If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."
However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …
Robotic Process Automation (RPA) and Artificial Intelligence (AI) have garnered a lot of hype lately driving never-before-seen productivity across businesses! The global RPA market is showing an interesting growth and is poised to reach US$10.7 billion by 2027, and its bigger cousin the AI market is forecast to reach a monumental US$390.9 billion by 2025. However, despite the many conversations these promising disruptive technologies have sparked recently, there is still a lot of confusion that looms over the crucial differentiating factors, USPs, and how both these technologies increasingly to work in an amazing tandem. Modern tech-powered enterprises integrate both simple processes and those rich in complex decision making, needing a set of complementary technologies to handle the full range of their workflows. RPA and AI combine to form a winning team, Robotic Process Automation systems have a clear, step-by-step flow, while Artificial Intelligence powers to augment and improve human-inspired machine decision making a complex mix-a-mix.
Robotic process automation is the use of specialized computer programs, known as software robots, to automate and standardize repeatable business processes. Imagine a robot sitting in front of a computer looking at the same applications and performing the same keystrokes as a person would. While robotic process automation does not involve any form of physical robots, software robots mimic human activities by interacting with applications in the same way that a person does. Working as a virtual business assistant, bots complete tedious tasks, freeing up time for employees to concentrate on more engaging, revenue-generating tasks. Part of the beauty of robotic process automation technology is that it offers even non-technical employees the tools to configure their own software robots to solve automation challenges.
Although RPA tools make significant strides, automating routine tasks and allowing humans to focus on more sophisticated ones, yet, they can't adjust their procedures to self-execution without human help. On the other hand, there are natural language processing tools, with all their power to finally automate routine tasks.
WorkFusion, a top provider of Intelligent Automation technology, announced it has been placed by Gartner in the Leaders quadrant of the 2020 "Magic Quadrant for Robotic Process Automation."1 Gartner recognized WorkFusion based on its completeness of vision and ability to execute. "We believe Gartner's recognition of WorkFusion in the Leaders quadrant validates our customer-first approach -- with pre-built automation solutions designed to lower costs dramatically, and in record time, for areas with higher levels of document-related manual and cognitive work across some of the most critical processes in Banking, Financial Services, Insurance, Healthcare and other sectors, " said WorkFusion CEO Alex Lyashok. "The right automation approach is to be able to deliver meaningful and measurable benefits to businesses in weeks or months, not years, and without disrupting core infrastructure or systems. As an example, for organizations in regulated-service industries such as Banking, Financial Services and Insurance (BFSI), the WorkFusion Intelligent Automation Cloud platform can quickly and easily manage document-heavy processes -- and in some cases can cut costs by 50% within 3 months," Lyashok said.
Intelligent Automation has become one of those "all encapsulating" buzzwords, claiming to deliver everything from scale to better performance & operations. Unfortunately, relying on search engines to understand its meaning may leave you rather confused. Some would call it'an advanced form of RPA (Robotic Process Automation)', while others use it interchangeably with the term'digital transformation'. So, let's ignore the jargon for now and understand what it really means? And more importantly, how your business can benefit from it?
Customer experience ranking for Kryon's robotic process automation (RPA) products and services increased by seven points compared to previous score Kryon, the leading full-cycle automation solution provider known for its customer-centric approach to robotic process automation (RPA) and process discovery, revealed its latest Net Promoter Score (NPS) of 68. The NPS score, a key indicator of overall customer satisfaction, is based on the results of an opt-in survey of Kryon's existing enterprise RPA customers. The June NPS score exceeds Kryon's prior score, which was already above average at 61. The jump in satisfaction is largely due to Kryon's commitment to customer support and constant dialogue with customers on how to make their experiences better. "RPA is all about relentless improvement, and Kryon not only builds that into our products but we make it a core value of our company. The seven-point boost in customer satisfaction is a testament to the hard work and commitment of our customer success and professional services teams. They never stop finding new ways to improve the customer experience of Kryon's Full-Cycle Automation Suite," said Ohad Barnoy, Chief Customer Success Officer for Kryon.
Recently, IBM Services talked about how the'big three' RPA vendors (Automation Anywhere, Blue Prism, and UiPath) are now supported by its own platform, "Essentials for Automation." Is it too much to ask for IBM to compete in robotic process automation as opposed to supporting the biggest beneficiaries of RPA growth? While their automation executives will probably say they've "already moved past that" and on to the next buzzword – hyperautomation – it appears that IBM has made a move into RPA with their recent acquisition of Brazilian RPA firm WDG Automation. Terms of the deal weren't disclosed, but an article by ZDNet talks about the trend of large enterprise vendors are acquiring smaller RPA firms (Microsoft with Softmotive and Appian with Novayre). The article goes on to talk about how "WDG Automation's portfolio includes RPA, automation, interactive voice response, and chatbots, as well as technology to create automations without IT help."
Robotic Process Automation (RPA), which allows for the automation of the tasks of workers, has been one of the hottest categories in tech. The reason is actually simple: the ROI (Return on Investment) has generally been fairly high. Yet there are some nagging issues. And perhaps the biggest is the scaling of the technology. But AI (Artificial Intelligence) is likely to help out.
One of the ultimate goals of artificial intelligence is the ability for machines to operate on their own, with little or any human interaction. This idea of autonomous systems makes up one of the seven patterns of AI that represents the common ways that organizations are applying AI. While some of the patterns are focused on predictive analytics or conversational patterns, or systems that can recognize things in the world around us, those patterns still involve human interaction. After all, we need humans to be involved in conversational or recognition systems. However, the autonomous pattern is much more complicated as we're asking a machine to do something in the real world without a human in the loop.
Robotic process automation (RPA) today is progressing rapidly in practically all the fields, not in a minute but every second. With this quick advancement in technology, huge development has been seen worldwide in the automation industry. The use of automation tools is in constant development and it is anticipated for more growth in the future. The robotic process automation is one of the major transformations in the automation industry, and it is likely to reach higher potential concerning utilization and staff performance in the upcoming year. Robotic process automation especially focuses on the process automation of those enterprises which are mostly business specific and are handled by people. Utilizing RPA, all the tasks would be automated effectively, and in the future, the robotics oriented automated devices will be exceptionally powerful.