One thing has become clear: smart machines are not future fantasy; they are commercially available.
Gartner predicts that by 2021, smart machine services will enter mainstream adoption, with 30 per cent adoption by large companies.
From our conversations with technology service providers, we know many are investing heavily in services for smart machines now.
Cognitive computing, artificial intelligence (AI), intelligent automation, machine learning, smart robotic process automation (RPA) and deep learning are some of the most hyped terms today.
Gartner’s umbrella term for this class of technologies is smart machines.
The use of smart machines by enterprises can be transformative and disruptive. Smart machines will profoundly change the way work is done and how value is created.
From dynamic pricing models and fraud detection, to predictive policing and robotics, smart machines have broad applicability in all industries.
For technology service providers, smart machines represent opportunities to help enterprises assess, select, implement, change and adapt talent, and for IT and business processes, the opportunity to successfully adopt smart machines for business benefits.
Customers need help to sort through the hype and help with strategic design, training of the smart machines, deployment and integration to expansion and ongoing refinement.
These opportunities will help drive global spending on smart machine C&SI services from $US451 million in 2016 to nearly $US29 billion in 2021.
The spectrum of sub- technologies within smart machines will be adopted at different speeds and timings, with the majority of smart technologies being mainstream adopted in the 2020 through 2025 time-frame.
Enterprises’ investments into smart machines will span more than a decade, so the smart machine C&SI service market will be a long- term one.
Today, early adopter enterprises are piloting and embracing smart machines for a variety of purposes.
However, confusion abounds and the implications are not well- understood, especially around capabilities, process change and impact on the workforce.
Enterprises look to consultants and service providers to help them sort through the hype and harness the uniqueness of smart machines for competitive advantage as well as address the resultant consequences of adoption of smart machines on processes, technology and people.
Top opportunities in smart machines
Smart machine technology adoption is still in the early stages, but the hype is in full swing.
The C-suite of many enterprises are taking note and having exploratory engagements to determine opportunities and to understand the biggest impacts.