AI and RPA: How the New Tech Companies Can Benefit From It?
AI are intelligent machines that use sets of data and complex algorithms to self-increase their expertise on any given task. It is the closest thing that mankind has created to the human brain. RPA stands for Robotic Process Automation which is a new and developing software technology. The main objective of RPA is to make simple and repetitive business processes automatic with the help of structured data and logic.
How Can New Tech Companies Benefit from AI and RPA?
The scope of RPA can be improved drastically with the integration of AI. When we think about data from a computer’s perspective, the two types, structured data, and unstructured data come to mind. RPA cannot work on unstructured data and thus some efficiency in automation is lost on converting and structuring the available data.
With the implementation of AI and Machine Learning, the data can be structured and fed to the RPA system with no interruption. This combination, usually termed as Intelligent Automation (IA) has led to outstanding digital transformations and holds the power to do so much more.
New companies can develop bots to automate any of their mundane and structured based work. This not only frees up the workforce to focus on more intelligent tasks but also completely eliminates the risk of errors. For example, Deloitte, a leading organization in finance developed bots to produce monthly reports which reduced the company’s operational costs by 22%.
In addition to cost and accuracy, the productivity and time factors of the companies improve by a huge margin with the implementation of IA. No time is lost as many applications can be streamlined and automated with no human interaction.
The final benefit of IA for new companies is the value to the customers. IA can be used to develop intelligent chatbots that can process unstructured questions from customers and provide useful answers instantly. This smoothens the user experience and encourages them to make purchase or conversion decisions when they are most interested.
Final Words
It is no longer optional for emerging businesses to integrate AI and RPA in their workflow. If there is any concern on the organization’s part for efficiency, customer experience, cost reduction, and automation, IA can bring massive transformations with the help of complete automation.
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