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The Future of ITSM: How AI, Automation, and Blockchain Will Change the Game

Manish Rathi

Manish Rathi

Last updated 22/04/2024


The Future of ITSM: How AI, Automation, and Blockchain Will Change the Game

Artificial Intelligence, Automation, and Blockchain are set to change the game in Information Technology Service Management. AI and automation have string automation that brings different benefits to ITSM, which include faster ticket resolution, better management and effective use of assets, enhanced consumer experience, and streamlined operations.

Blockchain technology can generate a decentralized financial system that is secure, transparent, and tamper-proof, resulting in new financial products and services that are faster, cheaper, and more accessible to everyone.

Today, we will look out for how AI, automation, and blockchain will change the game, such as how they will contribute to ITSM, support businesses' success, etc. The convergence of AI and Blockchain is set to redefine the tech industry. To get to know the reason why it is in demand make sure to check Why IT Asset Management Important?

What is the Future of Artificial Intelligence, and how will it contribute?

Artificial Intelligence uses computers, data, and sometimes machines to mimic the problem-solving and decision-making capabilities of the human mind. Artificial Intelligence encompasses the sub-fields of ML and deep learning, which uses AI algorithms trained on data to make predictions and classifications.

AI's advantages include automating repeated tasks, enhanced decision-making, and better consumer experience. AI is all set to revolutionize ITSM by enhancing efficiency, reducing costs, and improving consumer experience through different methods. You will get all these details through Artificial Intelligence Certification Training and Program. The following are the other methods:

  • Automated ticket classification:AI algorithms can quickly classify and arrange tickets based on past data. It will also contribute to managing faster response time and more accurate triaging.
  • Predictive Analysis:It also has the potential to forecast future requirements and anticipate issues, enabling IT departments to proactively address the problems rather than reactively managing them.
  • Contextual Awareness:Artificial Intelligence successfully understands the natural language and context. It also provides more precise and helpful responses to end users.

Besides this, AI has a massive influence over technology because of its impact on computing. With the help of this, computers have the potential to harness the enormous amount of data and make use of their learned Intelligence to make optimal decisions today. AI is used in every sector, including transportation, manufacturing, healthcare, education, consumer services, media, etc.

As per Statista, the market size in the Artificial Intelligence market is projected to reach about US $305.90 Billion in 2024. The size is now expected to showcase the annual growth rate of 15.83%, which leads to a market volume of US $738.80 by 2030.

When it comes to the global comparison, the biggest market size will be in the United States is $106.50 Billion in 2024. Through our Artificial Intelligence Certification Program you will be able to get updated knowledge and skills of AI which will help you to stay updated in it. 

How Blockchain is Evolving?

As per the Gartner, by 2026 the business value will be added through blockchain and will increase to over $360 billion. Then, by 2023 it will increase to more than $3.1 trillion. With the latest trends, blockchain is predicted to make a big revolution in the coming decades.

The upcoming trends in Blockchain include the cybersecurity, government, finance and banking, medical, and marketing sectors where it will contribute significantly. To get to know more you can check the Blockchain Professional Certification Training Course.

The integration of Blockchain with ITSM has the potential to bring the secure control of documents and even of contract execution, providing as the notary or third party referee’s function, ensuring that each step of document generation, contract signing, and delivery of products takes place securely and verifiably.

Also, the convergence of Blockchain and AI is set to redefine the tech industry with the potential for widespread adoption and development in different industries. Blockchain Professional Certification Training Course will validate you with the latest skills and knowledge.

According to Statista, the worldwide blockchain technology industry is predicted to develop rapidly in the next few years, reaching a valuation of over 39 billion dollars by 2025. Approximately 30% of the market value of blockchain technology is centered in the banking industry, which has been among the first to invest in the technology.
Because it is a distributed ledger that is resistant to tampering, the technology may be applied to a wide range of commercial endeavors. As of 2018, safe information sharing was one of the most prevalent use cases for blockchain in enterprises. The most popular crypto-currencies in the world were created on the platform, demonstrating the technology's tremendous potential in the area of digital money and payments. Beside this, blockchain also contributes in other industries, for this make sure to check Blockchain Technology: The front liner against climate change.

Trends We Can Anticipate for ITSM Automation in the Future

To enhance IT service management and support, the future of ITSM automation might include Generative AI practices and Machine Learning capabilities, improved integration with other business processes, and a concentration on data-driven decision-making. 

It also has strong potential for professionals, like speeding up issue resolution, reducing response times, and providing self-service choices that let users solve their communal issues. This significantly improves the support and professionals' experiences to the next level.

AI and automation will drive the future together. It will change the NLP as it involves teaching machines to understand and interpret human language. It will enable them to perform sentiment analysis tasks, language translation, and voice recognition. It also includes the different potentials from enhancing consumer service to supporting business analysts with a wide range of unstructured data. 

The future of automation will concentrate on marketing, sales, and success orientation, where automation is crucial for businesses, AI, and other technological practices.

What will be the future of ITSM?

The future of ITSM will be differentiated with the help of different key developments that aim to improve efficiency, consumer satisfaction, and all service quality. Following are the important trends and influences shaping the evaluation of ITSM contains the following factors:

It is important to create a culture where continuous learning, enhancement, and incorporation of frameworks such as ITIL4 as well as agile methods. Also, you should move towards platform-based services and management, it will enable real-time monitoring, automation, and data-driven decision-making.  With the help of promoting and maintaining collaboration among the IT groups, users and stakeholders will be beneficial. Also check ITSM vs ITIL: Understanding the Key Differences.

More Practical Enterprise Service Management Strategies: Enterprise Service Management received high traction but many more factors remain for growth. Some businesses are looking to extend service management beyond IT and into other business functions.

Continued Automation and AI Adoption: Automation and AI are the fundamental concepts in ITSM but their adoption continues to grow. ML, NLP and AI solutions like ChatGPT are providing new opportunities for enhancement. No matter if its traditional automation and Intelligent Automation their increased adoption is important to gain the operations and outcomes. It comes intending to improve service experiences and increase competitive advantage via technology.

The recent survey of Dec 2023 showcases that the revenue of IT Services is projected to reach US $1,364.00 Billion in 2024. The Revenue is also expected to showcase the annual growth rate of 6.75% which leads to a market volume of US $1,771.00 Billion by 2028.  Through the following graph you will understand the statistics.

ITSM will expand beyond IT departments and extend its principles and services to other business functions. This shift towards Enterprise Service Management will lead ESMs involved in applying ITSM frameworks, tools, and methodologies to areas like HR, finance, facilities, and customer service. It will also promote standardized processes, improved collaboration, and enhanced service delivery across the business.  

The year 2024 promises to be a transformative year for ITSM. Businesses must embrace these factors to drive positive change and improve user experiences. They must be tailored to drive positive change, improve user experiences, and align with sustainability goals. As we enter the New Year, staying updated with these trends will be crucial to success in the ever-evolving ITSM landscape. Along with this ITSM Foundation Certification Program, you will be able to understand how Information Technology Service Management works.

Conclusion

Through the above details it can be easily understood that the future of ITSM is intricately entangled with the revolutionary advancements in Artificial Intelligence, Automation and Blockchain. The future of AI and other technologies holds the new era of ITSM which promises quicker resolution times, improved decision making and unprecedented levels of operations, transparency and security.

The statistics used in the above blog showcase the exponential growth anticipated in AI, automation and blockchain industries that shift towards a more intelligent, efficient and secure IT service management ecosystem.  The future of ITSM holds the seamless integration of these technologies driving efficiencies, improving security and delivering unparalleled value to industries and end-users.

Through ITSM Foundation Certification Program you will be able to stay updated with the latest practices, technologies, and skills which will help you in your professional career.

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About Author

Manish has more than 13 yrs of experience in IT Industry and has worked as ITIL Head with expertise in the areas like Enterprise IT Transformation, ITSM, SIAM, Blockchain.

 
 

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