Robotic Process Automation (RPA) is a catalyst for business process transformation and innovation, helping your best people concentrate on work aligned strategically to your business goals. Here’s five recent articles that illustrate the importance of artificial intelligence, machine learning and RPA in driving business process transformation across a range of industries:
Cognitive RPA will soon leap past mere automation to help businesses increase customer satisfaction, lower churn and grow revenue, according to David Schatsky, author of “Robotic Process Automation: A Path to the Cognitive Enterprise.” Find out how RPA will revolutionize how companies handle IT processes and other major functions.
Get ready to embrace digital labor. However, digital labor expert and KPMG exec David B. Kirk warns: “Predicting both the investment and anticipated outcomes is more of an art than a science.” Get the insight you need to be prepared for the inevitable march toward robotics in your business.
Artificial Intelligence can help banks’ finance teams reimagine and restructure operating models and processes. Large banks must process huge volumes of data to generate financial reports and satisfy regulatory and compliance requirements. These processes are increasingly standardized and formulaic but still involve large numbers of people performing low-value-added tasks (often in reconciliation and consolidation). This makes them ideal candidates for robotic process automation (RPA). The software “bots” used in RPA can be coded to deal with rules and some exceptions, but it’s the added layer of machine learning across the more complex challenges and frequently changing tasks that make the combination of RPA and AI particularly powerful.
The term ‘robotics’ has been used a lot recently, highlighting how important human input into automated processes really is. Human judgement is of paramount importance when it comes to RPA implementation and only reinforces that the purpose of automotive processes is to streamline human labor, not replace it.
The AI Marketing Revolution Comes to Banking (The Financial Brand) BNY Mellon introduced RPA into its operations to lower costs. This initial deployment is really about how BNY can eliminate menial processes and free up more time for employees. After all, staff should have other value-add activities they can pursue that are more important than solving compliance consistency issues, right? The news from BNY was nonetheless a significant bellwether for the issue of AI in the finance sector.
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