AI and process intelligence are intrinsically linked. To maximize the benefits of process mining, you need AI and automation in place. Now, a new report from Celonis, a leader in process intelligence, has found that 72% of business leaders are concerned that inadequate process management is hindering AI success.
This is just one of the findings from The 2023 Process Optimization Report, which comprehensively examines how process optimization drives change and leverages opportunities for companies across the board. In this article, we’ll run through the main findings from the report.
AI: Fundamental Objective
In total, 1,217 business leaders and process experts from organizations with minimum revenue of $500 million were surveyed for the report carried out by research organization Insight Avenue. It found that, overwhelmingly, organizations value process optimization as a key driver in meeting their business objectives. In fact, 99% of those surveyed agreed with this sentiment, considering process optimization essential or important to achieving their business goals.
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In total, 89% of respondents considered AI as one of those fundamental business objectives, following the global trend of generative AI and other AI technologies dominating digital transformation in every sector.
Beyond this, in regards to value generation from process optimization, 83% of respondents consider processes as their most significant lever for realizing value and the one that will deliver change at the fastest pace. And what’s driving process optimization? Respondents identified five leading factors:
- 70% highlighted an interest in harnessing AI and other emerging technologies
- 69% cited cost cutting
- 64% cited competitive pressure
- 64% want to change customer expectations
- 64% use process optimization to comply with regulatory guidelines in their industry.
While almost three-quarters of respondents highlighted sub-optimal processes as a significant factor in hindering AI implementation, it wasn’t the only insight. Another 63% claimed lost time and reduced productivity, while 46% said it caused them to miss value-generation opportunities, and 39% found it affected employee morale.
Objective: Process Excellence
As you would expect, the report not only laid out the problems and pain points experienced by business leaders but the primary solution, process optimization. The results of the survey were very positive for companies like Celonis operating in the process mining space, with more than 80% of those surveyed investing in process optimization technology or, at the very least, planning to do so within the coming three years.
38% of respondents are using process mining specifically, with 32% evaluating the benefits of the technology. And 82% of business leaders see process excellence becoming a core business concern in the next five years, putting it in the same tier as marketing, product development, and accounting.
At the recent Celosphere conference in Munich, Celonis’s annual user conference, we reported on all the main sessions and announcements. Overwhelmingly, the message of Celosphere 2023 was one of value generation, how process mining expedites value at an unprecedented speed.
While this feedback direct from organizations and customers is important and insightful, independent third-party research, such as this latest report commissioned by Celonis further supports the fact that process optimization not only drives value but supports the most important emerging technologies in the business world today.