year, every major player in the field added GenAI capabilities through integrations with well-known solutions like ChatGPT and the development of bespoke copilot tools, allowing businesses to speed up innovation and broaden access to automation.
Nilsson continues: “GenAI’s ability to generate new, contextually relevant content from simple prompts has opened many possibilities. By democratising access and empowering employees without technical expertise to craft solutions, it accelerates innovation and boosts productivity across organisations. However, it is essential that companies establish strong governance frameworks to ensure these tools are used securely and effectively.
Despite its benefits, GenAI faces challenges related to governance, security and compliance. As automation becomes more advanced, companies will need to implement stricter controls to protect sensitive data and ensure their systems comply with industry regulations.
Nilsson concludes: “The future of intelligent automation will depend on a delicate balance between innovation and governance. As AI continues to evolve, businesses must ensure that their automation strategies are secure, complian, and equipped to handle the complexity of modern business operations.”
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