Boosting the productivity of a company can be a challenging task for you due to many barriers. This is where IA automation can be helpful for your company. It combines a wide range of technologies to provide valuable tools with which you can analyze data and formulate an effective strategy.
According to Statista, the market value of intelligent automation will stand at $30 billion by 2024. This figure is too good to overlook, so you want to invest in intelligent automation to make the most out of its growth.
To do so, you need to get a detailed insight into intelligent automation. With an in-depth knowledge of the different aspects of intelligent automation, you would know how to employ it for profitable returns. Read on to learn what intelligent automation is and its other vital facts.
Intelligent Automation: What Is It About?
Intelligent Automation is an ambiguous term. As such, you can define it in many ways. Generally, it refers to the scaling and streamlining of different by a company based on automation technology.
Some people also call it cognitive automation. It works in conjunction with a wide range of technologies. Business process management and artificial intelligence (AI) constitute the core of Intelligent Automation.
Even from the standpoint of business processes, it has a crystal-clear definition. In this context, the comprehensive solution transforms operational business processes by converging strategies and technologies through digital transformation.
It packs the power of Robotic Processing Automation (RPA), digitization, and artificial intelligence for this purpose. So, you can say that RPA, which is all the rage these days, is a product of intelligent automation.
Intelligent Automation: How It Works
Before knowing how intelligent automation works, you need to know how robots and humans work side-by-side in the current scenario. It counters the view that humans and artificial intelligence cannot work together. On the contrary, it shows how humans and AI complement each other.
Now, coming back to the working of intelligent automation, it relies on three different technologies to generate desirable outcomes. These include robotic process automation (RPA), business process management (BPM), and artificial intelligence (AI). These technologies work together for the technological transformation of business processes.
Considering that these technologies work together, you might want to find out which one is the most important among them. Artificial Intelligence (AI) is the most critical of all three processes. Business process management (BPM) comes next to it on the list, followed by robotic process automation RPA).
These technologies rely on tools for the fulfillment of desired objectives. AI help evaluate both structured and unstructured data. With its tools, you can analyze the customer data to build up an effective strategy based on customer behavior.
You can use the tools of business process management for the automation of workflows. Alongside streamlining different processes, its tools can also help you improve interactions. Robotic process automation has tools that simplify matters for handling back-office tasks.
You can consider filling out database forms if you want to gauge RPA’s ability. With manual effort, you can take hours to complete the task. RPA can help you accomplish the task in just a few minutes. RPA has the advantage of using AI insights to handle complex tasks.
Are Intelligent Automaton & RPA Same or Different from Each Other?
Most people ask this question due to some similarities between intelligent automation & RPA. While both have some similarities, they are different from each other. To begin with, you can consider RPA a subset of intelligent automation.
Intelligent automation can learn from actions in the past. On the other hand, RPA mimics the actions of a human being through automation. Unlike intelligent automation, which relies on cognitive intelligence, RPA is good at concluding manual tasks.
Benefits of Intelligent Automation
Intelligent automation brings some undeniable benefits for businesses. You might want to invest in it to reap its benefits for gaining an edge over your competitors. The advantages of intelligent automation include the following:
Improved productivity and cost-effectiveness
The significant benefit of intelligent automation is its ability to boost productivity without requiring a substantial expenditure.
Reliability and accuracy
Repetitive tasks can be mundane. And relying on human efforts to conclude them can lead to a loss of accuracy. You can get reliable and accurate results by investing in intelligent automation solutions.
An enhanced experience for both customers and employees
Intelligent automation provides the desired results quickly and with a high degree of accuracy. This leads to an improved experience for both customers and employees alike.
Better compatibility with regulations and compliance
Does your company belong to a niche where you need to handle vast data? If yes, intelligent automation can help you do it by adhering to regulatory policies.
You need to invest in intelligent automation to get a technological edge in the changing face of the business world. This will help you automate repetitive tasks and transform your business processes to reap the benefits above. Also, you can attain your targeted business goals with finesse.