Corporate technology leaders are relying on artificial intelligence and other software automation tools to help companies grow without hiring additional workers anytime soon.
Although some of these efforts predate current economic uncertainties, many are being accelerated or expanded as pressure grows on employers to do more with fewer resources—including fewer workers—until market conditions improvesays CIOs and other enterprise technology executives.
Diogo Rao, Executive Vice President, Chief Information Officer and Chief Digital Officer at the pharmaceutical giant
& Co. , that the goal of an AI-enabled automation strategy is to drive growth without adding to the company’s payroll.
Mr Rao said that last year the company came up with the concept of a “digital human equivalent” – an approach that measures the productivity of an automated process against the cost of paying a worker to accomplish the same task.
Among other areas, Eli Lilly uses a cost-effectiveness assessment approach to develop and maintain an AI-enabled translation application for handling reports and other documents in dozens of languages from research labs around the world. Mr. Rao said that reports are often full of scientific jargon that requires specialists to decipher. Since most specialist translators get paid by the word, he said, “If we hire a laborer, how much does it cost.”
In most of these cases, Mr. Rao said, it’s more cost-effective for a company to grow a “digital workforce.”
Similarly, Mr. Rao applies natural language models to produce internal clinical reports, replacing working medical writers. “We wouldn’t have to hire medical writers for a few years,” he said.
Paid in part by rock economy– and widespread adoption of cloud computing – nearly a third of more than 2,000 global corporate technology chiefs surveyed by an IT market researcher
He said the AI-powered automation program will receive the largest share of new or additional funding next year.
In all, Gartner expects global enterprise spending on artificial intelligence and other software automation systems this year to reach $728.9 billion, compared to $643.3 billion in 2022. The forecast covers spending on a variety of decision-making, processes, and task tools and platforms, which Companies aim to achieve. To deploy as many IT operations as possible. In addition to artificial intelligence, it includes robotic process automation software and low-code and no-code applications, which enable workers outside IT centers to create their own automated programs for any number of tasks.
He said that last month merger plans AI tools, such as ChatGPT, in all of their software and platforms.
While artificial intelligence and software automation can drive efficiencies and improve customer services, the main reason companies are adopting automation technology at a faster pace is to reduce operating costs — including salaries — according to a recent study by technology market research firm International Data Corp.
“The number of bosses is always top of mind for us,” said Jean-Marc Chanwin, global vice president of account management and sales at Templafy, a document automation startup.
Based in Copenhagen, Templafy automates the process of creating business emails, documents, and presentations with a consistent format and company branding guidelines. Over the next six months, Mr Chanoine said Templafy expects to see a 132% year-on-year increase in document automation requests.
gut instinct company
The company has expanded its use of an AI platform with natural language capabilities designed to direct users with questions about their returns to the appropriate tax preparation expert, said Ashok Srivastava, the company’s chief data officer.
Among other benefits, he said, the move avoids the need to hire temporary workers to handle the increased demand during tax filing season. “It’s a classic two-sided market problem,” Mr. Srivastava said, referring to efforts to match the growing volume of incoming calls with an army of tax experts across the country.
At the end of the line, there’s a human expert connected to a customer in the outside world, he says, “but a lot of that experience is powered by AI.”
Pitney Bowes company ,
A century-old logistics company recently automated the processes involved in cross-border shipments, which include determining freight and tax classifications and filling out reams of paperwork.
“Historically this has been a manual process,” said James Fairweather, chief innovation officer at Pitney Bowes. Instead of employees collecting and entering data, he said, the company’s specially designed AI system completes the task in near real time. He said applying artificial intelligence to speed up the task allows commercial customers to streamline international sales and ultimately ship more items — which in turn increases sales for Pitney Bowes.
The automated system also improves service by leveraging more data to better match quoted prices with actual costs, Mr. Fairweather said.
In the coming year, he expects to increase efforts to discover manual processes and replace them with automated systems where possible.
“The automation mindset extends to how you automate your entire business,” said Mr. Fairweather.
Write to Angus Loten at Angus.Loten@wsj.com
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