What’s Happening Around?
Aristotle, a philosopher in Ancient Greece, said that “the whole is greater than the sum of its parts”. This philosophy seems to happen around lately in our tech world. Businesses who thought that they have reached their limit to get ‘digitally transformed’, are undergoing a major technology shift again, which is driven by the collaboration of two transformative technologies: Robotic Process Automation (RPA) and Artificial Intelligence (AI).
Intelligent Automation
This dynamic duo of “Intelligent Automation” is fostering a digital environment where businesses first get organized by automating their repetitive tasks and then orchestrate an intelligent ecosystem that redefines their overall efficiency, innovation, and way of running business operations. For example, Deloitte, a renown giant in the finance industry, recently implemented RPA and used software bots, particularly assigned to automate their task of creating monthly management reports.
How it Works!
RPA is a software technology so it can be programmed to work like a robot and become able to perform your internal tasks for you, on a computer obviously but just like your human employees do. It’s pretty good at doing things over and over again, following rules perfectly even without taking a single break in 365 days if you want it to. It can do stuff like entering data, filling out forms, making reports, and other boring jobs that usually take up a lot of time of employees and become the source of a limit to their growth.
AI, on the other hand, is something different but works just fine with automation. It can think and learn like humans do. It learns from historical data and events that have been happening around, understands language and images, and performs other smart tasks to make a lot of complicated tasks easier to get done with.
Hyper Automation
The synergy born from their fusion is what we call hyper automation. RPA operates as an active assistant, executing predefined tasks, while AI acts as the insightful partner, that is continuously analyzing your data, making intelligent decisions from it, and dynamically adjusting the automation process to your best possible productivity level.
How Does It Benefit?
- Triple Efficiency Effect: Hyper automation boosts productivity exponentially by streamlining processes and eliminating errors. Businesses can achieve faster turnaround times, lower operational costs, and deliver customer experiences like never before.
- Enhanced Decision-Making: AI empowers organizations with data-driven insights, which allows them to make informed choices, predict market trends, and optimize their resource allocation. According to Deloitte, “Executives estimate intelligent automation will provide an average cost reduction of 22%,”
- Continuous Innovation: Freed from mundane tasks with the help of RPA, employees can focus on innovation, developing new ideas, exploring creative solutions, and pushing the boundaries of what’s possible.
- Industry-Specific Transformations: From healthcare to finance, manufacturing to logistics, hyper automation caters to unique industry needs. Robots in factories perform intricate tasks, AI-powered chatbots provide personalized customer service, and intelligent algorithms optimize logistics networks.
Industries Adopting Hyper Automation
- Healthcare: AI analyzes medical images, RPA automates administrative tasks, and chatbots answer patient queries, creating a more efficient and patient-centric healthcare system.
- Finance: Robo-advisors provide personalized investment advice, AI flags fraudulent transactions, and RPA automates loan processing, and many other mundane tasks, streamlining the financial operations system.
- Manufacturing: Smart robots collaborate with human workers on assembly lines, AI optimizes production schedules, and predictive maintenance minimizes downtime.
What To Consider Before Adoption?
This transformative journey requires careful consideration as well. Here are some successfully implementing hyper automation necessitates:
- Strategic Planning: Identifying the most impactful processes for automation and carefully aligning technology with business goals.
- Data Governance: Ensuring data quality and security is paramount for AI’s effectiveness and overall system integrity.
- Collaboration: Fostering a culture of collaboration between humans and AI, emphasizing human oversight and leveraging AI’s capabilities for augmentation, not replacement.
- Ethical Considerations: Addressing potential biases and ensuring responsible development and deployment of AI are crucial for building trust and ensuring ethical adoption.
Conclusion
Through the strategic utilization of Robotic Process Automation (RPA) and Artificial Intelligence (AI), enterprises stand to access limitless opportunities of operational efficiency, pioneering advancements, and market viability of their business. The trajectory of success lies in the hands of those who embrace the synergy between human and intelligent automation, conducted by the next gen automation.
