What is Intelligent Automation?
Intelligent Automation applies robotic process automation (RPA) and other technologies, including artificial intelligence (AI), machine learning (ML), natural language processing (NLP), and low-code process automation (LPA) tools to complex processes. It aims to automate tasks from beginning to end, reducing human effort, minimizing manual errors, and increasing efficiency.
You can count on Intelligent Automation to:
- Process thousands of invoices 90% faster and with utmost accuracy.
- Reduce tedious paperwork associated with claims processing by 95%.
- Enhance customer interactions through personalized responses and efficient problem resolution.
- Reduce delays and improve delivery accuracy, optimizing your supply chain management.
- Optimize production processes, leading to increased productivity and cost savings.
- Act as a bridge across various discrete systems, seamlessly orchestrating work between software bots and humans.
How is Intelligent Automation Different from RPA?
In 2023, the global robotic process automation market reached USD 18.41 billion, projected to surge to USD 178.55 billion by 2033. This growth is anticipated to maintain a significant CAGR of 25.7% from 2024 to 2033. However, with advancements in AI and the introduction of GenAI, there is exponential growth in the adoption of Intelligent Automation solutions that leverage these advanced automation technologies.
RPA is best for automating repetitive, mundane tasks.
RPA solutions use software bots to automate recurring tasks, emulating human actions in a rule-based manner. RPA aims to enhance productivity and process efficiency, freeing employees to work more on complex tasks requiring human intelligence.
Examples of RPA bots include
- automating employee onboarding processes by capturing data from one source and accurately transferring it to another and
- triaging hundreds of email-based routine customer queries and complaints.
Both scenarios would traditionally require employees to spend hours manually updating systems.
Intelligent automation is best for automating tasks that need cognitive intervention.
IA solutions help move beyond RPA-based siloed automation to deliver end-to-end process automation. These solutions introduce layers of intelligent technologies that are complementary to each other, capable of automating complex processes involving humans in addition to tasks automated using RPA or other systems.
While RPA focuses primarily on automating repetitive, rules-based tasks, intelligent automation adds cognitive capabilities, allowing systems to analyze data, make decisions, and adapt to dynamic situations. This enables intelligent automation to handle more complex processes, improve accuracy, and deliver greater value by reducing human intervention and driving deeper insights for decision-making. In essence, while RPA is a valuable tool for automating routine tasks, intelligent automation represents the next level, leveraging AI and ML to achieve higher levels of efficiency, flexibility, and innovation in business operations.
Read a detailed blog post on the critical difference between RPA and Intelligent Automation.
What Technologies does Intelligent Automation Utilize?
Intelligent automation is gaining tremendous traction worldwide because it utilizes the core capabilities of four effective technology components, streamlining complex processes and enabling real impact for businesses’ digital transformational journey. Let’s briefly look at these components:
1. Artificial Intelligence (AI):
AI powers the decision-making capabilities of IA solutions with machine learning, analyzing data to develop a vast knowledge base. IA tools can then make predictions based on this data.
2. Robotic Process Automation (RPA):
Software robots execute repetitive and rules-based tasks across workflow processes. The bots can automate tasks across discrete systems, eliminating the need for complex software integrations. RPA bots can also be trained to meet evolving business demands.
3. Low-code Process Automation (LPA):
LPA tools provide an intuitive interface for users to quickly build and deploy processes and workflows with zero to minimal coding requirements. Nividous' platform, for example, features a drag-and-drop process builder to rapidly create, customize, and automate processes.
4. Intelligent Document Processing (IDP):
IDP leverages AI/ML, NLP, and Optical Character Recognition (OCR) technologies to extract, classify, and interpret various data formats from several sources and document types, including invoices, forms, and contracts. The data is then used for subsequent tasks, further steps, and decision-making. This improves operational efficiency by reducing errors and processing time, enabling organizations to gain valuable insights from their document repositories.
What are the Benefits of IA?
Intelligent automation solutions enable businesses to leverage cutting-edge technologies to streamline operations, boost efficiency, and drive innovation. Moreover, intelligent automation enables organizations to scale their operations seamlessly, achieving higher operational excellence, agility, and competitiveness. Businesses that use IA solutions realize several benefits, as follows but not limited to:
Accelerated Productivity
IA-enabled processes are more efficient and can be deployed 24/7. Intelligent automation frees employees to tackle more value-driven, challenging, and creative responsibilities that adhere to the organization's goals.
Superior Data Accuracy
Data errors are common across processes when handled manually, resulting in unnecessary rework. IA solutions can eliminate data errors that creep in through manual operations. Enhanced accuracy minimizes the potential for costly mistakes, and fosters trust in the integrity of data-driven decision-making.
Rapid Scalability
IA solutions offer flexibility and scalability to meet evolving business needs. Scalability ensures that companies can efficiently handle increased volumes of tasks without the need for significant manual intervention or resource allocation.
Enhanced Insights
Intelligent automation leverages advanced analytics and machine learning algorithms to generate actionable insights from large datasets. These insights provide valuable information for informed decision-making, strategic planning, and identifying areas for optimization and improvement.
Read a detailed blog post on the benefits of intelligent automation here.
What are the Applications/Examples of IA?
IA finds applications across various industries, revolutionizing traditional workflows and enhancing operational efficiency.
In the banking and finance sector,
IA automates account management, invoice processing, expense management, and financial reporting, thereby minimizing errors and expediting financial close cycles.
Within the insurance sector,
IA revolutionizes key processes including policy management, claims processing, underwriting, premium calculation, and regulatory compliance.
Within the healthcare industry,
IA streamlines patient scheduling, medical billing, and claims processing, leading to enhanced patient care and decreased administrative burdens.
Manufacturing
benefits from IA by automating production line monitoring, quality control, and inventory management, leading to increased productivity and cost savings.
Within the logistics sector,
IA transforms operations by automating tasks such as order processing, inventory management, and shipment tracking, leading to increased productivity and streamlined supply chain management.
Customer service departments
leverage IA for chatbots, virtual assistants, and sentiment analysis, enhancing customer experiences and response times.
In human resources,
IA is deployed for recruitment, onboarding, and performance management, optimizing HR processes and employee engagement.
Across sectors, IA solutions continue to innovate and transform operations, driving business growth and competitiveness.
Here is the list of 100 use cases of Intelligent Automation.
Read a detailed blog post on the examples of Intelligent Automation here.
How do You Determine the ROI in Intelligent Automation?
Traditionally, ROI is calculated as a percentage by dividing the investment's cost savings or revenue production by its initial expense. However, automation projects add a new dimension to ROI calculation. The ideal way to calculate a quantitative measure of ROI is to compare the cost of implementing the IA solution to the ongoing cost of the people who manually performed the process.
Nividous, however, recommends looking beyond operational or financial impact and focusing instead on the people performing the work. We call this a human-centric ROI measurement. This is an essential metric as labor markets tighten across the world. For example, the US Chamber of Commerce has reported that finding and retaining talented people is complicated and even harder.
Let's look at the different factors that can impact human-centric ROI measurement:
- Recruitment and retention
- Creating outstanding work Environments
- Increase in the number of creative outlets
- Opportunities for upskilling
- Data-driven decision-making
- Commitment to innovation
So, where does IA fit in? The answer is straightforward – IA humanizes work. Many people are under the assumption that bots take away jobs. At Nividous, we holistically approach automation opportunities. Our platform combines proprietary RPA, AI, and Orchestration tools to provide the best technology stack.
In the dozens of projects we have worked on, the client’s focus was not to displace employees but to redeploy them from repetitive manual work to something more creative and fulfilling. Nividous IA solutions can be swiftly deployed across departments through our same proprietary platform. This ensures complete automation across the organization with minimal investment.
Watch our on-demand webinar on demystifying ROI on Intelligent Automation to learn more.
Achieving End-to-End Automation with Nividous
Nividous has built a comprehensive Intelligent Automation platform that natively combines the power of AI, RPA, and LPA to automate sophisticated business processes from beginning to end. No additional software, integrations, or licensing is required to achieve your automation goals.
Let's briefly look at each of these components:
1. Studio – Design Code-free Automation
The Nividous Studio empowers users to build automation for bots effortlessly using an intuitive drag-and-drop interface. The platform supports the reusability of existing components, fostering rapid automation without the need for technical expertise.
Tailored process recorders cater to desktop apps, web apps, and Citrix environments, facilitating swift and precise automation. The Studio also enables users to test business processes within the same interface.
Click here to discover more about the key features of the Nividous Studio.
2. Control Center: Deploy and Manage Bots
Nividous Control Center is highly scalable and secure. It allows you to schedule, manage, and control your enterprise-wide automation easily. It seamlessly handles all the requests to and from multiple Bots with load-balancing capabilities.
Additionally, it effectively orchestrates work between humans and Bots with an intuitive human-in-the-loop interface for real-time automation monitoring at every stage of the process workflow. Nividous Control Center also provides an intuitive dashboard, allowing bots to be monitored in real-time with a detailed audit trail and access control.
Click here to learn more about the key features of the Nividous Control Center.
3. RPA Bots: Attended and Unattended Automation
Nividous attended Bots work alongside users to automate front-office tasks. In contrast, unattended Bots work independently to automate back-office tasks.
Both attended, and unattended RPA Bots can interact with any existing legacy systems and custom applications to perform various tasks on interfaces such as web, desktop, mainframe, Citrix, and command line.
Click here for a detailed understanding of the critical features of the Nividous RPA Bots.
4. Smart Bots/ IDP – AI-enabled Automation
Nividous Smart Bots allow you to seamlessly classify, extract, and validate data from diverse documents, applications, and sources without the hassle of specialized coding. The Smart Bots have advanced capabilities like Intelligent Document Processing (IDP), Natural Language Processing (NLP), and Predictive Analysis.
Powered by our proprietary Machine Learning (ML) models, Nividous Smart Bots continually learn and adapt, enhancing speed and reliability while slashing operational costs and minimizing errors. There is no need for data scientists or scarce specialists—our solution empowers users to achieve remarkable results without costly third-party integrations/tools.
Click here to discover essential features of the Nividous Smart Bots.
5. Complete Life-Cycle Professional Services
Our experts are fully aware of the challenges that can come up in your digital transformation journey. Our robust implementation approach ensures the successful deployment of IA solutions in complex environments while empowering users with the skills to manage them. These services are provided in 4 phases - Discovery, Implementation, Maintenance, and Center of Excellence (CoE).
Click here to learn more about Nividous professional services.
IA solutions are used for multiple processes in industries as varied as:
- Finance and Accounting
- Human Resources
- Sales and Marketing
- Compliance/Legal Operations
- Customer Service
- Customer Onboarding
- Information Technology
- Supply Chain
- External Vendors and Partners
Meet Your Automation Needs with Nividous
Request a personalized demo of the Nividous Intelligent Automation platform.
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