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How You can Reach the Next Level of RPA With AI?

In the past few years, almost all the business sectors incorporating government, finance, retail, utilities, telecommunications, transportation and even energy have been implementing Robotic Process Automation (RPA) into their business procedures. Most of the business owners think that RPA is the foundation of their digital transformation.

With RPA one can utilize the methodologies and software that can help in better utilizing all the modern technologies including machine learning, artificial intelligence, voice recognition and more. RPA itself is a very advanced technology and with Artificial Intelligence it can do wonders and that’s why RPA with AI is a must for all the industries.

As per the recent studies by Gartner by the end of 2019 RPA usage will increase by 40%. Also as RPA decreases processing cost by 40-80% and processing time by 80%, it is a favourable option for all.

What are the advantages of RPA?

  1. Scalability: The robots used for one procedure can be expanded to other procedures as well.
  2. Continuing service: As machines don’t get tired they work 24 x 7 without any breaks.
  3. Audit trail: The way RPA works involves generation of data that can be used for ensuring compliance and enhancing processes.
  4. Cost: In the long run robot is obviously more cost effective than human.
  5. Time: It used to take years to implement any project a few years ago, but now with machines it can be done faster. Also with robots it will take much less time for project implementation.
  6. Truthfulness: Robots do their tasks faithfully no matter what and do whatever it is told no question asked.

Robotic Process Automation means mimicking the human activity and RPA with Artificial Intelligence the mimicking thing is done through speech recognition, vision and pattern detection features. With AI the robots are capable of improving the way they process which leads to probabilistic behaviour.

Factors that are responsible for making RPA a success:

  1. Operative monitoring
  2. Commitment from the organization
  3. Team of professionals who have knowledge about the best practices of RPA
  4. Identification of goals and targets
  5. Following an all-inclusive approach towards development and analyzation

Places, where Robotic Process Automation can be used effectively, are:

  1. Claim processing: Robots are capable of reviewing the claims of the customers and could easily find out who should get a refund without any help from the employees of the company.
  2. Fraud detection: In a bank, employees have to perform a background check of the customers in order to investigate any frauds and for humans, this is a very tedious task. Robots can do this job without any errors.
  3. Fax categorizing: With robots, one can convert the fax images into machine-readable text within seconds. Data is then extracted and faxes are categorized.
  4. Form checking: Monotonous tasks like checking orders and preparing the delivery process can be managed effortlessly by robots.

Many more sectors are there which are utilizing robots with automation in their internal procedures, we will talk about them in our next blog. To enquire more about Robotic Process Automation with Artificial Intelligence you can talk to our experts any time.

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