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We believe automation will reshape the future of the enterprise — by broadening its reach across the workplace; introducing new ways of collaboration; and changing how data is stored and monetized.
Here, we explore the transformative impact of automation across each theme and assess the potential investment implications.
Recent advances in machine learning are driving the adoption of new technologies like robotic process automation (RPA), which uses autonomous software programs (bots) to emulate and automate human actions. Today, bots can complete a wide range of repetitive tasks like scanning paper invoices and processing accounts payable, and their capabilities continue to improve.
While many commentators have focused on the potential job losses resulting from the adoption of artificial intelligence (AI), we think AI-related automation is more about redefining roles and creating new opportunities as automation technology becomes more user-friendly. With bots becoming better at understanding the intent of human commands and easier to program with simple drag-and-drop steps, a broader range of workers can automate their processes without tying up already stretched IT resources. We believe this ability to program with little coding experience — so-called low code — will significantly expand the addressable market for software.
In the future, bots may redefine what we expect from software as they increasingly act as an interface between users and applications. For instance, instead of opening an application to perform a task, workers may go to their messaging app to instruct bots to complete the task. This new approach to application design can have a meaningful impact on the software industry.
The COVID-19 pandemic accelerated innovations in digital collaboration. With hybrid work as the new normal, we anticipate a lasting effect on how workers communicate and collaborate. Video and chat applications are getting smarter, and companies are experimenting with innovative technologies to replicate more of the office experience virtually. After the pandemic, more meetings and events will have…
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