Home > AssistEdge > Blogs > Intelligent Business Automation: A framework for combining RPA and AI
Intelligent business automation (IBA) is one of the high points of modern-day technologies that swiftly and accurately serve contemporary business needs. However, the foremost challenge currently is the large volume of unstructured and semi-structured data requiring manual intervention in the absence of automation. This is where the role of IBA solutions becomes crucial due to its ability to segregate unstructured data from a humongous set of data information. Hence, it is always advisable to implement such tools and solutions to drive efficient practices in the workspace. Failing this will only result in wasted human work hours and sluggish progress.
The best part of IBA is that Artificial intelligence (AI) is now stretching the scope of Robotic Process Automation (RPA) with the help of IBA. This is achieved by implementing innovative algorithms that deploy predictive analytics to make better-informed decisions. Moreover, repetitive mundane tasks can be undertaken with an infusion of intuitive and actionable insights, yielding intelligent business process automation.
Intelligent Business Automation harnesses the combined potential of RPA, AI, and even intelligent OCR. Be it business process management workflows or handling (un)structured data, IBA relies on the unified information made available across various platforms. This ensures the combined effect of vital details and information accessible to all stakeholders. Furthermore, decision-making engines apply algorithm-based logic to extrapolate existing data and identify potential trends for improving processes.
Such enhancements also ensure sustainable development for future process flows. Consequently, this leads to quicker and more versatile operability for the masses and ergonomic interfaces, augmenting planning for streamlined commercial management. Automation in business intelligence is the future of how companies transact and operate. Gartner predicted that by 2025, 70% of organizations would incorporate structured infrastructure automation for flexible and efficient workflows, increasing by 50% from 20% in 2021.
As IBA can boost productivity with greater capacity or volume to process data, this can enable businesses to meet fluctuating and unexpected demand with a consistently stable yet dynamically capable supply. However, it also drives the main factor of operational contingency by adapting to various factors, favoring and prioritizing those that matter the most.
Significant impacting variables include the ability to drive commercially affiliated processes, including production and profitable exchanges through intelligence-based information. For instance, demand sensing comes from AI-based algorithmic computation to detect demand signals. Thus, an intelligent business automation platform offers a seamless flow of businesses by encompassing everything they need in one unified platform.
IBA mainly depends on RPA and AI, which are the backbone for automating processes. Therefore, the method includes robust automatable frameworks where AI can be easily implemented. Moreover, various system formats must share common or universal compatibility and support to ensure a seamless transition.
Hence, AI is more focused on analyzing the needful with an intelligent digital outlook, whereas Robotic Process Automation capitalizes on this with an added measure of repetitive task assignability. This fulfills all monotonous yet essential tasks, such as data collation (promoting proactively reactive remedial actions). As per a survey by Gartner, only 50% of enterprises will develop skills for infrastructure automation across hybrid and multi-cloud platforms’, an increase of 40% from less than 10% in 2021.
The synergistic effect of two or more factors tends to have a greater than combined overall efficacy. These streamlined and accurate plus productive results are achieved using a variety of methods, including:
More and more businesses may accept AI & RPA-based IBA within their operations. Whether healthcare or financial or banking vendors, everyone is gearing up to revolutionize and automate their vital processes to deliver better service to consumers. In addition, data-based algorithms will power low or no-code platforms, be it within the retail or wholesale industries.
When implementing a new strategy in business, companies should always be mindful of the implications on existing processes to enrich and not impede them in any way. Hence, firms need to plan what needs improvement, how this is intended, which objectives we must fulfill, by when (with set feasible timelines), where it needs to be applied, and why. Once they have clarity, they can then proceed with the implementation accordingly. Hence, these will ensure that the ideal version of IBA is constantly rolled out across any business to automate its processes.
Team EdgeVerveMore blogs from Team EdgeVerve >