As the industries are getting digitized more and more, most insurance companies constantly invest in IT services to serve their customers better. According to the Mckinsey report, the insurance companies will increase their investments by 200% in RPA and AI. Today's post will focus on how a new generation of technology like Artificial Intelligence (AI) and Robotic process automation (RPA) will revamp the entire insurance industry. Moreover, we will also discuss how they are changing many existing processes and replacing traditional roles with intelligent software, helping adapt to changes. Artificial intelligence covers various technologies, including machine learning, deep learning, natural language processing (NLP), and natural language generation (NLG).

Automation is one of the most rapidly growing job markets right now, incorporating artificial intelligence (AI), machine learning and robotic process automation (RPA). Businesses are realising the untapped potential of intelligent automation. As more adopt automation, those that do not are becoming less productive and will likely be left behind. An awareness of the value of automation is nothing new, but the boom in demand is largely driven by a need for greater efficiency, rapid deployment and scalability. According to Deloitte's 2020 survey, two-thirds of organisations surveyed also note the Covid-19 pandemic's role in accelerating demand for automation.

Artificial intelligence (AI) is increasingly being recognized as the future of customer service. This way of thinking has only been accelerated by the ongoing pandemic as needs for efficiency, agility and productivity continue to rise. But what about robotic process automation (RPA), which is conventionally thought of as a "human replacement"? I'm here to tell you that RPA is a burgeoning application that's leveraging AI, especially AI-driven analytics, to automate tasks. When combined, the two can be used as business and innovation accelerators that not only improve the employee experience, but the customer experience as well, leading to improved customer loyalty, brand reputation and overall bottom-line results.

When you as the patient visits a hospital, your major concern is always all about getting quality healthcare service on time without facing zero difficulties in terms of convenience. Same as you, hospital authorities such as doctors and nurses have a similar concern – giving you quality care while providing you with remarkable hospital experience. But unlike your concerns, their concerns require efforts of all staff members, coordination between all departments, availability of healthcare facilities, proper usage of healthcare software and easy access to medical data of patients to not bring concerns into life to create havoc! This many practices on a large scale by default seem impossible, leaving a large window open for human errors and service delay which definitely affect patient experience and health. Here is where AI and RPA technologies come to rescue.

The present cutting edge innovation makes it less difficult to utilize emerging technologies later on. Incredible algorithms, powerful hardware, and exceptional programs all make it more straightforward to discover future technologies, successfully increasing technological innovations with each discovery. It infers that the technological improvements in each sector add to the significant advancements in the future. Artificial Intelligence, the popular buzzword that has been circling the tech world has introduced many discussions about the advances encompassing it and how it is making its way into the different enterprises. In software engineering and the field of computers, the word artificial engineering has been assuming an extremely prominent job, and lately, this term has been gaining increasing popularity because of the ongoing advances in the field of machine learning and robotics. Machine learning is that circle of artificial intelligence where the machines are accountable to do the end to end everyday tasks and are accepted to be more intelligent than people.

Improving efficiency allows organizations to get even more done in the same amount of time. When it comes to developing apps, low-code allows businesses to quickly build custom applications to suit their needs while Robotic Process Automation (RPA) allows businesses to automate mundane tasks so their human employees can focus on more important work. Appian is known for its low-code software but through a series of recent acquisitions, the company has expanded further into automation by offering customers the ability to automate tasks through RPA and do so intelligently using AI. TechRadar Pro spoke with the company's CTO, Mike Beckley to learn more about its expansion into automation. Low-code is a unique approach to building business applications – fast.

The ubiquitous use of the term "Artificial Intelligence" (AI) in recent years has led to a devaluation in its meaning. This is problematic, as, when utilised effectively, the technology can unlock countless new revenue streams and drastically improve business operations for almost any organisation. One aspect of AI that is already making waves in the business world is Robotic Process Automation (RPA); a facet of AI that can extract and process different types of data to provide actionable insights. In essence, RPA provides a way of automating the menial and basic but essential tasks, such as billing and tax returns, that every company is required to carry out. This has particular potential in the field of enterprise mobility – the use of mobile devices for business. For enterprise mobility, RPA will help businesses do more than just simple mobile device management (MDM).

The common saying around Artificial Intelligence (AI) and Robotic Process Automation (RPA) is that these emerging technologies are job killers and will or perhaps could ultimately make humans obsolete in the workplace. Well, only the smarter heads know that this is just an overdramatic misconception. Instead of feeding into the doomsday prognostication, embracing the many advantages and benefits of AI & RPA is much more of a level- headed play. These efficient technologies empower employees to be more productive and much more efficient so that they possibly maintain a better work-life balance. Robotic Process Automation helps people grow in their careers and in fact create jobs by creating a peaceful harmony in their professional as well as personal lives.

AI and RPA are often mentioned in the same sentence as ML and IoT; they are touted as magical solutions that will transform the way we live and work. For companies with massive legacy tech platforms, overnight change is not that easy -- or is it? Consider this data point: A study by McKinsey & Company determined IT costs per policy for insurers with modernized IT can be 41% lower than that of players with significant legacy systems. Because legacy platforms hold tremendous amounts of proprietary data without which companies cannot function, and moving away from them is deemed too expensive. The downside: those platforms are often not only costly financially, but from a human resources perspective, they are key blockers of agility.

A survey of UK decision makers has found the interest and support for the use of robotic technology in the workplace has seen a notable increase since 2018, suggesting the use of artificial intelligence (AI) in office is set to grow. Conducted by software provider Advanced and detailed in its Annual Trends Survey for 2019-20, the survey focuses on perceptions around workplace robotic technology, including AI and robotic process automation (RPA). It found that more decision makers now see robotic technology as a benefit to the workplace, with 77% of the 1,000 decision makers surveyed now saying they would be happy to work alongside such technologies if it meant that manual processes were reduced. This is a significant jump from last year's survey, where the number stood at just 65%. AI is now also the technology that the most people would like to see in their daily lives, with 38% placing it as the top priority.