Navigating the Worldwide Financial Tides: How They Reshape AI Objectives - Insights From the Intelligent Automation Analysis Report

Navigating the Worldwide Financial Tides: How They Reshape AI Objectives - Insights From the Intelligent Automation Analysis Report

Larry Lv8

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Global Economic Impact on AI Priorities STATE OF INTELLIGENT AUTOMATION REPORT | SEPTEMBER 2023

Table of Contents 2 01 Key findings Individual question analysis Overview of global respondents 02 03

Key Findings 3 The average global investment in intelligent automation in 2022 was between $190k-$379k USD 82% of organizations saw a budget increase for intelligent automation projects in 2023, despite an uncertain economic climate Despite an uncertain economy, on average, 48% of respondents said they are more likely to invest and 57% are still expecting 2x the investment cost, yet only 47% have actually achieved 2x ROI 60% of respondents said employee happiness increased, alongside productivity, customer service and work-life balance 51% of respondents identified quality products/projects and faster delivery as some of the key benefits for customers; pricing reduction was least rated Customer experience is the key revenue generating process for 41% of respondents 89% of respondents have long- term plans for AI with 37% having a near-term 3-to-5-year plan Monitoring software, intelligent document processing platforms, and data analysis and insights are the most utilized technologies If IT budget had no constraint, respondents would invest more in sales processes (44%), inventory management (43%) and customer experience (42%)

Individual Question Analysis

How has uncertainty about the economy influenced your plans to invest in automation/innovation? Select one Despite an uncertain economy, on average, 48% of respondents say they are more likely to invest. • The highest percentage is driven by the USA, where 58% of respondents said they are more likely to invest. • France sees the lowest percentage, with 40% of respondents looking to invest in the future. • 59% of those in organizations with 1000-1999 employees and 56% of those in organizations with 4000-4999 say they plan on investing, indicating the higher stability of larger organizations. • When examining industries, Manufacturing is leading, with 65% interested in investing. Government/Public Sector and Education are the industries with the lowest interest registered. 29% 48% Global responses % Less likely to invest % More likely to invest 38% 24% 31% 22% 40% 51% 43% 58% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% France Germany UK USA Country split % Less likely to invest % More likely to invest

Total France Germany UK USA Less than €90,000 18% 22% 14% 17% 18% €90,000 to €149,999 19% 22% 25% 21% 10% €150,000 to €299,999 22% 17% 20% 20% 30% €300,000 to €649,999 17% 14% 16% 16% 24% €650,000 to €2,600,000 13% 13% 12% 16% 12% €2,600,000 or more 6% 8% 6% 6% 3% Not sure 5% 4% 8% 4% 3% How much has your business invested in intelligent Unsurprisingly, there is a direct correlation of size between organization size and investment value. The larger the organization, the higher the investment. • The average global investment over the last year was between $190k-$379k, with a higher weight in the US, whereas European markets seem to be more conservative and investing under $190k. • While the majority of industries are still in the ‘less than $114k’ bracket, Insurance/Accounting and Manufacturing see higher percentage of investment – on average 33% investing $190k-$379k and

How has your organization’s budget for intelligent automation projects changed over the last 12 months? Select one The budget for intelligent automation has increased for 82% of respondents. • The average highest increase bracket was between 6%- 16%, according to 33% of respondents. • An increase has been reported across all organization sizes. Interestingly, the small organizations with less than 250 employees are seeing some bigger increases, with 17% of them seeing an increase between 16%-35% - indicating growing recognition from small organizations that AI can help them level the field with larger enterprises. • Wholesale and Real Estate are two of the leading industries, with an average of 90% of respondents within these industries saying their organization’s budget has increased. • Budget for Wholesale organizations saw an increase of 16%-35%, ahead of all other organizations. 82% 7% Global responses % Increased % Decreased 81% 86% 76% 84% 11% 6% 8% 4% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% France Germany UK USA Country split % Increased % Decreased

Total France Germany UK USA At least 1x cost of investment 24% 30% 26% 24% 16% At least 2x cost of investment 57% 50% 54% 57% 66% At least 3x cost of investment 11% 12% 8% 14% 10% We had no expectations 8% 8% 12% 6% 7% What was the anticipated ROI from investments in Intelligent Automation projects? Similarly to responses we recorded in 2022 on this topic, the majority of respondents and their organizations across all countries have had an expectation of 2x the cost of investment. • On average, 57% respondents anticipated seeing at least twice the cost of investment ROI. • Only 8% had no expectations and 11% expected to see 3x the investment cost. • This was an overall common expectation across all markets and organization sizes. • When analyzing industries, the majority of respondents expected an average of 2x cost investment, but Telecoms had the highest expectations of 3x investment cost – 29%, ahead of all other industries. • Levels of expectations were similar to last year, when 62% of respondents said they were expecting at least 2x cost of investment.

Total France Germany UK USA At least 1x cost of investment 31% 33% 28% 32% 31% At least 2x cost of investment 47% 41% 51% 44% 53% At least 3x cost of investment 12% 16% 12% 13% 8% Lower than expected 9% 9% 8% 12% 8% What ROI has it delivered? When analyzing what the ROI actually was, it rose to expectations, with 47% of respondents saying they saw at least 2x the cost of investment. This was slightly higher in the US and Germany. • It is interesting to note that bigger organizations saw a higher number of responses for 2x cost of investment, whereas smaller organizations (less than 1000 people) saw slightly lower averages. • From an industry perspective, Telecom had the highest expectations of 3x cost of investment, but the highest percent of respondents said they saw 2x cost of investment. • Wholesale as an industry saw the highest number of respondents who said they had at least 2x the cost of investment (62%). • Similar to the expectations, the outcome of last year was comparable - 43% saw at least 2x the cost of

Monitoring software (software that monitors processes and how you complete tasks) Intelligent document processing platforms (automatic digitization of documents) Data analysis and insights (e.g. Tableau, Power BI, Qlikview) Artificial Intelligence Mobile productivity apps (e.g. mobile app scanners or PDF converters) None of the above To tal France UK USA 58% 49% 56% 60% 66% 53% 42% 56% 57% 58% 53% 45% 50% 56% 60% 52% 42% 51% 57% 58% 50% 40% 46% 58% 56% 2% 4% 2% 0% 1% Germany Does your company use any of the following Monitoring software, intelligent document processing platforms, and data analysis and insights are the most utilized technologies, however AI and mobile productivity apps are also recognized by respondents. • Unsurprisingly, the larger the organization, the more technologies are being used. Technologies are utilized the most in organizations with 4000-4999 employees (an average of 66% vs an average of 44% in an organization with 250-299 employees). • Manufacturing, Software/Technology and Hospitality are the biggest adopters of the listed technologies, whereas Agriculture • Compared to 2021, there has been an increase in companies using all technologies except for mobile productivity apps (decrease by 1%). Monitoring software (15%) and AI (12%) saw the largest increase in adoption. • In 2023, we are seeing more focus on monitoring software and intelligent document processing platforms, whilst AI is still a key focus area for respondents in their organizations - compared to 2019, where AI and automation systems were the top solutions implemented by respondents.

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12345678910111213141516171819202122232425262728/ 28100%实际尺寸适合宽度适合高度适合页面自动介绍杂志连续的

Global Economic Impact on AI Priorities STATE OF INTELLIGENT AUTOMATION REPORT | SEPTEMBER 2023

Table of Contents 2 01 Key findings Individual question analysis Overview of global respondents 02 03

Key Findings 3 The average global investment in intelligent automation in 2022 was between $190k-$379k USD 82% of organizations saw a budget increase for intelligent automation projects in 2023, despite an uncertain economic climate Despite an uncertain economy, on average, 48% of respondents said they are more likely to invest and 57% are still expecting 2x the investment cost, yet only 47% have actually achieved 2x ROI 60% of respondents said employee happiness increased, alongside productivity, customer service and work-life balance 51% of respondents identified quality products/projects and faster delivery as some of the key benefits for customers; pricing reduction was least rated Customer experience is the key revenue generating process for 41% of respondents 89% of respondents have long- term plans for AI with 37% having a near-term 3-to-5-year plan Monitoring software, intelligent document processing platforms, and data analysis and insights are the most utilized technologies If IT budget had no constraint, respondents would invest more in sales processes (44%), inventory management (43%) and customer experience (42%)

Individual Question Analysis

How has uncertainty about the economy influenced your plans to invest in automation/innovation? Select one Despite an uncertain economy, on average, 48% of respondents say they are more likely to invest. • The highest percentage is driven by the USA, where 58% of respondents said they are more likely to invest. • France sees the lowest percentage, with 40% of respondents looking to invest in the future. • 59% of those in organizations with 1000-1999 employees and 56% of those in organizations with 4000-4999 say they plan on investing, indicating the higher stability of larger organizations. • When examining industries, Manufacturing is leading, with 65% interested in investing. Government/Public Sector and Education are the industries with the lowest interest registered. 29% 48% Global responses % Less likely to invest % More likely to invest 38% 24% 31% 22% 40% 51% 43% 58% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% France Germany UK USA Country split % Less likely to invest % More likely to invest

Total France Germany UK USA Less than €90,000 18% 22% 14% 17% 18% €90,000 to €149,999 19% 22% 25% 21% 10% €150,000 to €299,999 22% 17% 20% 20% 30% €300,000 to €649,999 17% 14% 16% 16% 24% €650,000 to €2,600,000 13% 13% 12% 16% 12% €2,600,000 or more 6% 8% 6% 6% 3% Not sure 5% 4% 8% 4% 3% How much has your business invested in intelligent Unsurprisingly, there is a direct correlation of size between organization size and investment value. The larger the organization, the higher the investment. • The average global investment over the last year was between $190k-$379k, with a higher weight in the US, whereas European markets seem to be more conservative and investing under $190k. • While the majority of industries are still in the ‘less than $114k’ bracket, Insurance/Accounting and Manufacturing see higher percentage of investment – on average 33% investing $190k-$379k and

How has your organization’s budget for intelligent automation projects changed over the last 12 months? Select one The budget for intelligent automation has increased for 82% of respondents. • The average highest increase bracket was between 6%- 16%, according to 33% of respondents. • An increase has been reported across all organization sizes. Interestingly, the small organizations with less than 250 employees are seeing some bigger increases, with 17% of them seeing an increase between 16%-35% - indicating growing recognition from small organizations that AI can help them level the field with larger enterprises. • Wholesale and Real Estate are two of the leading industries, with an average of 90% of respondents within these industries saying their organization’s budget has increased. • Budget for Wholesale organizations saw an increase of 16%-35%, ahead of all other organizations. 82% 7% Global responses % Increased % Decreased 81% 86% 76% 84% 11% 6% 8% 4% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% France Germany UK USA Country split % Increased % Decreased

Total France Germany UK USA At least 1x cost of investment 24% 30% 26% 24% 16% At least 2x cost of investment 57% 50% 54% 57% 66% At least 3x cost of investment 11% 12% 8% 14% 10% We had no expectations 8% 8% 12% 6% 7% What was the anticipated ROI from investments in Intelligent Automation projects? Similarly to responses we recorded in 2022 on this topic, the majority of respondents and their organizations across all countries have had an expectation of 2x the cost of investment. • On average, 57% respondents anticipated seeing at least twice the cost of investment ROI. • Only 8% had no expectations and 11% expected to see 3x the investment cost. • This was an overall common expectation across all markets and organization sizes. • When analyzing industries, the majority of respondents expected an average of 2x cost investment, but Telecoms had the highest expectations of 3x investment cost – 29%, ahead of all other industries. • Levels of expectations were similar to last year, when 62% of respondents said they were expecting at least 2x cost of investment.

Total France Germany UK USA At least 1x cost of investment 31% 33% 28% 32% 31% At least 2x cost of investment 47% 41% 51% 44% 53% At least 3x cost of investment 12% 16% 12% 13% 8% Lower than expected 9% 9% 8% 12% 8% What ROI has it delivered? When analyzing what the ROI actually was, it rose to expectations, with 47% of respondents saying they saw at least 2x the cost of investment. This was slightly higher in the US and Germany. • It is interesting to note that bigger organizations saw a higher number of responses for 2x cost of investment, whereas smaller organizations (less than 1000 people) saw slightly lower averages. • From an industry perspective, Telecom had the highest expectations of 3x cost of investment, but the highest percent of respondents said they saw 2x cost of investment. • Wholesale as an industry saw the highest number of respondents who said they had at least 2x the cost of investment (62%). • Similar to the expectations, the outcome of last year was comparable - 43% saw at least 2x the cost of

Monitoring software (software that monitors processes and how you complete tasks) Intelligent document processing platforms (automatic digitization of documents) Data analysis and insights (e.g. Tableau, Power BI, Qlikview) Artificial Intelligence Mobile productivity apps (e.g. mobile app scanners or PDF converters) None of the above To tal France UK USA 58% 49% 56% 60% 66% 53% 42% 56% 57% 58% 53% 45% 50% 56% 60% 52% 42% 51% 57% 58% 50% 40% 46% 58% 56% 2% 4% 2% 0% 1% Germany Does your company use any of the following Monitoring software, intelligent document processing platforms, and data analysis and insights are the most utilized technologies, however AI and mobile productivity apps are also recognized by respondents. • Unsurprisingly, the larger the organization, the more technologies are being used. Technologies are utilized the most in organizations with 4000-4999 employees (an average of 66% vs an average of 44% in an organization with 250-299 employees). • Manufacturing, Software/Technology and Hospitality are the biggest adopters of the listed technologies, whereas Agriculture • Compared to 2021, there has been an increase in companies using all technologies except for mobile productivity apps (decrease by 1%). Monitoring software (15%) and AI (12%) saw the largest increase in adoption. • In 2023, we are seeing more focus on monitoring software and intelligent document processing platforms, whilst AI is still a key focus area for respondents in their organizations - compared to 2019, where AI and automation systems were the top solutions implemented by respondents.

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  • Title: Navigating the Worldwide Financial Tides: How They Reshape AI Objectives - Insights From the Intelligent Automation Analysis Report
  • Author: Larry
  • Created at : 2024-09-24 16:53:10
  • Updated at : 2024-09-30 16:30:26
  • Link: https://discover-alternatives.techidaily.com/navigating-the-worldwide-financial-tides-how-they-reshape-ai-objectives-insights-from-the-intelligent-automation-analysis-report/
  • License: This work is licensed under CC BY-NC-SA 4.0.
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Navigating the Worldwide Financial Tides: How They Reshape AI Objectives - Insights From the Intelligent Automation Analysis Report