Intelligent Automation 101: A Complete Guide
Why Do You Need Intelligent Automation for Your Business?
Today, every company is attempting to grasp the advantages of intelligent automation. They are changing their methods of operation as a result of intelligent automation (IA). These smart automation tools can automate whole workflows and processes, as well as acquire, analyze, and make use of massive volumes of data.
There is an annual 14% growth in the number of jobs lost to automation. According to data gathered in 2021, a large majority of workers (86%) feel that access to automation services would improve their productivity on the job.
In this article, we will talk about what intelligent automation is, how it works, and how companies of all sizes can use it to their advantage.
How is Intelligent Process Automation Different From Robotic Process Automation?
The biggest difference between Robotic Process Automation (RPA) and Intelligent Automation is that RPA is only a part of how technology can be used to improve a business's whole process from start to finish. It's important to remember that if RPA is seen as a magic bullet, it will not achieve that larger goal.
Intelligent Automation combines RPA with machine learning and cognitive technologies like computer vision and natural language processing.
Robotic Process Automation
Robotic Process Automation (RPA) is used to automate certain tasks and solve specific problems in a business process, like moving data from one system to another when no API is available. It is mostly used to take away the need for people to do repetitive work, like entering data.
Intelligent Process Automation
Simply put, intelligent automation (also known as cognitive automation) is the use of automation technology to improve the efficiency and scalability of business processes and workflows.
It refers to a collection of several technologies that work together to manage and automate important digital activities. In this category, we find technologies like robotic process automation (RPA), business process management (BPM), and artificial intelligence (AI) (RPA).
By removing unnecessary steps and minimizing the need for human intervention, intelligent automation helps businesses streamline their operations and boost productivity.
How Does Intelligent Automation Work?
The process flow of intelligent automation is similar to the acts of human operating systems on a screen, including opening a system, accessing some data, copying it, pasting it to another system, making a report, and sending that report to someone. That procedure can be taught to a robot, and it will carry it out mechanically. This is an example of an automated process.
It works well for routine and repetitive chores, and the robot then repeats that action indefinitely so that your staff can concentrate on more strategic endeavors.
Intelligent automation goes far further by enabling you to not only automate a current process but also reengineer it and create new ones via the development of apps and systems.
The Key Benefits of Intelligent Automation
Let's quickly go through some of the main gains that each sector may make use of using intelligent automation:
With the help of intelligent automation, large chunks of a business process can be automated, which in turn reduces the need for manual labor and eliminates the possibility of human error.
Unlike humans, algorithms never tire of doing work. Intelligent automation may be utilized to carry out tedious and time-consuming operations without sacrificing efficiency or accuracy. Automation not only reduces the time it takes to complete a job but also reduces the likelihood of mistakes being made during execution.
Better experience for customers
Using intelligent process automation, businesses may streamline some of their contacts with and respond to customers' questions and concerns. The result is happier clients as their issues are resolved more quickly.
As robots are available 24 hours a day, seven days a week, their service is predictable, reliable, and continues even when demand is high.
Efficient production quality
By focusing on the reduction of variance, intelligent process automation contributes to enhancing quality. With automation, there is less room for error in each individual's work, leading to more consistent results.
Reduces regulatory burden
Many businesses, particularly those in the legal and financial sectors, are subject to strict compliance control laws. You can create a reliable system for complying with these rules with the use of intelligent automation, which will allow you to automate some processes.
Expenses are cut, so that's a plus.
Intelligent automation responds well to demand changes. Unlike traditional versions, it can grow or decrease capacity rapidly and cheaply. This may be needed to guarantee that peak demand doesn't harm customers or personnel.
Compared to the ongoing expenses of hiring, training, and compensating a flexible staff, the one-time cost of using intelligent automation is substantially cheaper. Intelligent automation speeds up processes and boosts output while also lowering expenses.
Why Are Businesses Turning to Intelligent Automation?
Now let's discuss why companies choose to use IPA. Here are some of the objectives and difficulties that the answer assists with.
Due to high prices and a lack of available workers.
Increased service provider rivalry and a lack of available personnel are two problems that modern firms must solve at the same time. Many businesses are unable to fully capitalize on the massive amounts of data they have collected due to a shortage of resources. The IPA comes into action at this point, freeing human beings from the laborious task of manually processing and analyzing data.
Boost digital transformation
World organizations are thinking about how to speed up digital change without making things worse. Automation gives businesses new ways to rethink how they run. When used correctly, technology can help create a workplace that puts people first and gives workers the tools they need to do more meaningful work. Intelligent automation reduces overall operational costs, improves business performance, and helps the company make the most money it can.
What Are Some Applications of Intelligent Automation?
Let's take a look at some applications of intelligent automation:
- Processing of Contextual and Verbal Information: With the help of IA, robots can take in facts from situations or texts and come up with a suitable response.
- Changing the Way Businesses Work: When it comes to the day-to-day operations of our organizations, concerns like processing massive amounts of data and dealing with high labor prices and a shortage of available workers are two of the most pressing problems that IA helps us solve.
- Reduced complexity for improved performance in all areas: Machines equipped with IA may examine data for accuracy and consistency, identify discrepancies, and provide a variety of solutions that best meet the needs of the organization.
From the examples above, it's clear that intelligent automation can be used to improve workflows and streamline processes in almost any industry:
IA in the Automotive Industry
With Intelligent Automation, manufacturers can better predict changes in supply and demand and adjust their output accordingly. They can make manufacturing, support, procurement, and other areas more efficient and reduce mistakes. They make a better product for less money by cutting down on human labor and improving fault detection with robots.
For instance, at Volkswagen, as a way to deal with the drop in employees, the automotive giant has decided to put money into collaborative robots.
At Volkswagen, robots do tasks that could be dangerous, help with production and buying, and reduce the chance that people will make mistakes.
IA in Banking and Finance
Computer systems powered by IA can answer complex financial inquiries posed in plain English and in real-time, allowing for increased speed, decreased wait time, and the automation of work that formerly required a high level of human expertise.
Intelligent automation is used by portfolio managers to find patterns in research data. Data sets too large for a human to examine manually may now be analyzed by IA systems to reveal errors.
Automated Intelligence in Manufacturing
IA has caused industrial revolutions, which have brought big changes to processes and environments that rely on cyber-physical and cognitive systems. Recent technological advances like AI, ML, IoT, AR, VR, additive manufacturing, and quantum computing have all influenced the design of these systems.
So, physical and digital robots that are controlled by cutting-edge intelligent automation tools and technologies can do many things that humans used to do.
The improvement of complicated business procedures may be accomplished via the use of intelligent automation, which is the combination of robots and many advanced technological components. The process contributes to the transformation of organizational work processes in a variety of sectors, including finance, human resources, tax, customer service, regulatory compliance, and other areas.
Intelligent automation is already assisting businesses in cutting costs by removing inefficiencies, boosting their productivity by automating low-skilled jobs, and reducing risk by lowering the number of errors caused by humans and increasing compliance standards.
And if you want your company to be more productive, more efficient, and save money this year, you might want to embrace digital transformation and choose the best IA tools for your business.
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