Businesses are now looking for ways to streamline and optimize their operations more than ever. In the search for increased efficiency and a better customer experience, an increasing number of businesses are seeing the value in merging Artificial Intelligence (AI) and Robotic Process Automation (RPA).
In this article, we’ll take a closer look at three key business areas where AI-powered process automation assists a wide range of enterprises in addressing today’s – and tomorrow’s – difficulties.
What Is AI-Powered Robotic Process Automation, And How Does It Work?
Before moving on to the use cases, let’s establish what we mean by AI-powered Robotic Process Automation (RPA). RPA is most commonly employed to deal with structured data, which is one of its drawbacks. That’s when artificial intelligence comes in place. AI may be used to extract information from semi-structured and unstructured data and then process and convert that information into a structured format that Robotic Process Automation (RPA) can understand. With AI-powered process automation, robotic process automation (RPA) and artificial intelligence are combined. When these technologies are coupled, firms can scale in entirely new ways. Because while manual procedures will eventually limit your company’s growth potential, AI and RPA combined will eliminate those constraints. Suddenly, you have access to a “workforce” that is always available, never fatigued, and never makes mistakes.
Intelligent Automation’s Business Advantages
According to McKinsey, over 50% of all manual labor could be automated in the future. The societal and business consequences are enormous, as we are on the verge of a paradigm shift that will fundamentally alter how we operate. Robots will increasingly perform tedious, repetitive activities, freeing human workers to concentrate on more cerebral, value-adding labor. From a business standpoint, we’ll focus on three areas where these technologies have the most significant potential to improve things:
- Processes and productivity with Big Data
- Marketing and Sales
Managing Big Data With AI And RPA
According to McKinsey & Company, “The amount of data in our society has lately increased, and processing huge data sets and so called big data will become a significant competitive advantage, enabling fresh waves of productivity development, innovation, and consumer surplus…Big data will affect not only data-driven executives but for all leaders.”
Better Predictions Result In Better Choices
It’s safe to say that Big Data is influencing our present and future, as access to ever-increasing amounts of data is becoming increasingly transformative across all industries. The promise of Big Data is enormous, but the sheer volume of data is likely the most significant impediment to its implementation. Companies can spot patterns and conclude with AI-powered RPA. It gives them extraordinary power to forecast events and make data-driven strategic decisions.
Intelligent Automation Increases Productivity
The increased efficiency of company operations is one of the most significant benefits of automation and AI-powered RPA in particular. Businesses can replace archaic processes and old technology with automated and optimized operations by using intelligent automation processes.
Automated Repetitive Processes And No Human Error
By allowing software robots to undertake repetitive activities, Intelligent Automation boosts productivity. Employees are no longer required to check orders or calibrate data. Human errors are difficult to prevent when you’re bored of doing the same thing repeatedly, but the correct software eliminates them. It is an essential benefit of automation since seemingly minor errors can have significant repercussions.
Analyzing Processes Enables Data-Driven Operations
By extracting knowledge from the data and logs currently available in today’s information systems, AI-powered process automation may be utilized to find, monitor, and enhance processes. This method, known as process mining, enables businesses to assess and improve existing business processes by relying on data rather than assumptions and gut feelings.
Sales And Marketing Have Improved
Anyone who has worked in sales or marketing understands the value of timing. To close a transaction, you must present your prospect with the appropriate answer at the appropriate moment. Knowing when and where to advertise a product or service is critical, and automation is the only method to do so at scale.
Recognize Window Of Opportunity
Not only can AI-powered process automation assist you in finding your potential clients, but it can also assist you in determining when they are in the market for your type of product. AI can be used to make your website more appealing to customers by presenting the right content in the right place based on their digital footprint.
We’ve looked at three business areas where AI-powered process automation has the potential to be genuinely disruptive in this post. The extent to which organizations successfully employ AI and RPA to handle and analyze massive data will most certainly distinguish tomorrow’s winners from the pack. Those businesses will acquire a competitive advantage rapidly by capturing and analyzing the deep business insights concealed in the massive amounts of data swooshing through cyberspace.
Companies may achieve unprecedented levels of efficiency and productivity by incorporating automation into their manufacturing processes. The use of software robots to do repetitive tasks removes human mistakes. Employees can concentrate on more creative and engaging work, which leads to increased innovation. And by incorporating these technologies into sales and marketing, the future company will be able to pinpoint exactly when and to whom they should market and sell for the best return on investment.
In short, AI-powered Process Automation is one of the most potent tools for tomorrow’s organizations to face the problems of our more complex and digital environment. Those who are afraid to take the first step risk being hopelessly left behind.
So, if you wish to know more about RPA in business, contact the ONPASSIVE team.