Business-process reengineering (BPR) is a generic term covering a variety of perspectives on how to change organizations. There are at least two distinct roles for AI in BPR. One role is as an enabling technology for reengineered processes. A second, less common but potentially important role is in tools to support the change process itself.
A parametric point process model is developed, with modeling based on the assumption that sequential observations often share latent phenomena, while also possessing idiosyncratic effects. An alternating optimization method is proposed to learn a "registered" point process that accounts for shared structure, as well as "warping" functions that characterize idiosyncratic aspects of each observed sequence. Under reasonable constraints, in each iteration we update the sample-specific warping functions by solving a set of constrained nonlinear programming problems in parallel, and update the model by maximum likelihood estimation. The justifiability, complexity and robustness of the proposed method are investigated in detail, and the influence of sequence stitching on the learning results is examined empirically. Experiments on both synthetic and real-world data demonstrate that the method yields explainable point process models, achieving encouraging results compared to state-of-the-art methods.
Business Process Management (BPM) is a discipline that helps organizations mobilize resources, automate mundane manual tasks, measure and improve business automation processes and enable self-service through business intelligence. Traditionally the concept of BPM has centered around the priority of cost-cutting and process atomization alone. However, digital transformation in this modern world has revolutionized and the focus has now shifted towards improving customer service. Today, as Artificial Intelligence (AI) becomes more prevalent, businesses are considering whether making AI Chatbots a part of BPM tools will allow companies to optimize work and cut human errors out of processes while improving service to customers. Based on a report from the research firm Forrester's, Rob Koplowitz mentions, Business process management (BPM) is in the throes of an extreme makeover and here are the areas where BPM will evolve.
Process mining has evolved into a mainstream approach to discover and improve business processes, and its market is projected to grow by 40-50% by passing $1 billion in 2022. It is being applied to numerous sectors and departments, ranging from healthcare to logistics. Case studies have shown that retailers, telco, and finance companies were some of the top beneficiaries of process mining. In this article, we explore experts' opinions, and we leverage our own research to predict process mining trends in 2022, and how businesses can benefit from these trends. Wil van der Aalst, the founder of process mining, states that he observes a shift towards more integrated tools and capabilities in the process mining market.