SAN MATEO, Calif., Sept. 26, 2023 (GLOBE NEWSWIRE) -- Freshworks Inc.
(https://www.freshworks.com/?utm_source=usa&utm_medium=pressrelease&utm_campaign
=pr2023sep) (NASDAQ: FRSH) today released the findings of its second annual
"State of Workplace Technology" report, which found a 71% increase in the number
of software applications on IT teams' work computers over the last year(1). To
manage this spiraling complexity, the report found that IT pros-especially
senior leaders and younger generations-are embracing AI to automate workflows
and boost efficiency with 86% of IT pros reporting that their organizations are
already using AI.
AI is poised to save companies time and money
While IT departments are expected to grow (https://us-west-
2.protection.sophos.com/?d=gartner.com&u=aHR0cHM6Ly93d3cuZ2FydG5lci5jb20vZW4vbmV
3c3Jvb20vcHJlc3MtcmVsZWFzZXMvMjAyMy0wNi0yNi1nYXJ0bmVyLXN1cnZleS1maW5kcy04MS1wZXJ
jZW50LW9mLWNpb3MtZXhwZWN0LXRvLWdyb3ctdGhlaXItaXQtdGVhbS1pbi0yMDIz&i=NjI3NDI3NTVl
ZWVlMDkxMmM5MGE2OTI5&t=SkJLMVZtT2lLK29qNWwvMmM0dVdRL1FRYVpkWTNwUml1d2g4NWhjaDBMN
D0=&h=057eac5075e8433588719cbf775b890c&s=AVNPUEhUT0NFTkNSWVBUSVYZyIXMaDP2-Uk-
JqpZKrai3bC73tEdxgBS4o-yzUny1w) this year(2), it doesn't mean they need to spend
more. Freshworks found (https://www.freshworks.com/can-ai-address-it-bloat-
blog/?utm_source=usa&utm_medium=pressrelease&utm_campaign=pr2023sep) that
companies in the U.S. could save over $15,000 per IT employee each year using AI
to eliminate time wasted on repetitive tasks. This means that an enterprise-
sized company with at least 5,000 employees and an average of 200 IT
professionals on staff could save at least $3 million annually using AI. The
survey also revealed:
* IT professionals are managing more software than ever and see an opportunity to simplify. The number of software applications on IT teams' work computers

    increased 71% over the last year. Despite this, IT professionals only use
    one-third of the applications available to them daily (just eight out of
    24), compared to half in 2022.
  * IT teams put efficiency first. They rank ease of use and efficiency as top
    attributes of business software, ahead of feature suite, reliability and
    cost-effectiveness.
  * AI eliminates repetitive tasks. IT pros agree AI frees up time otherwise
    spent on repetitive tasks (49%) and allows them to do more complex,
    meaningful work (45%). Moreover, IT pros estimate they could save more than
    five hours per week by using AI to complete repetitive tasks.

"I've had a front-row seat to the mobile and cloud revolutions, and witnessed
how both delivered powerful efficiencies that enabled IT teams to improve
performance-without expanding costs," said Dennis Woodside, Freshworks
president. "We're already seeing customers like Smartsheet and Sony Music
Entertainment who plan to harness AI to substantially improve employee service,
while saving on costs from legacy software accrued over time."
Senior IT leaders are bought into AI
Directors and above report higher use and organizational support for AI. Notable
findings include:

  * AI use is generally encouraged at work. Seven in ten (70%) IT directors and
    above say that use of AI is actively encouraged by their company, compared
    to 44% of team leads/managers and 21% of individual contributors.
  * IT leaders are leading the way to adopt AI. More than nine in ten (91%) IT
    directors and above currently use AI to support their workload, compared to
    66% of team leads/managers and 33% of individual contributors.

* There's a youth AI movement. Newer generations are playing a pivotal role in

    AI adoption. Eight in ten (81%) of Millennial and 75% of Gen Z IT pros
    currently use AI to support their workload, compared to 57% of Gen X and
    27% of Boomers.

"Business leaders adopt software for good reasons-to improve operations-but over
time may face an unintended consequence of accruing more applications than they
need," said Prasad Ramakrishnan, CIO at Freshworks. "Smart, simplified
technology, paired with the power of AI, will do more to drive productivity and
efficiency than legacy software has done in decades. IT leaders who embrace
automation and technological agility to reduce complexity will be the ones whose
teams come out ahead."
See the "State of Workplace Technology" report in full here
(https://www.freshworks.com/resources/workplace-
tech/?utm_source=usa&utm_medium=pressrelease&utm_campaign=pr2023sep). To learn
more about Freshservice for AI-first IT Service Management, visit freshworks.com
(https://www.freshworks.com/freshservice/freddy-ai-for-
service/?utm_source=usa&utm_medium=pressrelease&utm_campaign=pr2023sep).
Methodology
Freshworks conducted this research using an online survey prepared by Method
Research (https://www.methodcommunications.com/methodresearch/) and distributed
by RepData (https://repdatallc.com) among n=2,000 adults ages 18+ that work full
time as IT professionals, with n=500 U.S., n=500 U.K., n=100 the Netherlands,
and n=150 in each of the following six countries: Germany, France, Singapore,
Australia/NZ, India, and the United Arab Emirates. The sample was balanced by
gender, age, and company size, with an internationally representative geographic
spread of respondents. Data was collected from April 27 to May 17, 2023.
Time savings using AI in the U.S. was calculated by taking the median salary of
computer and IT pros in the U.S. ($100,530 per U.S. BLS Data, May 2022
(https://us-west-
2.protection.sophos.com/?d=bls.gov&u=aHR0cHM6Ly93d3cuYmxzLmdvdi9vb2gvY29tcHV0ZXI
tYW5kLWluZm9ybWF0aW9uLXRlY2hub2xvZ3kvaG9tZS5odG0jOn46dGV4dD1UaGUlMjBtZWRpYW4lMjB
hbm51YWwlMjB3YWdlJTIwZm9yLGZvciUyMGFsbCUyMG9jY3VwYXRpb25zJTIwb2YlMjAlMjQ0MSUyQzk
1MA==&i=NjI3NDI3MmZlZWVlMDkxMmM5MGE2NzU1&t=T3E3Z28yQlJDZnVvNjlrVXVBcytRTkVlMm9HK
2V4L3JJZUcwNEFhMVRtST0=&h=1e8faef5ce89466d95d09a211d34304d&s=AVNPUEhUT0NFTkNSWVB
USVbXBdao2fYfoCCnfqy5e-ywzyVadQh9SLNSFy9gVPt5DZtXMiO6JGjKJXHERSlQxEM)) and
calculating an hourly rate. Using the hourly rate, a per-worker annual cost was
found by multiplying it by the annual amount of hours in the U.S. workers said
they could save by using AI to complete repetitive tasks. Then, by multiplying
by the amount of U.S. IT workers an enterprise-sized company has on average
(Workforce survey (https://workforce.com/news/ratio-of-it-staff-to-employees)),
it gives a final value of $3.1M annual costs with a minimum of 200 IT employees.
About Freshworks
Freshworks Inc. (NASDAQ: FRSH) creates business software anyone can use.
Purpose-built for IT, customer support, and sales and marketing teams, our AI-
boosted products are designed to let everyone work more efficiently and deliver
more value for immediate business impact. Headquartered in San Mateo,
California, Freshworks operates around the world to serve more than 65,000
customers, including American Express, Blue Nile, Bridgestone, Databricks, Fila,
Klarna, and OfficeMax. For the freshest company news visit www.freshworks.com
(https://www.freshworks.com/?utm_source=usa&utm_medium=pressrelease&utm_campaign
=pr2023sep) and follow us on Facebook (https://www.facebook.com/FreshworksInc/),
LinkedIn (https://www.linkedin.com/company/freshworks-inc/), and Twitter
(https://twitter.com/FreshworksInc).
© 2023 Freshworks Inc. All Rights Reserved. Freshworks and its associated logo
is a trademark of Freshworks Inc. All other company, brand and product names may
be trademarks or registered trademarks of their respective companies. Nothing in
this press release should be construed to the contrary, or as an approval,
endorsement or sponsorship by any third party of Freshworks Inc. or any aspect
of this press release.
Media Contact:
Erika Howard
pr@freshworks.com (mailto:pr@freshworks.com)
____________________((
1))An increase from 14 different applications in 2022 to 24 in 2023.
((2))Gartner Press Release, Gartner Survey Finds 81% of CIOs Expect to Grow
Their IT Team in 2023, June 27, 2023.
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