target audience: TECH SUPPLIER Publication date: Sep 2024 - Document type: Market Presentation - Doc Document number: # US52605524
Building a Shortcut to Value: The Multiplier Impact of AI on the Enterprise Applications Market
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Abstract
Organizations have struggled moving from legacy applications to modern SaaS and cloud-enabled systems. While the COVID-19 pandemic did much to change up the move to modern enterprise applications, the movement is still slow and continues to take time. Organizations are now experimenting with AI use cases and finding value within their functions and in customer experience. And they have embraced AI embedded in their enterprise applications; with many refusing to buy an enterprise application without it.
AI presents an opportunity for buying organizations to transform processes, operations, and experiences. However, most organizations are facing increased challenges that are limiting further evaluation and expanded use of AI. Enterprise applications vendors are well positioned to help buyer organizations accelerate AI adoption and time to AI value. But doing so means that they must help buyer organizations address the opportunities.
This presentation lays out the opportunity for application vendors to become "the AI adoption leader" and one of the top strategic AI partners for organizations. And most importantly, it shows the vendors how to focus on becoming the organization's 'short cut to AI value.
"By leveraging applications with embedded AI, organizations gain faster access to AI innovation (2x multiplier effect). And by activating features on an already existing solution, the organization can shorten the time significantly to AI impact (3x multiplier effect)," said Mickey North Rizza, group vice president, Enterprise Software. "In addition, many application vendors offer extended workflows that can be created by their partners or the buying organization, bringing even more value."