Medb Corcoran, Ireland lead for Accenture Labs, talks about her career journey and why data skills will be critical for businesses going forward. As the Ireland lead for Accenture Labs, Medb Corcoran oversees a team of AI researchers that seeks to address critical business problems with tools such as machine learning, natural language processing and knowledge representation. This team is based at The Dock, Accenture's R&D and innovation centre in Dublin. Corcoran is also the company's global responsible AI lead for technology innovation, helping organisations integrate a data-driven assessment of algorithmic fairness into their processes. Here, she reflects on her career and why she believes workplaces of the future will rely on data skills like never before.
More and more enterprises are turning to a promising technology called RPA (robotic process automation) to become more productive and efficient. Successful implementation also helps to cut costs and reduce error rates. RPA can automate mundane and predictable tasks and processes leaving employees to focus more on high-value work. Other companies, see RPA as the next step before fully adopting intelligent automation technology such as machine learning and artificial intelligence. RPA is one of the fastest-growing sectors in the field of enterprise technology. In 2018 RPA software soared in value to $864 million, a growth of over 63%. In the course of this article, we clearly explain exactly what RPA really is and how it works. To help our understanding we will also explore the potential benefits and disadvantages of this technology. Finally, we will highlight some of the most powerful and exciting ways in which it is already transforming enterprises in a range of industries. Robotic Process Automation, or RPA for short, is a way of automating structured, repetitive, or rules-based tasks and processes. It has a number of different applications. Its tools can capture data, retrieve information, communicate with other digital systems and process transactions. Implementation can help to prevent human error, particularly when charged with completing long, repetitive tasks. It can also reduce labor costs. A report by Deloitte revealed that one large, commercial bank implemented RPA into 85 software bots. These were used to tackle 13 processes interacting with 1.5 million requests in a year.
Accenture is a global professional services company with leading capabilities in digital, cloud and security. They are known for delivering unmatched experience and specialized skills across more than 40 industries, through their Strategy and Consulting, Interactive, Technology and Operations services--all powered by the world's largest network of Advanced Technology and Intelligent Operations centers. Their 506,000 people deliver on the promise of technology and human ingenuity every day, and serve clients in more than 120 countries. Accenture embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Laetitia Cailleteau is the Managing Director, UKI Emerging Technology and Global Lead for Conversational AI for Accenture.
AI Daily Roundup starts today! We are covering the top updates from around the world. The updates will feature state-of-the-art capabilities in artificial intelligence, Machine Learning, Robotic Process Automation, Fintech and human-system interactions. We will cover the role of AI Daily Roundup and their application in various industries and daily lives. Datadobi, the global leader in unstructured data management software, announced it has been selected by award-winning solutions provider, Computex Technology Solutions, to migrate the data of a business-critical application for one of the largest financial and professional services providers in the world.
For the third straight year, Deloitte surveyed executives about their companies' sentiments and practices regarding AI technologies. We were particularly interested in understanding what it will take to stay ahead of the pack as AI adoption grows--and we wanted to learn how adopters are managing risk around the technologies as AI governance, trust, and ethics become more of a boardroom issue. Get the Deloitte Insights app. Adopters continue to have confidence in AI technologies' ability to drive value and advantage. We see increasing levels of AI technology implementation and financial investment. Adopters say they are realizing competitive advantage and expect AI-powered transformation to happen for both their organization and industry. Early-mover advantage may fade soon. As adoption becomes ubiquitous, AI-powered organizations may have to work harder to maintain an edge over their industry peers.
The AI in Enterprise Accounting Market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2020-2025). The assessment provides a 360 view and insights, outlining the key outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions for improved profitability. In addition, the study helps venture or private players in understanding the companies more precisely to make better-informed decisions. The AI in Enterprise Accounting Market study covers current status, % share, future patterns, development rate, SWOT examination, sales channels, to anticipate growth scenarios for years 2020-2025.
Professional services company Accenture has expanded its footprint in digital engineering with the planned acquisition of systems integrator, PLM Systems. Turin-based PLM – which specializes in designing and building IT systems for product lifecycle management across automotive, industrial equipment, and defense and aerospace companies – will join Accenture's Industry X.0 innovation hub in Italy. Accenture said the acquisition of PLM Systems would strengthen its ability to help clients improve how they generate, manage and benefit from product data in design, engineering and manufacturing. Digital technologies like artificial intelligence are taking product lifecycle management to a new level, said Nigel Stavey, managing director and global lead of Accenture Industry X.0. "This offers industrial companies a huge opportunity to transform a core business function – engineering. PLM Systems' expertise and experience in product lifecycle management will allow us to help clients make the best use of their product data."
If you are a major manufacturer in 2020 and you have employed the likes of Deloitte, McKinsey or PWC, it is safe to assume that they have advised you to invest big in artificial intelligence and machine learning. According to reports by Deloitte and McKinsey, machine learning improves product quality and has the potential to double cash flow. Let's take a look at three global manufacturers who are already on board. SEE ALSO: Introduction to machine learning in Node.js Siemens is the largest industrial manufacturer in Europe, and whether they are putting together planes, trains or automobiles, their goal is to solve production challenges efficiently and sustainably.
The idea of robots picking items from warehouse shelves may still seem futuristic today. But the future may be closer than many people think. Of the almost 1 million robots we expect to be sold for enterprise use in 2020, we predict that just over half of them will be professional service robots, generating more than US$16 billion in revenue--30 percent more than in 2019. What's more, with regard to enterprise spending, the market for professional service robots is growing much faster than that for industrial robots (figure 1). If recent trends are any sign, professional service robots may pass industrial robots in terms of units in 2020 and revenue--in 2021. That's not to say that the industrial robotics market is hurting.
Accenture Completes Acquisition of Mudano, Enhancing Its Analytics and Data Transformation Services to Financial Services Firms in the UK LONDON; Feb. 28, 2020 – Accenture (NYSE: ACN) has completed its acquisition of Mudano, a strategic data consultancy to U.K. financial services firms. The acquisition enhances Accenture's analytics, data and artificial intelligence (AI) transformation capabilities. Terms of the transaction were not disclosed. Mudano's team of industry-focused data professionals will join Accenture Applied Intelligence. Mudano was founded in 2014 and is headquartered in London, with a presence in Edinburgh, Scotland.