Organizations from around the world are realizing the significance of Automation in their businesses. Everest Research Group expects RPA adoption to grow at a CAGR of 45-50% over the next two years. Given such an automation significance, can an enterprise automation program help look beyond cost savings and focus more on bolstering operational efficiency and enhancing customer experience? Intelligent Automation is the answer.
Enterprises in the digital-first world are strategically considering Intelligent Automation as a condition of survival intensified by the global pandemic. Challenged by complex IT and business processes, organizations have amplified their digital transformation plans to gain efficiency and resiliency. Intelligent Automation is finding its prominence to add value to enterprise businesses. Intelligent Automation is fast becoming a #1 strategic technology trend, and it is said to be surpassing the rule-based Robotic Process Automation.
According to a new forecast from Gartner, Inc, the worldwide market for technology that enables Intelligent Automation will reach $596.6 billion in 2022.
What is Intelligent Automation?
Built on the RPA foundation, Intelligent Automation (IA) unifies Robotic Process Automation (RPA) execution functionalities with Artificial Intelligence, Analytics, Optical Character Recognition (OCR), Intelligent Character Recognition (ICR), Intelligent Document Processing (IDP), and process mining. Simply put, IA exhibits human-like capabilities such as judgment, creativity, and problem-solving.
What benefits does IA ensure for enterprises?
In its latest survey, Deloitte reported that 73% of senior executives say their organizations have already started on a path to intelligent Automation. From freeing employees from mundane tasks to saving a significant number of work hours, global organizations are empowering employees to focus on high-value work. Here are a few of the benefits of adopting Intelligent Automation program:
- Solve the complexities of processing high volumes of unstructured & structured data
- Enable the workforce to deliver efficient work in less time
- Achieve desired operational efficiency
- Reduce the burden of incurring hefty process management costs
Why choose the Intelligent Automation program over RPA implementation?
Business process automation remains a top priority for every organization that has deployed automation programs in one way or another. When RPA delivers remarkable outcomes for organizations, one might think, why is it important to choose Intelligent Automation?
When comparing an RPA program with an Intelligent Automation project, the difference is the automation capacity to think and do what’s next. IA technology delivers what an RPA initiative finds difficult to automate. Pre-defined and set rules make the Robotic Process Automation carry out simple and repetitive tasks. If there is a change in a variation or modification in a business process, an RPA program looks for a quick redesign. This means you may have to incur costs and face delays in process automation.
This is where Intelligent Automation works best. IA is driven by Artificial Intelligence and other advanced cognitive, analytical, and predictive engines, Intelligent Automation processes any task with the help of BOTS that are capable of learning data in real-time. ‘RPA 4.0’ or Intelligent Automation as termed by the Everest Research Group, IA has three major features that make it the top contender in an automation journey:
- Machine learning, computer vision, text analytics, and NLP
- Predictive and prescriptive analytics
- Self-managing, self-healing robots
Why make Intelligent Automation (IA) a long-term automation strategy?
Every automation initiative is a continuous journey to achieve the next level of operational efficiency for any given organization. Reducing costs and manual tasks might only give you short-term wins. A simple RPA program helps achieve it, but enterprises are looking beyond cost optimization through automation implementations. They are looking to engage with customers better. IA helps complex businesses adhere to higher quality and compliance standards while it provides far more cost reductions and better employee engagement.
What is next in enterprise automation?
It is a proven methodology to analyze automation implementations for optimum business benefit, no matter what automation program and level of automation maturity you are on. Many organizations indeed get caught up in deployment. Evoke Technologies has great automation expertise to develop and deploy Intelligent Automation programs suited for business. Evoke has helped global enterprises to achieve ROI from IA projects.
Is Intelligent Automation in mind? Talk to our automation experts