Unable to list applications from Azure Active Directory using Powershell in Azure Automation Account

I have created an Automation Account runbook with Powershell 5.1 . I have a service principal with the following permissions linked to it using a connection called "local"

My code is as follows :

    $connection = Get-AutomationConnection -Name "local"
    try {
    Write-Output 'Connecting to services'
    Connect-AzureAD -TenantId $connection.TenantID -ApplicationId $connection.ApplicationID -CertificateThumbprint $connection.CertificateThumbprint | Out-null
}
catch {
    Write-Error -Message $_.Exception.Message
    Disconnect-AzureAD | Out-null
    Break
}

Write-Output "Connect process done"
# Function
try {
    Write-Output 'List all apps'
    $list = Get-AzureADApplication -All $true
 $true
    Write-Output $list
}
Catch {
    Write-Error -Message $_.Exception.Message
    Disconnect-AzureAD
}

When I run the code I am getting the following error :

Error occurred while executing GetApplications Code: Authorization_RequestDenied Message: Insufficient privileges to complete the operation. GMT HttpStatusCode: Forbidden HttpStatusDescription: Forbidden HttpResponseStatus: Completed + CategoryInfo : NotSpecified: (:) [Write-Error], WriteErrorException + FullyQualifiedErrorId : Microsoft.PowerShell.Commands.WriteErrorException

I am not sure why my permission is not working, how do I resolve this ?

Edit: I granted the service principal Directory Read permission but I am getting a new error. Permissions:

Error:

Error occurred while executing GetApplications Code: Authorization_RequestDenied Message: Insufficient privileges to complete the operation. HttpStatusCode: Forbidden HttpStatusDescription: Forbidden HttpResponseStatus: Completed + CategoryInfo : NotSpecified: (:) [Write-Error], WriteErrorException + FullyQualifiedErrorId : Microsoft.PowerShell.Commands.WriteErrorException

Unable to list applications from Azure Active Directory using PowerShell in Azure Automation Account.

When I attempted to run the PowerShell script in Automation account with the 'Application.Read.All' permission, I encountered the same error

Import-Module AzureADPreview
Connect-AzureAD -TenantId "TenantId" -ApplicationId "Application-ID" -CertificateThumbprint "849EAFE0fhgjgjgjgggg7340B789221D0E"
$list = Get-AzureADApplication
$list.DisplayName
 

Response:

To resolve the issue, I assigned the Azure AD role of Directory Readers to my Service Principal and ran the Automation account, expecting the desired result.

Directory Readers

Assigned Directory Readers role to Service Principal

Once I assigned the role to my service principal, I got the expected result

Reference: Azure AD Graph Retirement and Powershell Module Deprecation