Intelligent Automation systems are created to solve complex business challenges, streamline procedures, lower costs, and increase performance. Businesses that do not automate anything, in order to meet increased and dynamic customer demands will not be able to survive. Intelligent Automation (IA) is a technology that merges robotic process automation (RPA) and artificial intelligence (AI) to enhance business process automation and accelerate digital transformation.
A lot of industries are disrupted through Intelligent Automation Solutions. Let’s check them out.
Intelligent Automation tools assist wealth management firms in analysing a huge array of existing data in order to better understand past investment results, make more precise future forecasts, and gauge market trends in near real-time. These technologies may also assist FinTech companies in meeting regulatory compliance and expectations by substantially lowering the risk of human error.
Intelligent Automation technologies have been adopted by FinTech companies to automate almost every part of the business process. Intelligent Automation enables FinTech companies to provide intelligent agents such as virtual assistants and chatbots by combining technologies such as Artificial Intelligence, Machine Learning, Natural Language Processing, Computer Vision, and others. Such cognitive agents have influenced the way consumers interact with financial companies by studying new structured and unstructured datasets and making rational decisions.
Intelligent solutions took over unstructured data processing and automated tasks such as gathering and analysing diagnostic results, pharmacy & laboratory operations, and so on, in a short time frame with improved performance, when the Healthcare industry was struggling with data that involved not only text but also video and images.
Now, the healthcare industry can provide customised patient care with virtual nurses, patient management robots with speech and facial recognition, and AR/VR innovations, ensuring superior patient and employee satisfaction. Healthcare professionals can commit more human resources to patient care when Intelligent Automation systems are implemented because IA takes care of the remaining time-consuming mundane activities.
Automation has impacted healthcare in a variety of ways, including health record digitization, patient journey management, stock management, unstructured data processing, contact centre process automation, and so on.
Logistics and Transportation Industry
Customers’ logistics and transportation preferences have shifted dramatically as a result of widespread digitization. To meet the growing and fluctuating consumer demands, Intelligent Automation solution providers assist companies in streamlining and optimising business operations such as inventory and warehouse network management, transportation and route planning. IA solutions, which are guided by insights and forecasts, assist companies in being more successful, meeting consumer needs, and making smarter, quicker decisions.
Intelligent Automation technologies have helped the complex and fragmented Transportation & Logistics industry become more responsive and straightforward while using less resources – driverless cars, autonomous vehicles and drone taxis are only a few of the most exciting intelligent automation applications in this industry.
Intelligent Automation’s pricing analytics lets retailers change prices based on consumer intent and real-time market conditions. It can also collect consumer feedback from a variety of social media outlets, allowing retailers to make more educated decisions. IA increases the quality of the retailer’s operations, lowers prices, and provides a better customer experience.
Retailers can now deliver customised deals to each customer, thanks to artificial intelligence injected into Robotic Process Automation (RPA). Intelligent Automation systems analyse the vast amounts of data produced by various customer touch points in order to provide consumers with a smooth and error-free shopping experience.
One of the applications of IA in the retail industry is assistive body measurement solutions, which uses cutting-edge Artificial Intelligence and computer vision technology to automate and rapid body measurement and clothing recommendations for their customers reliably and efficiently.
Intelligent Automation blends the task execution capabilities of RPA with the machine learning and analysis capabilities of automated process discovery and process analytics, as well as cognitive technology like computer vision, Natural Language Processing, and fuzzy logic, to expand the horizons of business process automation by an order of magnitude. It encompasses the entire automation journey—discovery, automation, and optimization—automating any front- or back-office business operation, as well as coordinating work through human-bot groups.