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Our Consulting approach to the adoption of AI and intelligent automation is human-centered, pragmatic, outcomes-focused and ethical.
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Since PCs were adopted in the 1980s, we have witnessed successive waves of technological transformation from the industrial age to the digital era — from the rise of the internet and early enterprise resource planning (ERP) systems, to on-premise platforms digitizing end-to-end business functions, and then cloud-based applications as software-as-a-service began to dominate. Now, agentic AI presents another inflection point, in which software is no longer a tool but an intelligent ecosystem.
At a recent EY Center for Executive Leadership event attended by approximately 30 pre-eminent technology leaders from Fortune 500 companies and leading private equity firms, participants recognized that the agentic AI revolution is the next catalyst for CIOs and other technology leaders to evaluate as they consider their IT strategy and procurement decisions. Organizations are increasingly adopting agents, prompting firms to evaluate the potential impact of a new agentic workforce on all aspects of their business. The shift to fully agent-driven services and capabilities reflects the growing trend of integrating intelligent agents into business processes, where agents provide dynamic, automated services that enhance functionality and user experience.
Rather than simply automating routine tasks, autonomous AI agents powered by specialized models can encapsulate intelligence and experience, execute decisions independently, and adapt to complex, dynamic situations to execute work traditionally considered so complex that it required human intervention. These agents are orchestrated by a vision-driven model, with smaller, task-specific models performing precise functions. Each agent brings codified knowledge to its specific role, sharing insights and outcomes while aligning with the overarching strategic vision of the organization.
According to Gartner, global IT services spending is projected to reach $2.3 trillion by 2028, with a comparable amount expected to be spent on salaries for talent leveraging the software to complete their tasks, bringing the total market to an estimated $4.3 trillion. The multi-trillion-dollar global IT services market will be significantly impacted by changes to the industry. A report from MarketsandMarkets estimated that the market for AI-based virtual agents alone is projected to grow from approximately $1.5 billion in 2020 to over $8 billion by 2025, reflecting a compound annual growth rate (CAGR) of around 30%. The shift toward agentic AI represents a profound change in enterprise operations, with the potential to disrupt this massive market and redefine the future of work.