Automation is the fourth irreversible trend after globalization, digitization and mobility. According to a McKinsey report, around 88% of finance and insurance executives and 76% of IT executives reported increased automation implementation since the pandemic. This has increased the need for cooperation between IT and business functions to assess the effectiveness of existing processes and incorporate systems that will drive lasting and scalable changes within the process.
Understanding RPA and AI: As robotic process automation (RPA) replaces repetitive manual tasks with efficient automated workflows using bots, intelligent automation (AI) adds cognitive technologies to provide business process automation to the business. company wide. This helps employees focus on high value-added work, while reducing costs, improving efficiency and managing dynamic customer needs.
AI is seen as the main driver of digital transformation, as AI processes unstructured data, manages exceptions and continuously learns, and thus is able to automate more data with greater efficiency. Effective AI implementation develops end-to-end business processes that are flexible, resilient, and can anticipate change.
Over the past decade, automation has increased across all industries, especially banking and insurance, telecommunications, government, and defense. The healthcare industry has also shown increased adoption of automation, especially due to the pandemic.
Challenges and overcoming them: Digital transformation plans should be determined by the specific requirements of a company’s strategy, which in turn should be driven by the customer experience.
Choosing the right adoption approach: In a bottom-up approach, automation is generally seen as a tactical back-office necessity, limiting its value and benefits to a few departments. On the other hand, a top-down approach to building a âfully automated businessâ is seen as a strategic business catalyst by many companies who wish to maintain their competitive advantage. RPA is suitable for rule-based, consistent, and data-driven tasks. AI uses artificial intelligence (AI) and machine learning (ML) capabilities to work with unstructured, non-standardized, and dynamic data. It is best to use the task exploration and process exploration capabilities of an automation platform to determine how best to automate the business.
Employee involvement: When organizations begin their automation journey, they establish their Center of Excellence (CoE). When results are noticed, companies also provide âa robot for every personâ and employees automate their daily tasks. Soon, services see the value, and more and more employees are starting to use bots using CoE or through low-code or not. -Code âcitizen developerâ approach. The automation journey begins to function as a flywheel, which is scalable, where the continued use of automation generates ideas that rapidly expand automation for businesses. If all employees use automation to save one hour of work per day, it will translate into a better return on investment.
According to a recent survey, 75% of the 1,500 senior executives and world leaders observed that business functions compete with each other instead of cooperating. Business leaders also need to deploy multiple integrated automation solutions to benefit the entire company. When an organization uses a hybrid approach to determining what to automate, a feedback loop is created that amplifies use cases and drives adoption.
Use of low-code and citizen developer concepts: Low-code platforms use visual drag-and-drop techniques instead of traditional programming lines and offer permissions and access controls by default. Any citizen developer can use low-code platforms. However, this can lead to difficulties in applying standards and can also lead to security issues. Thus, it is imperative to have a mechanism capable of regulating such deployments and ensuring alignment with organizational strategy.
As we extend our automation journey, it’s imperative to consider multiple approaches in the journey and tailor your transformation to benefit the organization as a whole.
Anil Bhasin is Managing Director and Vice President, India and South Asia, UiPath.
Never miss a story! Stay connected and informed with Mint. Download our app now !!