In episode 100 of the Acceleration Economy Minute, Kieron Allen discusses new research (commissioned by Celonis and IBM Consulting and conducted by HFS Research) on the impact of process intelligence in combating current macroeconomic challenges. Celonis is on our Top 10 Shortlist of AI enablers and IBM is on the Cloud Wars Top 10.
This episode is sponsored by Acceleration Economy’s “Cloud Wars Top 10 Course,” which explains how Bob Evans builds and updates the Cloud Wars Top 10 ranking, as well as how C-suite executives use the list to inform strategic cloud purchase decisions. The course is available today.
00:15 — The HFS Research data identifies process intelligence as the number one way to fight volatile markets and disrupted supply chains that occur amid current macroeconomic challenges. The study is titled Infusing Intelligence and Predictability with Digital Process Twins, and the data reflects responses from 260 global business leaders.
00:42 — Key findings include:
- 90% of goods-producing firms identify supply chain disruption as a key market challenge
- 77% identify market volatility as a challenge
- 88% of enterprise leaders expect increases in process intelligence investments despite the harsh economic climate
- More than 95% of organizations see combining visibility into cross-functional operational performance and monitoring as a “game changer”
01:05 — Process intelligence has emerged as the top way to address “process debt,” given increased confidence in process mining technology. Enterprise resource planning (ERP) systems alone can’t reduce process debt. Process intelligence is fast becoming one of the most important tools in companies’ arsenal to mitigate these issues, saving time and money.
Which companies are the most important vendors in AI and hyperautomation? Check out the Acceleration Economy AI/Hyperautomation Top 10 Shortlist.