A new release from professional services firm Accenture emphasizes the need for businesses to embrace digital tools such as artificial intelligence (AI) in order to maximize operational resilience. The report, named Reinventing Enterprise Operations, surveyed 1,700 executives from 15 industries across 12 countries, mapping four stages of operational maturity – foundational, automated, insight-driven and intelligent (most mature).
According to the findings, up to 90% of business leaders are utilizing AI, while nearly three-fourths (73%) are prioritizing the technology over other investments. As a result, generative AI is expected to support 40% of working hours in the coming years.
Despite these impressive figures, the survey further highlighted those enterprises are struggling to integrate processes and data management to reach higher operational maturity. Specifically, the research found that only 9% of companies are integrating and optimizing AI investments for success.
One of the most important steps should be data-driven decision-making and automating processes to reduce manual work. Organizations that prioritize customer experience – as well as talent management – are also better prepared for the future. To maximize the ROI from any new technology, it is essential to consider process, data and people.
Accenture recommends five primary actions for achieving the highest level of operations maturity. These include humanizing AI experiences, defining a clear data strategy, innovating processes, empowering an agile workforce, and looking at value creation holistically.
Yusuf Tayob, group chief executive for Accenture operations, said that by making the right investments of this type, companies can see an increase of 1.4 times in operating margin, 42% more efficient product/process innovation and 30% better customer engagement.
The benefits of reinvention are clear, however, there are also considerable risks. Organizations must take necessary steps to break down silos, upskill teams and align digital capabilities with their business objectives. Failure to do so can lead to wasted resources and missed opportunities.
Accenture encourages organizations to select strategic partners to provide industry expertise, talent and access to automation platforms. Moreover, they must ensure a digital core that is data and people-led, and focus on holistic value to make operations a competitive strength.
Accenture is one of the world’s largest companies focused on providing professional services and consulting. Established in 1989 as the business and technology consulting division of accounting firm Arthur Anderson, the company has expanded over the years and now offers a wide range of services related to analytics, security, digital services, cloud and more.
Yusuf Tayob, group chief executive for Accenture operations, has been leading the way in the firm’s operational reinvention initiatives. He previously held a number of roles at the company, including senior managing director of Accenture Operations in Europe. Since 2017, he has been leading an extensive review of operations for the firm, including the current report on Reinventing Enterprise Operations.
