Artificial intelligence has revolutionised every piece of technology it has touched. However, this augmentation -- for better or worse -- has also brought up a lot of confusion. With more and more AI application coming up in different fields, specifically in automation like Cognitive Automation, the conditions associated with it give the impression that the technology is artificially intelligent and seems to dilute the real meaning behind it. This poses a more significant problem as what qualifies as a mere application of AI can be called artificial intelligence. When we talk about automation and AI, there is a lot of buzz around cognitive automation as it uses technology to mimic human behaviour and precisely the reason why some people call it as cognitive automation artificial intelligence.
Cognitive technologies are now impacting almost every aspect of people's lives. Not only are these technologies an emerging source of competitive advantage for businesses and the economy, but they also have the potential to improve societal well-being.1 They can be a disruptive force in the way work gets done and employers interact with workers, customers, and suppliers, as well as the trade-offs that conventionally govern the relationship between speed, cost, and quality. This primer aims to help readers understand these technologies and the emerging landscape better, illustrate their transformational potential, and demonstrate how business and government leaders can adopt them in driving smarter insights and stronger organizational outcomes. There is no single definition of cognitive technologies.
Automation Anywhere has rapidly grown a customer base of more than 900 enterprises becoming the global leader in robotic process automation (RPA). Its platform is the most intuitive to use and the fastest to deploy and scale. Dozens of Automation Anywhere customers have deployed intelligent digital workforces that include more than 1,000 digital workers, or bots. This is possible because business users do not need programming skills to create Automation Anywhere bots capable of saving millions of dollars annually. Automation Anywhere RPA is so intuitive and easy to learn that business users can design bots in just minutes and get them into production within days.
Artificial intelligence is being applied to a broad range of applications from self-driving vehicles to predictive maintenance. Some of the more mundane, and even boring, applications are focused on helping improve automation of back office operations. There has been a real acceleration in the use of automation tools for back office operation, with much attention (and money) flowing to Robotic Process Automation (RPA) tools. However, these tools are not intelligent, per se. None of the vendors in the space are claiming that their tools can be classified as AI, however, increasingly end-users are seeing process automation tools as solving issues of digitization of processes that are required to adopt more intelligent, machine learning-based approaches for process discovery, definition, orchestration, and optimization.
Most financial institutions realize that the volume of data and analytics required for future success exceeds current processing capabilities. To maximize the potential of machine learning, natural language processing, chatbots, robotic processing automation and intelligent analytics, new technologies will be required.