By: Kunal Bhatt, Practice Head & Automation, CMS IT Services
The way businesses operate is undergoing a significant change, and at the center of this transformation is automation. Advanced technologies like the Internet of Things (IoT), Big Data (collecting and analysing large amounts of data), Artificial Intelligence (AI), Machine Learning (teaching computers to learn from data), and Cloud computing (storing and accessing data over the internet) are coming together to make automation even more powerful and effective.
Companies are realizing the tremendous potential of automation to improve the way they do business. It’s like having a powerful tool that can help businesses become more efficient, save money, and come up with new ideas. This is important because the business world is constantly changing, and companies need to be able to adapt quickly to new challenges and opportunities.
In India, many businesses have started using automation, and this has led to some significant changes. Companies are not just doing things the same old way; they’re reimagining how things are done. This has led to better decision-making, more efficient processes, and improved experiences for customers. In other words, automation is helping businesses work smarter and more effectively.
By embracing automation, companies are changing the way they operate. This can mean rethinking their entire business model to become more profitable and competitive. However, this change is not always easy. Businesses face various challenges, such as dealing with disruptions in the market, figuring out the right number of employees needed for their operations, and keeping up with the ever-changing market conditions.
Businesses are recognising that in order to stay relevant and successful, they need to undergo a digital transformation. This means adopting new technologies and ways of doing things to achieve significant positive changes in their operations. Automation has the power to create these changes across all types of industries, including retail (selling products to customers), logistics (managing the flow of goods), manufacturing (making products), and the BFSI sector (Banking, Financial Services, and Insurance).
In India, there has been a notable increase in the use of intelligent automation. Around 90 percent of companies have transitioned to using cutting-edge automation technologies in their operations. This shift is so significant that the market for industrial automation in India is expected to double from USD 13.23 billion in 2023 to USD 25.76 billion by 2028. This is a clear indication that companies are investing heavily in automation to ensure they remain competitive and up to date with the latest advancements.
The opportunities for smart automation are plentiful. For Indian businesses, it’s crucial to adopt a mindset that prioritises automation-driven operations. This means making sure that technology plays a central role in how a company functions. This shift brings many benefits:
- Enhanced Efficiency: Automation reduces the chance of human errors and speeds up processes. It also encourages a culture of innovation within the company, where employees come up with new ideas and solutions.
- Transformed Business Models: Using automation can change the way a company does business, making it faster and more adaptable to changes in the market and customer preferences. It also encourages teams from different departments to work together towards common goals.
- Cost Savings: While investing in automation technology might seem expensive initially, the long-term benefits are worth it. Moving from traditional operations to modern cloud-based platforms can lead to new ways of making money through innovative offerings. This change also reduces downtime and makes better use of resources, ultimately saving costs.
- Scalability: Being able to quickly adjust to changes in the market is vital for businesses today. Automation makes it easier to scale up operations without needing massive changes. This is not only cost-effective but also keeps companies competitive.
- Data-Driven Insights: Automation generates a lot of data, which gives companies valuable information about how their customers behave and how well their operations are performing. This helps businesses make informed decisions and quickly adapt to shifts in the market.
- Improved Customer Experience: Meeting customer expectations is crucial for staying relevant. Automation solutions that use data can tailor products and services to individual customers, respond quickly to their needs, and always be available. This leads to happier customers who stick around.
- Enhanced Data Security: Automation relies on data, and companies worry about keeping that data safe. However, modern automation solutions include strong security measures to prevent breaches and keep data private. This helps protect companies from cyberattacks.
- Achieving Sustainability: Being environmentally conscious is important in today’s fast-paced business world. Automation can make operations smoother, cut waste, reduce downtime, and help companies grow naturally. This benefits both the company and the environment.
Moving forward
To succeed in today’s rapidly changing business world, companies need to seriously consider automation. It’s not just a luxury; it’s becoming a necessity. Automation gives businesses a competitive edge by helping them meet customer demands, improve their operations, and come up with new ideas. Although it might take time for companies to fully embrace an automation-driven way of thinking, it’s the best way forward in this evolving landscape.
