Future businesses will adopt more versatile procedures as intelligent automation enables managers to maximize the potential of both their human and robotic resources.
Many firms have utilized robotics to automate repetitive tasks as modern organizations adopt more computerized working methods. These businesses are now attempting to scale these solutions using Artificial Intelligence to move from the mundane to the novel.
Business Process Management (BPM), commonly referred to as business workflow automation is a component of Intelligent Automation. Workflow automation is a technique used in Business Process Management (BPM) to improve the consistency and agility of corporate operations.
In this blog, let’s explore Intelligent Automation, how it operates, and discuss how businesses of all sizes can benefit from it. We’ll also look at IPA application examples across major industries like the healthcare and banking sectors.
What Exactly Is Intelligent Automation & How Does It work?
IPA combines RPA, Machine Learning, and several other AI techniques to carry out and automate digital activities. For instance, IPA combines more complex AI disciplines like Natural Language Processing (NLP) or data extraction with process automation, whereas RPA combines web scraping and workflow automation. This creates a wide range of opportunities previously out of reach for business systems.
The ability of intelligent automation, as opposed to RPA, to recognize and analyze unstructured or semi-structured data is one of the most critical differences in this context (think of files like PDFs, images, and video). It is difficult (if not impossible) to refer to preexisting models with these data types because they are typically process-oriented rather than data-oriented. Intelligent Process Automation can handle such data without access to massive training data sets or intricate, rule-based training.
Why Are Modern Businesses Turning To Intelligent automation?
The following are few reasons why businesses are moving towards IA and how the process aids businesses in achieving the following objectives and problems.
- Cost And Labour Shortage
Modern firms must address two issues: growing service competition and a labor shortage that impedes economic growth. Many businesses cannot take full advantage of the large amount of data they already have due to a lack of accessible staff.
This is where IPA comes into play, saving people from manually handling and analyzing data.
- Being More Innovative
According to a survey conducted by a company about their intelligent automation efforts and workforce impact in 26 countries covering Africa, the Americas, Asia, and Europe, it was discovered that modern companies are boosting their use of intelligent automation and RPA. 58% of CEOs who were asked stated they have started automating. In particular, 35% are experimenting, 13% are deploying, and 8% are automating at scale.
Organizations believe that automating decisions based on structured and unstructured data will enable them to transform their business operations to boost speed and accuracy while lowering costs. They estimate a 15-month payback duration on average, with the scaling phase’s payback period being just nine months.
- To accelerate digital transformation
Organizations worldwide are rethinking how to accelerate digital change without causing disruption. Automation creates new opportunities to reimagine business operations.
Technology can enable the development of a human-centric workplace where workers are enabled to carry out the more critical job when used effectively. Intelligent automation helps the firm function better, lowers overall operating costs, and increases value creation.
Industries that could benefit from IA
Businesses in various industries have already implemented intelligent automation to streamline and automate internal business processes. You can refresh your memory about further uses of smart process automation technology in many business sectors by reading the information below.
Intelligent Manufacturing Automation
Digital change in the manufacturing sector, primarily Industry 4.0 and 5.0, was made possible through intelligent automation. The industry uses several cutting-edge tools and technologies, including AR/VR, 3D printing, the Internet of Things, artificial intelligence, machine learning, robotic process automation, and more.
These technological technologies are designed to reduce or remove human involvement in internal operations:
- Processing enormous amounts of data properly and quickly.
- Based on data analytics, make predictions.
- Increased quality control as a result of integrating computer vision.
- Robots, instead of people, carry out specific duties.
Intelligent Automation in Transportation and Logistics
Automation and optimization of logistics processes are driven by the implementation of intelligent technology, resulting in improved customer journeys, particularly:
- Reducing the likelihood of low stock levels by carefully organizing the supply of each firm branch.
- Drones or automobiles powered by AI that offer unmanned deliveries.
- Optimized transportation routes to reduce costs and speed up delivery.
Healthcare Intelligent Automation
The healthcare sector keeps up with all market advancements to increase medical services and treatment options. As a result, several healthcare facilities have already used robotic process automation, replacing doctors during various surgeries.
Artificial intelligence is already extensively employed in healthcare software systems to process vast volumes of patient medical data to deliver an accurate diagnosis and, consequently, individualized treatment regimens.
Intelligent automation guarantees a smooth patient experience and efficient care, such as:
- Remote health monitoring using medical wearables linked to a medical software system employing IoT technologies;
- Robotic surgery eliminates the possibility of human error;
- Robots in place of nurses and help women to maintain sterility, administer medications to patients, help in an emergency, etc.;
- Replace doctor visits with automated remote appointments for minor ailments.
Real Estate Intelligent Automation
The real estate sector is currently undergoing rapid digital change. Real estate companies look for efficient IT solutions to successfully run their businesses. Before, there were only a few real estate automation solutions, and there was no one-stop shop for property administration. Automation of internal operations and processes is the responsibility of intelligence automation, which will improve the following:
- Property management: Each object’s real-time information is stored and managed in a single system that is reachable from a variety of devices and places;
- Tenant management and experience—all requests and complaints from tenants are posted to the platform for property management; Managing payments, which include taxes, monthly rent payments, bills and invoices for collections, and more;
- IA-based tenant finder: automatically identifies tenants who are a good fit for a given property.
Banking and intelligent financial automation
Intelligent automation can speed up access to each customer’s credit history, automate planned payments, provide financial services around-the-clock with robotic assistants, and do other daily tasks within banking facilities.
Intelligent automation technologies are also in charge of keeping all data for the entire working year to analyze it, make predictions, and avoid past blunders in financial planning.
Smart Automation in the Insurance Industry
As insurance businesses use intelligent automation technology, automated calculations and risk prediction for every customer are now more accurate and based on AI-analyzed customer data and behaviors.
Additionally, IA automates payments and claim verification to eliminate paperwork. Additionally, intelligent automation gives insurance companies access to the latest compliance rules updates, allowing them to adapt to changes and satisfy customer demand.
Businesses are anticipated to increasingly use cutting-edge technologies. However, implementing intelligent automation shouldn’t be a haphazard process; instead, it must follow a methodical, strategy-based approach.
Businesses may accomplish their objectives and implement their plans more quickly and effectively with intelligent automation.
However, you must first link stable internal workflows with any upcoming new business processes before introducing robots or AI-powered solutions.