ML and AI are redefining business automation

CIO Review Europe | Tuesday, July 26, 2022

Over the decades, automation has touched almost every industry — from ATMs to assembly lines to healthcare systems. But artificial intelligence (AI) and machine learning are taking automation to a whole new level.

FREMONT, CA: Automation has impacted practically every industry over the years, from ATMs to assembly lines to healthcare systems. The advent of artificial intelligence (AI) and machine learning, on the other hand, has brought automation to a whole new level. This so-called intelligent automation is transforming how humans and machines interact, allowing businesses to boost efficiency, grow revenue, and prosper in difficult markets. In reality, research suggests that automation has a significant impact on the bottom line. According to the IBM Institute for Business Value, AI-assisted automation will produce billions of dollars in labour value by 2022. Business automation refers to the use of technological applications to automate routine operations, allowing staff to focus on higher-value duties. These include business process automation (BPA), robotic process automation (RPA), and AI-powered automation.

Automation used to necessitate enormous mainframes and a staff of professionals to keep them running. Cloud-based automation systems have made automation features accessible to businesses of all sizes. The following are examples of business automation:

1. Basic automation: Simple, elementary jobs are automated using basic automation. Basic automation tools digitise repetitive processes with little to no coding, helping to avoid errors and speed up transactional activity. Basic automation includes things like business process management (BPM) and robotic process automation (RPA).

2. Process automation: this ensures consistency and transparency in company processes. Process automation, which is often handled by specialised software, can boost productivity and efficiency while also providing useful business insights. Process automation includes things like process mining and workflow automation.

3. Advanced automation: Humans and machines work together in advanced automation to integrate numerous systems across the enterprise. Advanced automation depends on unstructured data, machine learning, natural language processing, and analysis to support more complicated procedures. It encourages the management of knowledge and decision-making in specialised activities.

4. Intelligent automation: Intelligent automation, which is fueled by AI, refers to computers that can learn and make judgments depending on scenarios they've met and studied. Virtual assistants powered by AI can cut expenses while enabling smarter interactions between customers and human workers in customer service. Consequently, the customer service experience has improved.

In today's fast-paced environment, business automation is essential. Predicting which client habits will remain post-pandemic can be difficult, ranging from wildly fluctuating demand to increased health and safety concerns. With automation and AI, these experiences can be corrected or refined, yielding more sales, improved resource utilisation, and higher customer satisfaction.

An automated platform that allows you to perform the following is one of the ways to do this:

1. Discover processes: Identify inefficiencies or hotspots in the business to see where automated processes might make the most difference. This entails data mining and modelling of processes.

2. Apply intelligence: Use the data generated by using machine learning and AI to recommend actions and free up employees to focus on more strategic duties.

3. Augmenting workforce: Create RPA technologies and deploy digital workers to collaborate with humans wherever a greater degree of productivity or backup is required.

4. Automate core operations: To fulfil business goals, use core automation capabilities such as document processing, workflow orchestration, decision management, and content services to critical operational areas.

Businesses must regularly use proven automation tools and best practices across all workflows to harness the full promise of automation, from providing faster, digitised consumer experiences to simplifying internal operations. However, not all systems have all of the technologies required to automate end-to-end processes. This can result in a plethora of point solutions, higher prices, and a lack of scalability.

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