Believe us, we know all too well that the emergence of tech can feel daunting and incredibly confusing, but you don't need to worry. Just like the robots haven't taken our jobs, they're not going to take yours. What legal automation will do is completely change the game for you and your legal team. For the marketers, it all began back in 1992. Although it wasn't until the middle of the 2000s that the marketing automation industry started taking shape, and it hasn't slowed down since.
New research from IDC, released by Salesforce, claims that artificial intelligence (AI) will create 823,734 jobs by the year 2021, surpassing the number of jobs lost to AI technologies such as machine learning and automation. Additionally, the report predicted that AI will increase global business revenues by $1.1 trillion in the same time frame. The two statistics mentioned above will both come about as a result of "efficiencies driven by AI in CRM," the report found. And, if one includes indirect obs, the number of jobs added by AI jumps to 2 million. "This is a net-positive figure in that it includes an estimate of jobs lost to automation from AI," according to the report.
They're solving point problems in various departments (HR/marketing/finance, etc.) with automation – but to grow the business holistically, automation needs to be a strategic objective. To achieve this, effective integration and scaling is needed – i.e. taking these siloed innovations and leveraging them across the company to fuel growth. A recent report from HFS Research found that most businesses have yet to scale their Intelligent Automation programmes, and that some 90 percent aren't taking an integrated approach. The greatest barriers they face include the absence of a clear organisational vision and a talent gap. Until those are overcome, these companies will be hard-pressed to achieve an integrated Intelligent Automation solution that effectively scales.
In 1988, a Cornell University graduate student named Robert Morris wanted to measure the size of the Internet. He wrote a program that could spread across a network, install itself on machines, and then Morris would count the instances. From that, the now-infamous'Morris Worm' unintentionally became one of the first known widespread cyberattacks, infecting over 6,000 machines. In 2017, the Wannacry malware virus hit an estimated 1 million machines. According to a report cited by Statista, there were 305 million ransomware attacks in 2020, directed not by curious scholars but organised crime and malicious state actors.
From 2016 to 2017, the marketing automation category of the marketing technology landscape grew yet again, by 36%, from 156 vendors to 212. If you predicted it was going to consolidate in the past six years, sorry, you were wrong. It's become a bit of a tradition here at chiefmartec.com: Why marketing automation, which I crudely lump together with campaign management and lead management products? It's also a category that I've studied closely over the years, so I'm personally interested in its evolution.