What is Intelligent Automation, and how can it help your business?

The IT sector is looking for ways to develop software that can facilitate tedious and repetitive tasks with technological advancements. Intelligent automation (IA) is one such advancement in the field of technology. Intelligent automation leverages the combination of automation and artificial intelligence, i.e., Robotics Process Automation (RPA), Artificial Intelligence (AI), and Business Intelligence (BI), leading to a breakthrough in the way data is handled and processed. Simply put, IA streamlines processes, frees up resources, and increases operational efficiencies with various applications, similar to RPA. RPA replaces tedious manual tasks with automated workflows using software robots. On the other hand, IA adds cognitive technologies such as artificial intelligence to automate business processes enterprise-wide and free up employees and capital to be directed onto more strategic tasks.?

?Four main components of intelligent automation?

There are four cognitive technologies at the core of intelligent automation. Integrating these components can create a solution that drives business and technology transformation by streamlining processes and simplifying workflows.

• Robotic Process Automation (RPA): RPA leverages software bots to create efficient value chains. It can automate repetitive tasks to reduce effort and create operational insight and capacity that was previously unattainable.?
• Artificial Intelligence (AI): One of the most critical components of Intelligent Automation is Artificial Intelligence (AI). Businesses can generate predictions and acquire knowledge-based on structured and unstructured data by analyzing machine learning and complex algorithms. Hence, this works as the decision engine of IA.
• Business Intelligence (BI): BI transforms data into actionable insights to make informed strategic and tactical business decisions. The technology allows for fast analysis of reports, summaries, and dashboards about the state of the business.

A large amount of complex data can also be processed using intelligent automation, increasing the speed and accuracy of human capabilities. Additionally, COVID-19 acted as a catalyst in demonstrating that resiliency depends on orchestrating end-to-end digital processes. This article will look into the benefits of IA and the results that enterprises can achieve by implementing this technology. Read on.?

Benefits of intelligent automation?

Verified Market Research projects the IA market size to reach USD 21.63 billion by 2028, growing at a CAGR of 12.37% between 2021 and 2028. Intelligent automation platforms have many benefits across industries since they take advantage of a large amount of data that is meticulously calculated, analyzed, and serves as a foundation for business implementation. Here are some of the key benefits of IA:?

• Optimizing workforce at a reduced cost and enhancing productivity: Data analysis and automation of systems and processes can ensure accuracy and acceleration. IA enables businesses to scale quickly without compromising quality, increasing risk, or putting additional strain on the current workforce. Increasing production visibility and maximizing ROI are two benefits that business leaders are reaping from this new technology.?
• Accelerate vendor experience: By offering a more reliable and high-quality product to markets and improving the turnaround time for customer queries, it provides a richer, more positive experience for customers and allows the company to have a competitive edge over its peers.?
• Enhance precision and workflow quality: Intelligent automation leverages artificial intelligence to help drive decision-making and bring consistency to repetitive tasks.?
• Ensure compliance with regulatory policies: Several industries are required to adhere to specific regulatory guidelines to remain afloat in the market. Compliance can be automated with IA and its task automation features, mitigating the risk of non-compliance penalties. Subsequently, this helps clients comply with regulations and meet compliance requirements with confidence.?

Intelligent automation with Proven Consult?

By combining business process management and robotic process automation (RPA) chatbots with artificial intelligence, Proven Consult's intelligent automation can help you reduce manual business processes and improve decision-making by automating complex operations across your entire organization. Proven Consult's IA platform has helped many businesses transform their business, including over 100K in SR saved by automating PR to PO operations and more than 90,000 SR saved by automating Invoice Processing.???

The future of Intelligent Automation?

Intelligent automation is extensively driving the future of robots, as it empowers them with intelligence and machine learning technologies and enables them to learn and operate accordingly. As a result, many companies are undergoing a digital transformation to meet customers' demands, improve efficiency, and manage new business models. These factors are expected to further drive the growth of the intelligent automation market, making it one of the predominant technologies across industries.