The piece also highlights the role of AI in automation, with examples of companies like Mahindra & Mahindra, where citizen developers automated processes, saving significant work and development days. The author also discusses the increasing importance of ERP analytics, the role of ERP in driving sustainable operations, and the rise of the sovereign cloud market. The integration of AI and Cloud ERP is seen as a key driver for streamlining business processes and addressing complex challenges efficiently.
Key takeaways:
- 2024 is predicted to be the year of Cloud ERP, powered by Business AI, which is expected to reshape the business landscape and play a crucial role in proactive planning, informed decision-making, and driving improved efficiency.
- Cloud ERP adoption has surged in the past 24 months, with the global market projected to nearly double from $64.7 billion in 2022 to an estimated $130 billion by 2027.
- Automation and AI are reshaping ERP, with examples like Mahindra & Mahindra where citizen developers automated 250 processes in 3 months, saving significant workdays and development days annually.
- Geopolitical shifts are fueling a surge in sovereign cloud services, especially in sensitive sectors, with the global sovereign cloud market predicted to hit $41 billion in 2024, a 16% jump from 2023.