In today's fiercely competitive market, artificial intelligence (AI) is no longer just a buzzword. Companies across industries are deploying AI to enhance customer experience and pioneer predictive maintenance models to give them a crucial edge. This is especially true in Singapore, a nation at the forefront of the digital revolution, where AI presents both familiar opportunities and unforeseen challenges.
Singapore has established itself as a global frontrunner in AI advancements, ranking among the top 10 globally. Boasting over 80 active research faculties, 150 R&D teams, and a thriving startup ecosystem, it is also fueled by the National AI Strategy (NAIS 2.0). While Singapore shows strong commitment and resources dedicated to AI, effectively translating these efforts into practical applications across various sectors remains a crucial aspect to consider.
Workato's 2024 Work Automation Index revealed a remarkable 173% surge in automation within the Asia Pacific and Japan region year-on-year. Businesses are increasingly embracing generative AI to streamline operations and boost profitability, aligning perfectly with the current economic focus on efficiency and growth. This powerful technology excels in tasks like content creation, information analysis, and back-office functions, impacting various departments.
Globally, 48% of AI use cases for revenue operations suggest companies are seeking innovative ways to "do more with less' and achieve profitable growth, while 31% of AI applications are in IT operations, leveraging AI's ability to analyse information to manage helpdesk and service tickets efficiently.
In this dynamic business landscape, it is imperative for organisations to be agile, ready to adapt, and eager to embrace new opportunities as market conditions shift. Inflexibility is a liability. The new automation mindset cultivates plasticity within companies, encouraging continuous learning, evolution, and adaptation.
Why more tech isn't solving our problems
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Our research revealed a surprising irony: Companies with more applications often face higher, not lower, employee workloads. While individual applications are designed to automate and streamline processes, the actual outcome is often fragmentation, frequent context switching, and a burdensome phenomenon known as the "application toggling tax."
This isn't just a case of diminishing returns from technology overload—it's a systemic issue. Treating the symptoms of inefficient processes by adding more technology only creates new complications. Instead, leaders need to address the underlying problem of siloed data and disconnected processes.
Micromanaging small improvements and siloed, task-based automation can also lead organisations towards a slow decline. While automating individual tasks may deliver short-term cost savings, these "band-aid solutions" cement existing inefficiencies into operations. It's a shortsighted approach that hinders transformation.
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Embracing the growth mindset
Unlike resilient environments where companies merely bounce back, antifragile ones thrive on volatility, uncertainty, and disruption. At the heart of antifragility lies the commitment to continuous learning, strategic experimentation, and a willingness to navigate and prosper amidst perpetual change. This ethos is critical not only at the individual and team levels but across the entire spectrum of an organisation.
Building an antifragile approach at all levels is crucial to fostering continuous learning, strategic experimentation, and a willingness to flourish amidst constant flux. Antifragile companies, like Grab, the Southeast Asian super-app, embrace the opportunity to “break things” and rebuild them better through automation.
Faced with the unprecedented challenges that Covid-19 posed, particularly to its core rideshare business, Grab took the chance to enhance its operations, setting new industry standards in the process. They leveraged disruption as a springboard, seamlessly pivoting to expand their offerings to financial and delivery services.
IT are guides, not gatekeepers
IT departments are no longer seen as gatekeepers of technology and innovation. Today, they have evolved into a player-coach role that is reshaping the very fabric of business operations.
Generative AI is breaking down the barriers between technical and non-technical users. These solutions empower individuals across various departments to automate tasks like report writing, data analysis, and even parts of software development. The creation of chatbots, the automation of email sequences, and the development of sophisticated workflows are no longer confined to the realms of IT specialists.
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In fact, the emergence of the low code/no code movement signals a paradigm shift when IT no longer monopolizes the domain of automation. According to the Work Automation Index, business teams across the globe now shoulder a significant portion of the automation workload (44%), a scenario that would have been unthinkable just five years ago.
By empowering non-technical team members with the capabilities to automate and innovate, organisations are tapping into a previously underutilised reservoir of potential. The agility and speed at which tasks can now be automated are propelling businesses forward, enabling them to respond to changes and challenges with unprecedented flexibility.
Technology is a catalyst for transformation, not a silver bullet
While new technology offers powerful potential, it's crucial to remember it's just one piece of the puzzle in achieving success. Strategic automation, when seamlessly integrated with an organisation's operational blueprint, can be a powerful tool for driving innovation and growth.
Just as with any tool, its effectiveness depends heavily on quality input. The foundation of reliable and trustworthy outcomes rests upon the definition and standardization of data—a task that demands close collaboration between IT specialists and business experts.
For organisations looking to harness automation's full spectrum of capabilities, enterprise AI platforms can serve as the backbone for responsible AI adoption. These platforms offer the necessary framework of control, security, and accountability, essential for effectively managing large-scale deployments.
As the world undergoes rapid transformation, organisations at the forefront of embracing innovation are set to flourish. Cutting-edge technologies, particularly AI, stand as catalysts for growth, speeding up the pace of innovation, unlocking valuable insights, and boosting predictive abilities.
Singapore’s National AI Strategy 2.0 sets the stage, yet true progress demands more than just foundational efforts—it calls for the creation of robust connections across the organisational landscape. By fostering a culture of antifragility, collaboration, and empowerment, organisations can unlock the full potential of automation and drive innovation, agility, and success in today’s digital landscape.
Markus Zirn is the chief strategy officer of Workato
