AND JUST LIKE THAT, THE AGE OF AUTOMATION IS NOW AT HAND

01 Jan AND JUST LIKE THAT, THE AGE OF AUTOMATION IS NOW AT HAND

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After years of incremental growth, automation is primed for explosive mainstream adoption in 2024. Fueled by massive technological progress, cultural shifts and economic incentives, automated systems will permeate across industries. Following are the top drivers signaling that automated technologies will hit key milestones next year.

  1. Exponential Improvements in Capability – Automation technology is achieving performance thresholds needed for mass deployment. AI algorithms guiding automated systems can now match or exceed human level precision in factories, warehouses, retail outlets and back offices. Combined with falling costs and scalability of robotic systems and sensors, this will unleash automation everywhere.
  2. Changing Nature of Work – The pandemic triggered a remote work revolution. As hybrid work gets entrenched, location flexibility will become mandatory. This will drive demand for “work from anywhere” automation tools. With talent shortages plaguing most sectors, automating tasks will provide relief. Almost 50% of companies report being extremely reliant on automation to enable operational continuity.
  3. Mainstream Adoption Across Industries – Industries that have piloted limited automation are now ready for an enterprise-wide rollout. OECD estimates that in the next two years, 40-50% of companies will have integrated some automation technology across functions like customer service, document processing, QA testing, invoicing, security and manufacturing. Specialized automation solutions for healthcare, retail, accounting and even creative fields like marketing will emerge.
  4. Government Investment – Governments are making automation a national priority. South Korea aims to automate 50% of factories by 2030. Singapore plans to invest $1 billion over 3 years in AI and automation. The U.S. CHIPS act includes $52 billion funding for advanced robotics and automation. Such state support will accelerate private sector activity.
  5. Demand For An Automated Future – Consumers now largely perceive automation as empowering. 67% express enthusiasm for automation in their everyday lives according to Capgemini research. Young demographics want self-checkout counters, personalized recommendations, and virtual assistants. For millennials and Gen Z, frictionless automated experiences represent baseline expectations rather than novelty.

 

With these automation-specific factors reaching concurrency along with adjacent tech megatrends like cloud computing and 5G maturing, 2024 will trigger an upward shift towards intelligent automation ubiquity. As CompTIA’s report concludes, “Only those organizations that embrace automation in the next 12-18 months will be able to realize measurable competitive advantages.” The automation gold rush is on.