Imagine calling your bank with a complex query about international investments. Instead of navigating frustrating menus or waiting on hold, you're immediately connected to Sarah, a highly knowledgeable financial advisor. Sarah patiently explains intricate market trends, offers personalised investment strategies and even initiates the paperwork for your chosen plan. Her expertise seems encyclopaedic, her patience infinite. Only as the call concludes, you realise that Sarah isn't human, she's an AI agent, capable of handling thousands of similar interactions simultaneously, each tailored to the individual customer's needs and preferences.
This isn't science fiction or a far-off future scenario, and companies like Swedish fintec Klarna are already doing it. It's the next big step in AI development: Agentic AI. Organisations leveraging this technology aren't just automating tasks, they're fundamentally reimagining how businesses operate, decisions are made and value’s created. Welcome to the agentic future, a world where AI doesn't just assist, but actively participates in shaping our work and businesses
Curious about the dos and don’ts when starting with agents, check out at our previous blogposts.
Curious to see this revolutionary technology in action? Register for our upcoming webinar, where we'll demonstrate a live version of this AI-powered financial advisor.
The quest to streamline operations and reduce manual labour has been a constant in business evolution. From simple macros and scripts to sophisticated robotic process automation, we've continuously found ways to lighten our workload. However, the emergence of AI agents marks a pivotal moment in this journey, representing not just an incremental improvement, but a revolutionary leap in how we approach automation.
At its core, an AI agent is an artificial intelligence system with the ability to interact with and manipulate its environment through tools, whether digital or physical. What sets agents apart is their capacity to operate autonomously on behalf of users or organisations, tackling complex tasks with a level of intelligence and adaptability previously unseen in automated systems.
In our banking scenario, this translates into a tool that not only processes transactions, but also monitors market trends, adjusts investment strategies and reaches out to clients with personalised advice – all while continuously learning and improving its performance.
The key difference lies in the agent's ability to not just follow instructions or process data, but to understand, decide and act in ways that can handle the complexity and unpredictability of real-world scenarios. This makes AI agents powerful allies in tackling challenges that were previously too nuanced for automated systems to handle effectively.
At PwC, we believe that AI goes beyond just developing a first proof of concept. It's about achieving economic impact and tangible returns. Our experience shows that organisations that excel with AI adopt a strategic, phased approach:
Thanks to their autonomy, adaptability, complex reasoning and proactive engagement capabilities, AI agents have the potential to automate numerous business processes. Reminiscent of Moore's Law in microchip development, recent observations tend to indicate that the length of tasks achievable by AI is doubling approximately every seven months. This rapid progression underscores the transformative potential of AI in various industries. According to a study by METR, within five years, we’ll see AI agents that can independently complete a large portion of software tasks that currently take humans days or weeks, hinting at the immense potential of AI for businesses.
Among the high-ROI business domains for AI agents are software development with automated coding and vulnerability detection, customer service with increased efficiency and hyper-personalisation, finance and accounting with the automation of invoicing and procurement with better collection and analysis of market intelligence.
A manufacturing client faced challenges in managing PET purchasing, struggling with price volatility and inefficient procurement processes. To address this, an AI agent was implemented to revolutionise the firm’s approach. The system autonomously gathered and analysed market intelligence from various sources, using advanced machine learning to predict price movements and develop procurement strategies.
The results were significant: A 15% reduction in category managers' routine tasks, giving them more time for strategic work. The AI agent, combined with PwC's expertise, identified innovative sourcing tactics based on real-time market conditions. This enabled procurement managers to make more informed decisions, negotiate better deals and optimise strategies for plastics purchasing. Ultimately, the AI-driven approach not only improved operational efficiency, but also enhanced the company's ability to navigate the volatile PET market, leading to cost savings and improved supply chain resilience.
While much of the current focus and use cases are on “digital” AI agents, the next frontier lies in the realm of "World AI" or "Physical AI." This involves combining advanced AI agents with robotics to create entities with sophisticated cognitive abilities that can interact with and manipulate the physical world. Imagine autonomous robots in manufacturing that not only perform tasks, but can adapt to new product designs, troubleshoot issues, etc. Or AI-powered drones that can navigate complex environments, perform intricate tasks and make real-time decisions based on their surroundings. The fusion of AI agents with physical capabilities represents a paradigm shift in fields such as manufacturing, logistics, healthcare and exploration, creating possibilities for automation and innovation that were previously confined to the realm of science fiction.
As the potential of AI agents becomes increasingly apparent, organisations are poised for a revolutionary transformation. Much like how the advent of the internet reshaped business models and operations in the late 20th Century, an "agent-first" approach represents a fundamental shift in how organisations operate, design processes and create value.
This new paradigm puts AI agents at the core of business operations, not just as mere tools, but as active participants in decision making, problem solving and innovation. The impact of this shift will be profound and far-reaching, reshaping the very fabric of organisational structures and processes. In an agent-first organisation.
This paradigm shift will ripple through every aspect of organisational life, fundamentally altering how businesses operate. To remain competitive in this AI-first era, organisations will have to take a proactive, strategic approach:
Workflow redesign: Processes are reimagined from the ground up to leverage AI capabilities, often resulting in more streamlined, efficient operations.
Skill shift: The human workforce focuses more on high-level strategy, creativity and emotional intelligence, while AI handles routine tasks and complex analyses.
Data-centric culture: Organisations become even more data-driven, with AI agents continuously collecting, analysing and acting on vast amounts of information.
Ethical considerations: New frameworks are needed to address the ethical implications of AI decision making and make sure agent technologies are used responsibly.
Technology infrastructure: IT systems evolve to support the integration and operation of AI agents across all business functions.
The agent-first paradigm represents a transformative approach in which organisations don't just use AI, they’re reshaped by it, becoming more adaptive, efficient and capable of innovation at unprecedented scales.
The agentic future isn't a distant concept, it's unfolding now, reshaping organisations and industries at an unprecedented pace. However, transitioning to an agent-first model won't happen overnight. It’ll require careful planning, significant investment and a willingness to embrace transformative change. Organisations that successfully navigate this shift will find themselves at the forefront of a new era of business - one where the boundaries between human and artificial intelligence blur, creating entities that are more than the sum of their parts. The future is agentic and it's waiting for you to step in and help define it. Are you ready to lead the charge into this bold new world?
Join our webinar and stay tuned for the follow-up blog post to learn how to prepare your organisation for the agentic era.
Partner Technology Consulting & Innovation, PwC Belgium
Tel: +32 495 59 08 40