India’s 3.5 trillion-dollar economy is the fifth largest globally and is projected to become the third largest by 2027. And, it’s no longer a question of “if” or even “when.” It is more a question of “how.”
The answer to this question, in large part, lies in enterprises driving rapid innovation backed by technology. Among the exciting technological options, Hyperautomation is one such phenomenon that can potentially reshape the landscape of progress. As enterprises accelerate digital, powered by hyperautomation, it will not only spur the growth trajectory of key sectors but also enhance the Indian economy’s outlook on key frontiers.
In a recent roundtable discussion hosted by Newgen, we explored the possibilities that hyperautomation holds for India’s future. The insights shared by our customers, partners, and leaders painted a compelling picture of those possibilities and their potential role in the nation’s growth story.
Boosting Productivity and Efficiency
Efficient enterprises not only attract foreign investment but also ensure that automation benefits reach every Indian citizen and customer. Hyperautomation streamlines and simplifies complex workflows, thereby increasing business efficiency. While industries like insurance have embraced hyperautomation, some others, oil and gas for instance, still grapple with manual processes. To bridge this gap, a robust software infrastructure is needed to enable enterprise-wide hyperautomation adoption.
Elevating Customer Experience
In India’s pursuit of gaining global prominence, exceptional customer service is vital, and hyperautomation can be pivotal to achieving this. One of our customers–a leading telecom company serving a staggering 400 million customers–believes that everything must be automated end-to-end to enable operations with zero human intervention. This concept of “faceless automation” stands poised to flourish over time, reshaping the customer experience landscape.
Innovating for the Future
Unlike in the past, where technological inflection points occurred every 5-10 years, now we see inflection points every 1-2 years or in less time. For instance, ChatGPT has revolutionized how people work and is being adopted quickly.
India’s journey to economic supremacy hinges on fostering an innovative culture. Hyperautomation fosters innovation by liberating human resources from mundane work, channeling them towards creative and strategic endeavors. As enterprises leverage AI and ML for predictive analysis and insightful decision-making, they become sustainably profitable and can also develop the capability for harnessing innovative business models.
Reskilling and Upskilling the Workforce
Adapting to the hyperautomation ecosystem and India’s focus on reskilling and upskilling the workforce go hand in hand. Through a joint effort of private enterprises and the government on education and vocational training, India can nurture a capable workforce that is ready for the complex automation environment.
Fostering Inclusive Growth
Digital reach has bridged the urban-rural divide. The key is to focus on tier 2 and 3 cities as well as the rural population while empowering the specially-abled.
Boosting Global Competitiveness
Embracing cutting-edge technologies will attract investments, encourage collaborations, and strengthen trade relations, enhancing India’s global competitiveness.
To Conclude
The success of hyperautomation initiatives depends on enterprises’ ability to tie various technological elements together to achieve end-to-end automation at the enterprise scale. That’s why we believe that a unified platform that combines these automation capabilities across process, content, communication, AI, and low code is pivotal. A powerful platform that enables enterprises to address the trinity of customer experience, operational excellence, and business innovation in unison can bring hyperautomation to reality, and so India’s goal to be the third largest economy.
Together, we can make it happen faster.
