Business process management is changing course before our eyes. Forecasts for 2020 predict the widespread adoption of ready to use ‘out of the box’ platforms to produce custom IT solutions for businesses and the accelerating adoption of formerly niche technologies such as AI and blockchain. The first years of the 21st century were marked by the increasing maturity of the digital transformation of, simultaneously, the economy and the daily lives of individuals. This transformation has brought colossal changes to the way businesses are run; once bold futuristic proposals such as the Internet of Things, artificial intelligence (AI), and augmented reality (VR) are now being regularly implemented when developing new solutions. While more mature technologies will continue to be the hub around which most digital transformation initiatives revolve, it is important to examine solutions that will not become outdated in the face of upcoming changes.
From futurism to business practices
The authors of the IDC FutureScape: Worldwide IT Industry 2020 Predictions report indicate that the digital transformation of business is entering maturity; there are more and more IT solutions, but our expectations from them are also rising. Also, IDC estimates that by 2024 more than half of all IT spending will be allocated directly to innovation connected with digital transformation, as compared to one-third in 2018.
Experts are forecasting an explosion of IT solutions for business applications in the coming years. By 2025 almost two-thirds of businesses will be developing solutions using dedicated platforms which enable them to quickly and cost-effectively build business processes based on their own workflows and needs.
Although Polish businesses are generally still in the ‘early adopter’ phase for business process management applications, solutions for digitizing documents are becoming increasingly popular and can be categorized as ‘reaching maturity’. In the light of the global forecasts outlined above, immediate investment in comprehensive business management platforms is mandated rather than a narrow focus on the digitization of document workflows.
Blockchain goes beyond finance
As experts from both the Finances Online and the Forbes portals note, in the coming years a significant increase in the use of blockchain technology, previously associated mainly with cryptocurrencies, can be expected. Data, once saved in a blockchain, cannot be changed even by sophisticated hacking techniques; data can only be added at the end of the chain. Major market players such as: Amazon Web Services, Samsung, Microsoft, IBM, and Alibaba are already working on incorporating the high level of security offered by blockchain in their service models.
Experts predict that blockchain has a role in all future verification and authentication operations. With regards to documents secured by digital signatures it is already playing a crucial role – for example with document workflows on the AMODIT platform.
AMODIT Trust Center is a modern cloud based service used for the electronic signing of documents; both for AMODIT users and their business partners and clients. To verify the authenticity of a document you can download the full blockchain at any time and verify its integrity. The verification process maintains the privacy of the signatories and the confidentiality of the document contents. You can learn more about using electronic signatures in AMODIT here.
AI for workflow recognition and projection: the future has arrived
IDC experts estimate that by 2025 at least 90% of new business applications will use artificial intelligence. Forbes, in turn, points to artificial intelligence and machine learning as a practically indispensable technology in the 2020s; a technology which opens new business opportunities in several areas. One area is the lowering of barriers to entry for digital solutions – both for companies implementing their first business workflow and for people who have to work with a new solution.
From its very first implementation the AMODIT platform has been using artificial intelligence algorithms to model workflows and to predict user behavior. The system “learns” user behavior on the basis of behavioral history and data collection, then suggests what the next stage in the process should be and who should perform it. This enables the efficient transformation of business needs into a working solutions. Thanks to AMODIT’s AI, implementation is faster and easier than other applications and platforms in the Rapid Business Solution Delivery class.
AMODIT: ready for the next decade
Although technologies are changing at a dizzying pace, the digital transformation of an organization takes time. Fortunately, much can be done without incurring colossal costs by incrementally improving individual business processes step by step.
In the demo version of the AMODIT platform you can try example processes, including a contract workflow process which uses blockchain technology. Contact us to learn more about the flexible and effective delivery of AI-based business applications.