• April 20, 2024

Before the holidays, German process mining giant Celonis released a new report that found executives are concerned that shortcomings in their ability to understand their processes could be slowing down AI implementations. According to The 2023 Process Optimization Report, 72 percent of those polled in the study said they may not be able to move forward with AI if they don’t get a better handle on their processes.

“The potential of emerging technologies, including AI, is top of mind for every enterprise right now, and it’s clear that business leaders understand the need to optimize their processes to be able to harness that potential,” said Alex Rinke, co-founder and co-CEO of Celonis. “However, they’re facing numerous barriers in doing so; departments speak their own languages, data and teams are siloed, systems don’t play well together, and processes are hard to see.”

The study found nearly half of those surveyed (49 percent) are already investing in process optimization technology and another third plan to in the next three years. Respondents said the top factors driving the implementation of process intelligence technology are:

·       Interest in harnessing emerging technologies such as AI (70 percent)

·       Cutting costs (69 percent)

·       Competitive pressure (64 percent)

·       Changing customer expectations (64 percent)

·       Compliance with legislation or regulation (64 percent)