target audience: TECH SUPPLIER Publication date: Sep 2024 - Document type: Market Perspective - Doc Document number: # US51079024
Application Suite Advantage: AI Is the Opportunity to Gain More Market Share
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Abstract
This IDC Market Perspective looks at the opportunity enterprise application technology providers have with embedded AI processes and the trajectory that can quickly be gained when the product road map is aligned to the buying organization's application portfolio. Embedded AI is critical in the enterprise application–buying decisions of organizations globally. Without embedded AI, enterprise application vendors may lose customers. Embedded AI offers an opportunity to bring more clients on board, move beyond just one or two functional areas within the offering, and broaden the cross-portfolio/functional workflows.
"Enterprise application–buying organizations are making decisions to invest when embedded AI is part of the product offering. Unfortunately, many enterprise application vendors are still struggling to embed AI across their portfolio of products. A large segment of enterprise technology vendors are stuck in the proof of concept of just one functional process within an application versus looking at their full portfolio or other lines of business processes that might be similar," said Mickey North Rizza, group vice president, Enterprise Software at IDC. "Once embedded AI takes hold, the buying organizations will want to consume even more quickly. This helps bring forward more autonomous workflows aiding the employee to work more efficiently and collaboratively with their digital coworker. The time is ripe for enterprise application vendors to use embedded AI as an opportunity to build their future market share."