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Digital transformation isn’t breaking news, but now that it is progressing at an unprecedented rate, enterprises should make it a part of their strategy to on-board this wave. To overcome this breakneck pace of digital change, companies across sectors have begun adopting digital-led business models and automating processes to drive efficiency by reducing costs and improving operations and customer experience.
The past few years have witnessed intensifying interest in Robotic Process Automation (RPA), and automation remained the top strategic agenda for organizations seeking to streamline mundane and monotonous processes and adopt a more customer-centric approach. However, today, digital transformation is a journey and not a destination and the current paradigm goes beyond replication of existing tasks/processes. Transforming business processes to unlock significant business value through a potent combination of automation with Artificial Intelligence (AI) is the way ahead.
Companies in today’s hyper-competitive landscape are looking to go beyond automating tasks, towards creating new and ongoing value for the organization. Encompassing technologies like machine vision, natural language processing (NLP) and machine learning (ML), AI can help create an intelligent automation system capable of delivering far more potent capabilities for fraud prevention, brand management, customer service, software testing and development, and human resource management.
Intelligent Automation is the key differentiator for businesses to navigate their digital transformation journey. These technologies are just beginning to emerge and their business benefits are much broader. For instance, classifying unstructured data using advanced capabilities such as Natural Language Processing and Optical Character Recognition is just one example. Using AI capabilities to identify processes for automation or auto-scaling existing bots or conducting sentiment analysis to drive decision making, are some more business benefits.
Every business, be it retail, telecom, automotive or any department, HR, finance, operations should be future-ready with a focus on innovation. EdgeVerve offers intelligent automation built for everyone with its solid AssistEdge, a RPA solution powered by the purposeful AI platform XtractEdge™. It is built for enterprises who are ready to scale and reap the benefits of digital transformation led by automation and AI.
Currently, AssistEdge is already helping drive efficiency and deliver concrete business value for enterprises by automating 10,000+ processes across 50+ countries, saving $2billion for customers across industries.
The convergence of RPA-AI delivered by AssistEdge enables an organization span effectively through the complete automation continuum, from deterministic through predictive, to cognitive stages. It leads an enterprise to become an insights driven business by utilising data from automation of processes. Driven by ML and NLP capabilities of AI, it sets the foundation to derive relevant business insights.
For instance, RPA addresses specific challenges in the financial world, helping banks minimize human intervention in executing rules-based tasks and enhancing compliance. However, RPA augmented by AI goes far beyond, by emulating complex processes that need some amount of judgement or decision-making capability. It can improve the detection of financial fraud by learning from the extensive customer data driven insights. Similarly, automation for retail is capable of addressing more complex challenges by helping retailers not only react to consumer needs but also proactively predict and prepare for them. The telecom industry could create new personalized customer experiences, improved customer response time and offer customers the right plan at the right time. Similarly, intelligent automation for data-driven healthcare can fundamentally transform the patient experience by enabling proactive care, and enhance the drug development pipeline by accelerating the process of drug discovery, ultimately unlocking massive revenues for businesses in the sector.
With end-to-end solutions combining AssistEdge and XtractEdge, EdgeVerve will continue to lead the way as well as guide enterprises in their digital transformation journey with intelligent automation built for everyone.
Global Head - Edge Products and XtractEdge
Atul is the Global Head of Edge Products and XtractEdge. He is responsible for the overall business portfolio of EdgeVerve. He is helping customers across the Intelligent Automation continuum from deterministic to predictive to cognitive transformation, by leveraging the AI and Automation platforms and products at EdgeVerve.More blogs from Atul Soneja >