Enterprises lacking near-term IA adoption strategy failing to meet financial targets.
According to KPMG International's new “Easing the pressure points: the state of intelligent automation” global survey, enterprises are not scaling intelligent automation (IA) technologies [artificial intelligence (AI), advanced analytics, and robotic process automation (RPA)] fast enough to meet desired objectives and returns. However, those organizations that are scaling IA technologies are seeing strong financial performance.
"Investment in and adoption of IA technologies are occurring at a rapid pace, but many organizations are struggling to demonstrate significant impact,” said Cliff Justice, KPMG in the US Principal and Head of Intelligent Automation. “Without a holistic digital transformation strategy that underpins IA investments across an entire organization, these projects are stunted in pilot mode and fail to deliver the intended results. Yet, when implemented with a clear vision and integrated approach, IA is propelling businesses, not only with a competitive business edge but financial success.”
Key findings of The state of intelligent automation survey include:
“To realize the full potential of IA beyond cost savings, organizations must think beyond technological investments and incorporate change management at every step of the way,” Justice continues. “Even the most basic of robotic process automation technologies will impact the future of work. Broad-ranging transformation strategies are critical to future-proofing companies' most valuable resource: their workforce.”
Thomas Erwin, Head of KPMG Global Lighthouse and a partner with KPMG in Germany, concluded: “To ensure an effective, comprehensive IA strategy that integrates complex technologies such as AI, three key components are essential: clear business objectives, an adequate budget and an orchestrated approach. These are fundamental to successfully scaling up IA across the enterprise.”
KPMG collaborated with HFS Research to explore how fast IA technologies are being adopted and what successes and challenges have surfaced. Nearly 600 business leaders including 100 top-level executives across six industries and 13 countries were surveyed about their experience with handling intelligent automation issues.
KPMG is a global network of professional services firms providing Audit, Tax and Advisory services. We operate in 153 countries and territories and have 207,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
KPMG LLP is the independent U.S. member firm of KPMG International Cooperative (“KPMG International”). KPMG International's independent member firms have 207,000 professionals in 153 countries and territories. Learn more at home.kpmg/us.