Future Prospects of Business-to-Business Technology: Harnessing the Potential of Autonomous AI to Enhance Results
In the modern business landscape, the metric for evaluating the success of a business application used to be its user engagement. But times have changed, and now, professionals seek technology that empowers them to achieve their clients' objectives, such as increasing revenue, providing excellent customer service, and operating efficiently. The frustration with manual data entry, repetitive logins, and manual workflows has led more organizations to embrace agentic AI, which frees them from application overload and streamlines processes.
Agentic AI goes beyond providing recommendations by taking autonomous action to optimize outcomes and improve efficiency. Unlike generative AI, which requires human interaction, agentic AI operates more independently. For example, it can dispatch an ambulance at 3 a.m. when no one else is available or determine when an aircraft needs maintenance based on performance data.
The agentic AI market is expected to experience exceptional growth, with experts projecting a compound annual growth rate (CAGR) of 35% by 2029, reaching a market size of approximately $126.9 billion. This growth is fueled by startups specializing in vertical-specific use cases and solutions across various industries, such as healthcare, manufacturing, finance, and transportation.
The shift from generative AI to agentic AI signifies a paradigm change, enabling professionals to focus on strategic decision-making, complex problem-solving, and client relationships, rather than managing repetitive tasks. This transformation is being driven by reinforcement learning with human feedback (RLHF), which allows models to learn from real-world performance and continually improve.
Although agentic AI offers significant potential, it also presents challenges. Its capabilities will necessitate adjustments to workflows, go-to-market strategies, and tech stacks. IT managers will need to address new security concerns, such as autonomous application logins, and rethink their technology decision-making processes.
To successfully adopt agentic AI, organizations should follow a five-step plan: audit existing processes, choose and develop agentic tools carefully, standardize data, launch a pilot project, and monitor, measure, and optimize performance.
In summary, agentic AI represents a significant shift that can help businesses optimize outcomes and revolutionize industries on a global scale. This change can empower professionals with the time and resources to focus on strategic thinking and meaningful client engagements. The future of AI lies in agentic technology, and businesses eager to capitalize on its potential should begin planning their adoption strategies today.
[1] "The Current and Future Impact of Agentic AI on Businesses," https://www.information-age.com/agentic-ai-businesses-impact-123502864/ (accessed May 3, 2023)
Daniel Saks, co-CEO of AppDirect, emphasizes the benefits of agentic AI, stating that it frees businesses from application overload and streamlines processes, allowing them to focus on strategic goals. In the context of the unicorn startup world, automation through agentic AI is seen as a key factor in driving business success. Furthermore, Reliance Industries, a major global corporation, is also leveraging agentic AI to improve efficiency and operational performance.
