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Email: partnerships@silicoai.com
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Let us help you make better business decisions. Contact us today to start your Business Process Simulation journey.
Email: sales@silicoai.com
160 Kemp House, City Road, London, EC1V 2NX, UK
In today's rapidly evolving business landscape, predictive data is becoming increasingly important as a means to inform forward-looking decisions, as revealed by our survey results.
Silico’s latest report, Forewarned is Forearmed, examines attitudes toward business planning and the emerging technologies that can help companies plan their future in an uncertain world. Our survey revealed that emerging technologies, such as Digital Twin technology, are enabling businesses to get one step ahead of their competitors and to be better prepared.
Business Process Simulation (BPS) using Silico's Digital Twin of the Organisation can help businesses optimise their processes with confidence, leveraging predictive data insights to anticipate future outcomes and stay ahead of the curve.
Almost all businesses are comfortable with technology making business decisions and planning autonomously with little or no human input.
Over two-thirds of businesses are utilising Digital Twin technology and 1 in 5 plan to implement it in the next 12 months.
Three-quarters of businesses are already harnessing AI to support their decision-making, with 91% describing it as ‘useful’.
The majority of businesses view Digital Twin technology as crucial for strategic decision-making in the next 12 months, with over half seeing it as also critically important for planning.
Businesses need excellent ‘descriptive’ and ‘diagnostic’ business analytics to help them understand what happened in the past and why. But they also require ‘predictive’ business analytics to inform them as to what might happen ahead, and ‘prescriptive’ business analytics to devise a strategy to get them to where they want to go.
- Kieran Gilmurray, CEO - Digital, Automation and Robotics Ltd
Business Process Simulation allows companies to test and analyse various scenarios in a controlled environment, process simulation can help businesses overcome their fears and embrace change. This powerful tool encourages continuous improvement and innovation, ensuring that businesses not only survive but thrive, even in the most uncertain times.
- John Hill, CEO at Silico
In the face of an increasingly difficult macro environment, businesses are becoming more risk-averse, leading to a reluctance to innovate and improve. This hesitance stifles growth and leads to stagnation. However, Business Process Simulation offers a solution to this challenge
- John Hill, CEO at Silico
AI, Digital Twins and automation have a key part to play in finding and implementing the right process changes through both creating capacity to make the improvements whilst providing the data and opportunities for change that will have the biggest return on investment for what can be a small percentage of their time.
- Ric McCormick, Experienced Transformation and Process Leader
The strong economic headwinds mean that companies must be prepared for a range of disparate impacts, affecting numerous functions within their business. They will want to revisit and focus on bottom-line improvements around efficiency and effectiveness after many years of growth.
- Dr. Philipp Fahr, Arcwide
Digital Twin technology and Business Process Simulation (BPS) can help decision makers to simulate different risk scenarios and test decisions before implementing the most successful mitigation strategies and tactics.
- Dr. Philipp Fahr, Arcwide
Businesses need excellent ‘descriptive’ and ‘diagnostic’ business analytics to help them understand what happened in the past and why. But they also require ‘predictive’ business analytics to inform them as to what might happen ahead, and ‘prescriptive’ business analytics to devise a strategy to get them to where they want to go.
- Kieran Gilmurray, CEO - Digital, Automation and Robotics Ltd
Business Process Simulation allows companies to test and analyse various scenarios in a controlled environment, process simulation can help businesses overcome their fears and embrace change. This powerful tool encourages continuous improvement and innovation, ensuring that businesses not only survive but thrive, even in the most uncertain times.-
- John Hill, CEO at Silico
In the face of an increasingly difficult macro environment, businesses are becoming more risk-averse, leading to a reluctance to innovate and improve. This hesitance stifles growth and leads to stagnation. However, Business Process Simulation offers a solution to this challenge
- John Hill, CEO at Silico
AI, Digital Twins and automation have a key part to play in finding and implementing the right process changes through both creating capacity to make the improvements whilst providing the data and opportunities for change that will have the biggest return on investment for what can be a small percentage of their time.
- Ric McCormick, Experienced Transformation and Process Leader
The strong economic headwinds mean that companies must be prepared for a range of disparate impacts, affecting numerous functions within their business. They will want to revisit and focus on bottom-line improvements around efficiency and effectiveness after many years of growth.
- Dr. Philipp Fahr, Arcwide
Digital Twin technology and Business Process Simulation (BPS) can help decision makers to simulate different risk scenarios and test decisions before implementing the most successful mitigation strategies and tactics.
- Dr. Philipp Fahr, Arcwide
Our findings show that if you are not using Digital Twin technology or AI to support decision-making and process improvement within your business, you are lagging behind your competitors.
The report shows that emerging technologies, such as AI and Digital Twin technology, are enabling businesses to get one step ahead of their competitors. 93% of respondents saw AI as very important for making strategic business decisions over the next 12 months, and over half (55%) saw AI as critical to making decisions in the same period. Meanwhile, 89% of businesses believe Digital Twin technology will be hugely important for their strategic decision-making over the next 12 months.
In conclusion, our latest report highlights the importance of emerging technologies, such as Business Process Simulation and Digital Twin technology, for businesses to remain competitive in an uncertain world. Utilising these technologies can help companies make informed decisions and improve their processes, leading to growth and innovation.
Contact us today to learn more about how we can help you create a Digital Twin of your Organisation and stay ahead of the curve.
Now more than ever, UK businesses are turning to technology to help make key business decisions, helping them to predict future issues and solve them effectively. Download the full report to see why 94% of UK Businesses trust technology to make key decisions.
