In 2019, the low-code market was estimated to be $10.3 billion. In 10 years from now, it is expected to grow 17x to worth $187 billion. With the low code revolution well underway, it’s time to get on board.
IterateOn’s event, Low Code Revolution, focused on the recent resurgence of the low code market, the advantages of low code, and how to best utilize it in your organization.
Brian Sathianathan, Iterate’s Chief Digital Officer, Chief Technology Officer, and Co-Founder of the company, led the presentation and facilitated the discussion. He was joined by Iterate’s John Selvadurai, Director of Innovation on the Applied Artificial Intelligence team, and Shomron Jacob, Engineering Manager of Applied Machine Learning and Platform. The event consisted of a thoughtful presentation surrounding low code followed by a discussion with Selvadurai and Jacob.
Let’s recap the highlights of the presentation and the discussion:
What is Low Code?
Low code is, on an abstract level, a different paradigm of thinking. As humans, we write. Another form of expression is drawing. Writing corresponds to verbal creation, whereas drawing corresponds to visual. Though traditional coding is centered around verbal creation, low code is a visual expression paradigm.
To put it in simpler terms, low code is a recently revolutionized way of coding, where the creator can use pre-made components. These components can be dragged and dropped, then connected to one another. Using this system, creators can begin building applications. There is also the opportunity to write custom code within the low code system as well.
Though low code has been around for a while, there was a period of time when it was not used. However, the need is back again and is growing fast as the need for digital is rapidly rising. With the low code system, people who are not formally trained in coding can still create. If correctly utilized, this will be a game changer for many organizations.
Why is it Useful?
There are three major reasons organizations need to begin using low code on a common basis.
Beyond these three major components, low code is growing across every industry. You can use it in HR, legal, marketing, customer support, and so on and so forth. To provide a real-life example of low code’s use, check out our story about frictionless fueling here.
Where are you using low code? What benefits are you seeing by using low code?
To answer these questions, Selvadurai immediately mentioned the importance of speed and reusability. In companies, there are many large systems functioning, and they may not all be interconnected. It takes time to get things done. With low code, the first application to deploy could be ready in a month compared to eight months in a traditional way. Once that application is done, up to 80% of the components are reusable for the next application, so it just keeps getting uicker. Jacob agreed with Selvadurai’s notes, adding in that low code can be especially helpful when an organization is trying to build something from scratch. Then when it is built, it can be repurposed and reused time and time again.
We hope that this event helped to disclose the importance of low code and inspire you to try it out in your own organization.
We would love to see you at our next IterateOn event. Each event is an opportunity to open up dialogue and learn from experts on a variety of contemporary and future-forward topics. Sign up by emailing [email protected], tracking us on Twitter @IterateAI, or check out our full calendar of upcoming events at https://www.iterate.ai/events.
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