AI will become mainstream in 2021. For example, trends suggest that as the AI model deployment increases, IT teams will eventually take over AI lifecycle management from data scientists. However, its is unlikely that a “one size fits all” approach will work. This is especially so for an application like AI-powered contract management. To support the automation of business systems it is also likely that no-code software will take on a greater role.
Looking at how the 2021 landscape will change is Agiloft’s CTO, Colin Earl.
Digital Journal: Can we expect no-code software’ to see increased usage?
Colin Earl: The adoption of no-code platforms made substantial progress in 2020 as companies scrambled to deploy new technologies quickly in reaction to the COVID-19 pandemic. With highly configurable automation, no-code platforms increase efficiency and reduce the risk of deploying digital systems. This gives organizations a new level of dexterity that’s essential today, as they can customize their systems to fit the most complex processes, quickly adapt when circumstances change and automate processes to free up time better spent on customers.
DJ: How are no-code platforms changing the business landscape?
Earl: No-code platforms are revolutionizing the software industry and leaving traditional, systems that depend on slow, manual coding behind. In the coming year, the agile development offered by no-code platforms will impact IT departments at the enterprise level, as CIOs look to replace legacy technology and deploy in a matter of weeks versus the many months or years it takes to develop traditional enterprise software.
DJ: What trends have you noticed?
Earl: More CIOs and IT leaders will rely on no-code platforms in 2021 to configure agile applications faster with significantly reduced risk, resource, and time requirements while also satisfying development needs across the enterprise. No code will become the new normal in multiple areas. This will increase the level of responsiveness and agility in the IT department and nine-month turnarounds for system implementations or updates will no longer be tolerated.
DJ: AI will become mainstream in 2021?
Earl: Now that AI is more widely used and enterprises in every industry are discovering new ways to harness its capabilities, we finally see AI technology becoming mainstream in 2021. This means even organizations that are considered “late adopters” will begin to automate various tasks using AI.
DJ: Is adaptable AI important?
Earl: When IT teams consider deploying an AI solution, it’s important to remember that the AI/ML model must be adaptable to the specific needs of each organization. In the case of contract lifecycle management (CLM), the digital contracting system must be agile enough to scale with the organization and its changing needs over the next 10 plus years. If the CLM isn’t flexible and tailored to the organization’s specific challenges at that time, the company will be forced to roll out a completely new system every couple of years, which is extremely costly and time-consuming. AI can be extremely effective if implemented properly, but like other powerful and sophisticated tools, it must be done right.
