CAMBRIDGE, Mass., Jan. 19, 2021 /PRNewswire/ -- A lack of accountability within the private sector will lead to governments taking over responsibility for AI regulation over the next five years, according to new research by Pegasystems Inc. (NASDAQ: PEGA), the software company that crushes business complexity. The global study, conducted by research firm iResearch, surveyed 1350 C-level executives across seven different industries in 12 countries to examine how growing technology trends such as artificial intelligence (AI) governance, hyperautomation, extended reality (XR), extended edge, and distributed cloud will evolve over the next five years.
The research identified a growing need for business leaders to take stronger accountability for the governance, integration, innovation, and adoption of emerging technologies so they can better enact change within their organizations. Key findings from the study included:
However, the study suggests that this shift to hyperautomation is more than just a short-term measure borne out of necessity; today, only 32% see hyperautomation helping their business improve workflow and case management, but this number almost doubles to 61% when asked to look five years ahead. Meanwhile, in supply and distribution chains, only 26% see a current hyperautomation impact – a figure that stretches to 64% when respondents were asked to estimate its impact in five years' time.
For hyperautomation to become a reality, concerns around integration must be addressed. Fifty-eight percent of respondents cite integration with existing legacy systems as the biggest automation challenge, while 40% point to compatibility with third-party technologies as their biggest concern.
Quotes & Commentary:
"If you want a real competitive advantage, you have to take an active, deliberate approach to adopting new digital technology -- now," said Don Schuerman, CTO & vice president, product strategy & market, Pegasystems. "Technology keeps advancing and is not going to slow down for organizations to catch up. Business leaders who are willing to embrace emerging technologies including AI, XR, extended edge, hyperautomation and distributed cloud will be the most likely to come out on top over the next five years."
Supporting Resources:
Download Pega's Future-proof 2025: Technology Trends Survey: https://www.pega.com/tech-trends-future-proof-2025
Notes to Editors
The survey canvassed C suite-level executives working for enterprises in financial services, retail, healthcare, life sciences, manufacturing, public sector, and telecommunications. Respondents work in customer service, information technology, and marketing and operations, and represent companies that operate in the Asian-Pacific (APAC), Europe, Middle East, and Africa (EMEA), and the Americas.
About Pega Pega delivers innovative software that crushes business complexity so our clients can make better decisions and get work done. We help the world's leading brands solve their biggest business challenges: increasing customer lifetime value, streamlining customer service, and boosting operational efficiency. Pega technology is powered by real-time AI and intelligent automation, while our scalable architecture and low-code platform help enterprises adapt to rapid change and transform for tomorrow. For more information on Pegasystems (NASDAQ:PEGA), visit www.pega.com.
Press Contact:
Jon BrigdenPegasystems jon.brigden@pega.com Twitter: @pega
All trademarks are the property of their respective owners.
View original content to download multimedia:http://www.prnewswire.com/news-releases/private-sector-expects-to-lose-control-of-ai-governance-within-five-years-says-new-study-301209693.html
SOURCE Pegasystems Inc.