RPA technology is revolutionizing the way businesses think and work, bringing about a disruptive transformation across industries. Enterprises today are transitioning from RPA to cognitive automation, accelerating digital transformation.
As we are aware, RPA solutions refer to the automation of routine tasks that follow a set of pre-defined instructions — from data extraction to performing calculations. But with enterprises generating a massive volume of structured and unstructured data, businesses need to go beyond just automating repetitive tasks. The need for leveraging machine learning to derive insights from real-time data, augmenting decision-making capabilities is increasing.
What is Intelligent Automation?
According to a report by a research firm, it’s the “Application of intelligent automation technologies for process automations”. In other words, it’s the combination of groundbreaking technologies such as RPA and AI to enable end-to-end automation.
It comprises five technologies — RPA, smart workflow, Machine Learning, NLG or Natural-language generation tools, and cognitive technologies to help sense and synthesize massive amounts of data, thereby automating entire processes enterprise-wide.
According to a report, global spending on cognitive and AI systems is expected to reach $57.6 billion in 2021. Here are a few benefits of IA that are changing the face of nearly every industry forever.
Helps leaders make better decisions
The most amazing benefit of IA is that it can assist leaders in making complex business decisions faster than ever. From collecting information to analyzing unstructured data, making decisions is now as easy as pie. Streamlining decision-making is what most businesses aim for with Intelligent Automation making this a possibility.
For instance, IA tools help process complex information from unstructured text or images in healthcare institutions, providing real-time insights, enabling doctors and clinicians to make better-informed decisions about patients’ care. Deep learning and cognitive technologies help bots to mimic human interactions, thus learning over time, in turn, enhancing decision-making skills. The additional insights help leaders to not only stay informed but also stay ahead of the competition.
Enhances customer journey experiences
Intelligent Process Automation impacts end-to-end processes, redesigning customer journeys in ways never imagined previously. Engaging with customers at low costs is possible with IPA. Propelling CX or Customer Experience is what enterprises aim for. With AI technologies, analyzing and responding to customer queries is easy. Delayed customer turnaround time and lengthy resolution times lead to low customer satisfaction. Moreover, with a high volume of support requests across customer-facing industries, adopting Intelligent Automation is proves beneficial.
Achieves data accuracy
Accelerating accuracy and speed with Robotic Process Automation software in business processes is another advantage. These tools can help eliminate manual errors and improve data accuracy, which in turn helps in decision-making.
Most businesses today are overwhelmed with the humongous volume of data that is coming in. Robotic Process Automation, along with cognitive computing, can help improve data accuracy, thereby streamlining overall processes and workflows.
Improves productivity of your staff
As RPA tools take over repetitive tasks, it frees up the human worker to focus on higher-value work. This also leads to a reduction in errors and manual intervention in processes. Enterprises are also prepared for the new digital workforce that is poised to bring about disruptive transformation. Focusing on high-impact tasks helps individuals to not only work on valuable assignments but also drives the organization to greater heights.
In short, we can say that enterprises across industries are leveraging RPA and IA tools to drive efficiency, enhance customer service, improve productivity, and increase revenue. Building the next generation of operating models gears up enterprises to be future-ready. The combination of artificial intelligence and automation will change enterprises for generations to come, and no one wants to be left behind.
Intelligent technologies have come a long way, holding great promise for industries across retail, manufacturing, healthcare, banking, and insurance. It has also led to the rise of the digital workforce, which helps save time and money, improving business processes significantly.
No longer buzz words, Robotic Process Automation, Intelligent Automation, and AI are uncovering endless opportunities for businesses that were not possible before. Have you adopted cognitive automation yet?