Areteans is well-positioned to assist businesses, in the three key technologies emerging as pivotal forces, shaping the way forward.
Certainly, generative AI is pivotal to significant transformation in business operations, unlocking unprecedented possibilities. With a surge in demand across various industries in 2024, generative AI will help hyper-automate tasks, optimize operations, seamless services and accelerate the launch of new products and services. Beyond that, it will elevate customer experiences and facilitate dynamic price optimization through the integration of rules, predictive and prescriptive models, and more.
At Areteans, we understand the dynamics of this evolving landscape. As organizations explore the most effective ways to harness generative AI, we stand ready to partner them in this journey. The integration of Pega GenAI™ with Pega Infinity platform exemplifies our commitment to empower enterprises to achieve their objectives. Through this synergy, we aim to deliver innovative generative AI-powered solutions, transforming both front-office and back-office outcomes.
Since the introduction of generative AI into business discussions last year, the idea of being future-ready has become inseparable from the integration of AI. This formidable technology empowers businesses with the speed, agility, and precise decision-making capabilities required to thrive in the increasingly complex business landscape.
According to a 2023 IDC global study, companies are experiencing an average return of $3.5 for every $1 invested in AI. Notably, 5% of organizations worldwide are achieving an even higher return of $8 on average. Furthermore, 92% of AI deployments are completed within 12 months, with returns being realized, on average, within 14 months of deployment. IDC projections indicate that generative AI is poised to contribute nearly $10 trillion to the global GDP over the next decade.
As per a Markets and Markets report, the process mining market is on a substantial growth trajectory, with projections indicating an expansion in market size from USD 1.8 billion in 2023 to USD 12.1 billion by 2028. This significant growth is expected to occur at a CAGR of 45.6% over 2023-28.
To address the evolving demands of customers and businesses, enterprises realize the need to engage in the ongoing identification, analysis, optimization, and continuous monitoring of essential business processes. The key to achieving the desired uber flexibility and responsiveness lies in harnessing the capabilities of process mining and process AI. At Areteans, our role is to strategically facilitate clients' progression from traditional paper-based processes to automation and ultimately to autonomous operations.
An example of this transformative journey is our ability to boost profitability within the insurance sector. By implementing solutions that leverage Pega Process Mining to identify and eliminate performance bottlenecks and then using Process AI, we can automate industry processes and elevate them to intelligent and autonomous levels, thereby enhancing overall operational efficiency and effectiveness.
The global emission monitoring system market size is projected to grow from USD 3.2 billion in 2023 to USD 5 billion by 2028, at a CAGR of 9.3%. Manufacturing enterprises are required to ensure that their pollutant emission rates are within specified limits. To achieve this, countries have issued laws and ordinances that provide detailed instructions for emission control measures. For instance, US implemented the Environmental Protection Agency (EPA) Clean Air Act, while Germany has introduced the Federal Emission Control Act. The growing concern over greenhouse gas emissions has led to an increase in demand for carbon measurement and monitoring systems that help protect the environment.
As nations and corporations intensify efforts to meet net-zero goals, sustainable technologies are gaining traction. Recognized with the SEAL award, our AI-powered emission reduction solution, CZERO
offers a practical tool to make a significant impact on their sustainability journey. By integrating AI with Pega's dynamic case management capabilities, CZERO establishes carbon-neutrality targets, automates emission monitoring, and formulates proactive strategies to reduce carbon footprints.
2024 will be about harnessing the potential of these technologies to propel businesses beyond mere future readiness. At Areteans, we are strategically positioned to actualize these possibilities for our customers. Operating through 12 centers of excellence globally, spanning from Auckland to New Jersey, our expansive presence ensures the delivery of solutions across diverse verticals. Fueled by innovation and a dedicated team, our focus strengthens our position in key verticals and expanding into new sectors.
We remain committed to partner businesses in their journey to the future, while actively influencing and shaping it. Our dedication to excellence and innovation reflects in our continuous pursuit of delivering strategic value through cutting-edge solutions to customers. Ultimately, their success is our success.
Contact us today to begin your transformation journey.