Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Europe faces AI expansion hurdles, ISG report finds

EditorNatashya Angelica
Published 01/02/2024, 10:20
© Reuters

LONDON - The European intelligent automation sector is encountering significant challenges in integrating generative AI (GenAI) due to cultural, ethical, and regulatory concerns, a report from Information Services Group (ISG) (Nasdaq: NASDAQ:III) revealed. Despite the potential of GenAI to transform numerous aspects of intelligent automation, including advanced search, prediction, and creative tasks, its adoption is being tempered by the need for localization and respect for Europe's diverse linguistic and cultural landscape.

The 2023 ISG Provider Lens™ Intelligent Automation – Services and Solutions report for Europe highlights the trend toward hyperautomation, which is seen as crucial for broader digital transformation initiatives. Enterprises are increasingly seeking external service providers to facilitate this shift, leveraging their strategic consulting and industry expertise. These providers are critical in addressing the organizational changes and workforce disruptions that accompany the adoption of intelligent automation technologies.

James Ewing, director at ISG Automation in EMEA, emphasized the role of service providers in guiding the correct sequencing of automation candidates and implementing industry-specific use cases. Additionally, they are instrumental in managing the cultural and organizational shifts inherent in these initiatives.

The report also identifies the rise of GenAI and large language models as a significant disruptor in the field. Major providers are heavily investing in GenAI capabilities and developing a broad range of use cases for its application in intelligent automation. However, the report notes that the path forward is fraught with obstacles, particularly in Europe, where regulatory frameworks and ethical considerations present unique challenges.

Furthermore, the report assesses the performance of 37 providers across three quadrants: Intelligent Enterprise Automation, Artificial Intelligence for IT Operations (AIOps), and Next-Gen Automation. It recognizes Accenture (NYSE:ACN), Capgemini, and Tietoevry as leaders in all three areas, while other companies like Cognizant (NASDAQ:CTSH), HCLTech, TCS, and Wipro (NYSE:WIT) also receive commendations for their leadership in multiple quadrants.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The findings are based on a press release statement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.