“With AI likely to increase business productivity by more than 40%, global artificial intelligence for IT operations market is set to cross $10 billion by 2027.”- Global Market Insights Inc

As enterprises embark on their digital transformation venture, the global artificial intelligence for IT operations (AIOps) market size is demonstrating a consistent surge in consort with technological advancements across different spheres. The industry trends are being significantly driven by AI’s ability to enhance communications to increase customer engagement, provide innovation in processes, and support sales operations. 

Given the outbreak of the infamous COVID-19 pandemic, most organizations are witnessing a paradigm shift from a conventional infrastructure of separate, static physical systems to a dynamic mix of on-premises, cloud infrastructure, and other resources that scale and reconfigure constantly. This has paved the way for the implementation of AIOps across different verticals. 

What is the need for AIOps? 

AIOps make use of analytics, machine learning, and big data to support the following processes:

• Accumulate the huge and rising volumes of data generated by different IT applications, infrastructure components, and performance monitoring tools.

• Analyzing root causes and reporting them to IT for swift response and remediation.

• Simplifying IT operations, even in conditions of reduced workforce. It has been reported that 36% of executives state that their fundamental aim for deploying AI is to optimize internal business operations. 

Most companies have already set the scene for AIOps platforms for diverse purposes like monitoring, and more, while others are on a journey to establishing control in the overall space. 

In 2021, Virtana and Infinidat collaborated for introducing AIOps infrastructure management solution. The alliance would witness integration of the latter’s      Infinibix storage arrays with Virtana’s VirtualWisdom Infrastructure Performance Management platform that leverages AIOps to optimize and automate IT infrastructure management operations. 

Industry experts consider this initiative to be a nascent stage of development of AI for IT operations in the infrastructure management application space. Here is a close look up to how AIOps can come in handy for infrastructure management across different industries:

Addressing infrastructure management issues with AIOps 

Given the proliferating need for positive digital presence worldwide, IT managers often encounter challenges of managing humongous amounts of data. 

In addition to this, reliable estimates claim that companies are now spending an average $4.8 million annually to just ensure that their business is under operation, while 63% of CIOs recall controlling costs and improving efficiency to be two of their operational difficulties     . 

It thus becomes quite impossible to manually manage the increasingly complex data sets, pushing the demand for high-performance computing automation and virtualization solutions or technology. Enter advanced AIOps. 

AIOps provide an alternative to conventional infrastructure analysis and management with end-to-end visibility into IT stacks. In September 2021, Dell Technologies announced enabling artificial intelligence for IT operations (AIOps) to make it possible for enterprises to access operational information and enable autonomous infrastructure management in the cloud or on-premise.

Which is a better deployment model: on-premise or cloud?

Deployment model has a crucial role to play in any organization when it comes to implementing a specific technology, solution, or system. Two of the widely used models in any IT organization or enterprise are on-premise model and cloud model. Considering the growth scope in the AIOps market, the on-premise model is speculated to garner significant gains over 2021 to 2027. This can be attributed to its umpteen advantages over the cloud model. 

One of the major upsides of having an on-premise deployment model is its ability to deliver optimum security. Since the data is stored locally on the organizational premise, professionals have full control over it and its security. On-premises servers are not reachable to those outside the network, as these are not storing the data online, thus emerging as an apt solution. 

Analyzing the AIOps buzz across telecom and BFSI industries 

Although the craze of artificial intelligence for IT operations is observed across industries, its demand is largely felt across the telecommunication and BFSI sectors. 

• Elucidating use of AIOps across the telecommunications industry

The contemporary telecommunications enterprises are burdened with complex IT infrastructure. Communication Service Providers (CSPs) are under high pressure to reduce costs and augment the revenue. There is also the need to counter the rising competition from other digital service providers. This is where organizations are looking for a flexible and comprehensive approach for managing and monitoring networks and services they support. 

AIOps has emerged as an undisputable resource in this regard. CTOs in the telecom industry are seeking to embrace these solutions to reduce the operational costs, automate end-to-end network lifecycle management, and simultaneously drive exceptional customer experiences. 

• 4 Ways AIOps can bolster the competitive advantage in BFSI sector

The BFSI industry is seeing robust transformation and a fierce competition from digital native players, rising customer expectations, increasing cybersecurity threats, and stringent compliance protocols, even amidst the COVID-19 pandemic outbreak. This has left companies operating in this sphere to come up with new and innovative ways of improving operational efficiency, delivering exceptional customer experience, and reducing errors and downtime. AIOps is the best resort for these needs. 

Enlisted are four ways in which AIOps solutions can turn out to be profitable for the BFSI industry:

1. Solving financial problems autonomously 

2. Maximizing transaction success in one-time 

3. Detecting and isolating security concerns and performing root-cause analysis

4. Automating regulatory compliance 

AIOps are here to stay for a long, long time. They already have an incredible impact on IT infrastructure management and have been supporting organizations to increase their operational efficiency. The industry undeniably will depict considerable expansion in the years ahead.

A qualified Engineering graduate, Vinisha Joshi takes pride in playing with words. Presently, she pens insightful articles on business, core industry, technology, and the like. Creativity comes naturally to her, and Joshi makes sure to effectively combine the same with her technical expertise in the articles she writes.