Just like electricity transformed almost everything 100 years ago, today we actually have a hard time thinking of an industry that Artificial Intelligence or RPA will not transform in the next several years.
The best example of this is Intelligent Automation. Intelligent Automation is the amalgamation of two exciting technologies — Artificial Intelligence and Robotic Process Automation, to create a huge growth potential leading to cost savings for businesses. In fact, some of the world’s largest companies are investing in AI tech, with estimates up to $12.4 billion a year.
Smart algorithms, sturdy hardware, and more capable programs contribute to discovering technologies of the future. This leads to the effective quickening of technological growth with each discovery. AI and RPA technologies possess the capability to dramatically improve business operations in industries ranging from pharmaceuticals and healthcare to consumer goods and energy.
AI & RPA: Basics & Innovative Functions
AI is not an army of robots rebelling against humanity. The concept of Artificial Intelligence, as we know, is based on the idea of building machines capable of thinking, acting, portraying creativity and learning like humans.
This technology has already impacted human lives to a massive extent that is able to personalize communication and simplify the complicated day to day activities. Most businesses have started adopting AI to increase output while totally eliminating human error.
RPA is designed to reduce the massive burden of complex, repetitive tasks. It simplifies the direct human efforts by performing these complicated, regular operations at businesses and automating the completion of those tasks.
With similar goals of increased output and reduced human efforts, it is clear to see how RPA and AI are merging so fast. These days, more and more businesses have started using RPA processes based on AI technologies.
The Secret to Intelligent Automation & How It Is Benefiting Different Sectors
Records state that, while both AI and RPA are capable of functioning on their own, together they can form a great combination that can be helpful in multiple business applications and can end up altering businesses.
Like we know that RPA can help handle multiple business processes, the introduction of AI is the next step into a more holistic and inventive approach to workflow management.
Right from collecting, analyzing, and making decisions about textual information to guiding autonomous vehicles and advanced robots. Intelligent automation systems sense and incorporate humongous amounts of information and can automate entire processes or workflows, learning and adapting as they go.
Plenty of sectors, such as manufacturing and agriculture, face a shortage of workers. With an aging workforce, fewer workers are able to perform physically laborious tasks. In some industries, the cost and scarcity of labor and man force have expanded to the point where investments in automation make economic sense and have turned out to become a dire necessity.
Chatbots have been witnessing exponential growth in the customer service space. Recently, Todd Lohr, Technology Enablement and Automation Principal at KPMG explained that chatbots are ruling the market. You’ll find many such technologies coming up to drive automation. Organizations of all sizes will continue to leverage intelligent automation to simplify the process and reduce costs while delivering a better experience to customers.
Intelligent Automation Will Turn Complex Roles into More Creative Ones
Many of you might be dreading that Intelligent Automation is going to replace jobs but there isn’t anything to dread. The world economic forum headquartered in Geneva Switzerland states that AI and RPA will displace around 75 million jobs and in turn create 133 million new roles.
Want to know how that’s possible? Technologies like Robotic Process Automation, workflow orchestration, and intelligent OCR are taking over the burdensome duties and giving way to awesome opportunities. Now, humans get the chance to solely focus on high-value, judgment-based roles. People are able to move from the boring, mundane activities to more creative ones. To put it in simple words, Intelligent Automation solutions help people shift their focus from being simple “data gatherers” to being “data users”.
It’s important to know that technology isn’t the innovation, but the medium that gives people the freedom to innovate. Intelligent Automation has already started providing humans with the authority and the time to think and to create something extraordinary.