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                                                                 Kapoor further highlights, “Institutions must understand
                                                                 that having the cutting-edge technology, best solutions,
                                                                 and skilled talent will not suffice to seal their success.
                                                                 They  also  need  to  put  in  efforts  and  investments  in
                                                                 fixing  key  challenges  –  issues  related  to  integration,
                                                                 processes,  security  and  governance,  infrastructure
                                                                 readiness, and organizational structure and culture – to
                                                                 expand   the   automation   footprint   within   their
                                                                 organizations. Moreover, we do believe that integrated
                                                                 intelligent automation will bring the next level of value
                                                                 addition, but to achieve this value, it is critical to break
                                                                 down  the  operating  silos  that  are  still  quite  prevalent
                                                                 within institutions.”
                governance, and post-deployment support as core
                tenets;  intelligence  powered  by  AI  technologies   Despite  the  hype  and  curiosity  that  led  to  significant
                and  innovative tools; and  availability  of talent and   growth  for  many  software  vendors  and  service
                strong ecosystem support.                        providers,  IDC  believes  that  it  is  important,  now  more
                                                                 than  ever,  to  cut  through  the  noise.  Most  of  the
              •  Ready propositions that offer intelligent automation   automation  deployments  in  Asia/Pacific  financial
                solutions for the financial services industry in Asia   services  institutions  currently  lack  scale.  A  siloed,
                Pacific  are  offered  by  the  following  automation   piecemeal  approach  to  automation  is  still  more
                service    providers:   Accenture,   Avanade,    common  than  an  enterprise  wide  strategy.  Moreover,
                Capgemini,  Cognizant,  Mindfields,  Pricewater-  many  early  adopters  that  tried  to  instill  cognitive
                houseCoopers  (PwC),  Tata  Consultancy  Services   intelligence  in  the  automation  of  their  business
                (TCS), and Tech Mahindra.                        processes  have  not  been  able  to  deliver  steady  and
                                                                 accurate results or justify ROI from these deployments
              •  Some  of  the  key  trends  and  notable  market   due to many challenges. This current state exemplifies
                developments in the Asia Pacific financial services   a massive untapped opportunity for institutions, as well
                industry  in  2020  are:  rapidly  growing  demand  for   as  for  the  software  vendors  and  service  providers.◊
                intelligent  automation  and  AI;  increasing  focus  on   (Source: IDC)
                achieving scale; deployment of hybrid and flexible
                workforce; changing organizational structures with                                 By MediaBUZZ
                a  demand  for  new  roles  and  skills;  and  rising
                efforts in building and retaining automation talent.

             February 2020: Automation & AI: accelerator in digital marketing                                  10
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