Tech Revolution: AI & RPA and their Difference
Just about every major company appears to have some kind of RPA or AI system in place, yet many still question the practicality these technologies have for their organization. The reason that AI and RPA are not standard across the board is because there are still plenty of misconceptions surrounding these developments. Yes, they will help reduce operational costs but it’s important to realize that the benefits reach much farther than that.
Artificial intelligence (AI) and Robotic Process Automation (RPA) are two of the most successful technologies that also happen to be complimentary in terms of their compatibility when it comes down to increasing customer satisfaction while reducing operational costs. The use of these tech services have led to the creation of what are known as Cognitive Business Process Automation Services, which helps managers take advantage of these tech utilities so they can lead business processes in ways that were otherwise impossible!
Let’s take a better look today at what RPA and AI have to offer. Combining these complementary technologies can help businesses in numerous ways.
Table of Content
- RPA: Augmenting People with Process Automation
- Using RPA to augment people
- An example
- AI: Augmenting Automation with Artificial Intelligence
- AI + RPA: Enabling End-to-End Automation
RPA: Augmenting People with Process Automation
It is possible to augment people with process automation and robotics. There are companies already doing it, while saving money and boosting efficiency. The best way to augment people is to give them the right tools, the right training, and the opportunity to learn. This can be done by providing training programs, providing them with the right tools, and giving them the opportunity to work remotely or from home.
Moreover, RPA helps companies save time and money. Rather than letting employees go, RPA robots are more like virtual assistants outfitted with skills to take over repetitive tasks within the workplace. They’re not super complicated but they help your business function smoothly by freeing up time for people with bigger jobs to focus on tasks that are more difficult to manage. Machines never cease to amaze. The fact is, they regularly serve up a fresh new batch of actions at exactly the same frequency as they were instructed to do so and with no room for error.
Using RPA to augment people
Some businesses are relying on robots, known as Robotic Process Automation, to perform menial tasks within their organization. With RPA, these businesses are augmenting the work of their employees, allowing them to focus on higher value tasks and work more efficiently. There’s certainly a lot of benefits to using RPA, but it is not without its drawbacks.
While there may be thriving businesses in the short term with the implementation of RPA in their operations, in the long term, it could be detrimental to the organization. To avoid these drawbacks, it’s important to treat RPA like any other tool and assess the situation before deciding if it is right for your business.
RPA is one possible solution that organizations are turning to when it’s not cost effective or feasible for their teams to scale infinitely. By using RPA to automate tasks like payroll or email triage, businesses can actually help improve results without necessarily needing more staff or spending more money on easy-to-find talent.
Using RPA to augment people is a proven way to benefit the organization with:
- Accuracy: minimize human error and the costs associated with it
- Compliance Tasks: The two things that product managers need to master are tracking all of their projects’ progress and making documentation.
- Speed: complete tasks four to five times faster, improving efficiency.
- Reliability: bots are always available, round-the-clock, minimizing delays
- Improved Employee Morale: remove repetitive tasks from their plate so employees can focus on productivity – not processing.
Consider the story about a financial institution that uses RPA to help automate their Fraud Detection process. The bank stopped the presses when they started using RPA to automatically detect fraudulent transactions since it allowed them to remove hundreds of hours of work that would have otherwise been required. Instead, the bank was able to focus on improving their services. The process has helped considerably with reducing excessive use of resources (hours) and put more time back into other tasks. Today, agents can delegate the wrap-up process to a bot and move on to helping the next customer. The end result? More accurate orders get fulfilled faster, happier employees, and more satisfied customers.
AI: Augmenting Automation with Artificial Intelligence
Artificial intelligence is just another way of saying “computer intelligence”. However, the word ‘artificial’ helps to clarify that this is an intelligent system built by humans for use by humans. These processes include gathering information, learning contextual rules of information gathering and discerning conclusions that are valid. However, it also results in an individual correcting these actions when they are wrong. Popular applications of artificial intelligence include image recognition and machine vision, and these can be applied to a great number of activities. Increasingly we see new technology replacing what were once considered lowly jobs. Chatbots and natural language generation quickly became two areas of intense research in the past few decades as there is much need for interactivity within the many facets of our modern age.
While RPA is used to work in conjunction with people by automating repetitive processes (attended automation), AI is viewed as a form of technology to replace human labor and automate end-to-end (unattended automation). And before implementing an artificial intelligence system in your business, you’ll need to plan out what types of tasks it will be helping you with – especially if the process is already automated (RPA) otherwise, AI will only make matters worse by getting in the way!
AI + RPA: Enabling End-to-End Automation
End-to-end automation is key to providing the self-service options that so many customers want. The main key thing to remember is by empowering customers with automated self-service features, you not only drastically improve their overall experience but also build trust and cultivate loyalty at the same time.
Banks and other financial institutions maintain a lot of sensitive information. The financial information of millions of individuals is vital to the healthcare system. However, the millions of customers that banks service are not interested in how these banks store their data. They’re interested in finding out how to get the latest information, how to manage their savings, and of course, how to spend their money. This is why it’s vital that banks find ways to make this information easy to access, while still ensuring the security of their systems. Many banks are turning to Robotic Process Automation (RPA) systems to help them manage customer accounts more efficiently. RPA allows banks to utilize AI to optimize these processes, especially in customer onboarding.
Introducing Robotics Process Automation solutions to a business can start with a conversation about an automation platform such as Integromat. The best way to get started is by talking over your options with us, and explaining what it is you or your counterparts would like to accomplish using our software solutions. As a growing company, we know that you have many projects going on at once, automating can help your organization grow exponentially in terms of efficiency.
The need to develop a business-wide strategy is realized once the bottom line begins to show statistical proof that RPA has been successful at streamlining processes, contributing to a better bottom line. You’ve been wondering how to automate your business operations through RPA like Integromat, but you’re short on time and don’t have any programming experience. Luckily, there’s a course that will teach you everything you need to know about automation and integrating it into your business processes. The Integromasters course will show you how to integrate automation into your business with detailed instruction and a mastermind group that will help you every step of the way. Integromasters is the best course available to learn automation and adapt it to your business processes. Detailed instructions and Mastermind Facebook Group are included and more.