Hyper Automation — The Future of Business Processes

What is hyperautomation?

Components — RPA, AI, Process Mining, etc.

Decision-making and processing unstructured, ambiguous data are what Artificial Intelligence is good at. It helps to automate entire workflows, not just specific tasks. Through certain algorithms, Machine Learning as part of AI ensures constant improvement of processes based on previous experience. ML was invented in the 1950s and has been used for forecasts, fraud detection, to name just a few.

Natural Language Processing (NLP) is AI’s ability to “understand” and respond to human language. A vivid example of this is Siri from Apple.

Optical Character Recognition (OCR) converts any format of text into machine-readable. It automates the process of capturing visual data and interpreting them to perform the required task.

Process Mining is another crucial element. Software systems identify business processes that have efficiency and compliance problems and thus accelerate automation. The result is creating the Digital Twin of an Organization — a virtual clone of a process to test a range of scenarios to find the optimum one and then control if automation runs as expected.

Industry impact

Hyperautomation has a wide range of applications in the banking industry, from marketing to payment operations. Prevention of fraud and money laundering is possible with the help of ML-based predictive modeling. Advanced Analytics assesses borrowers and minimizes risks for the bank, and considerably shortens the decision time for the client.

In insurance, there are many manual operations, such as dealing with claims. Intelligent automation allows validating information and ensuring compliance with high accuracy and speed, round the clock. Processing a plethora of scanned and digital documents and selecting the optimum insurance product for clients are just a few tasks that can be streamlined with the digital workforce.

In retail, digitalization encompasses all core operations: handling orders, logistics, supplies, procurement, etc. AI enables dynamic pricing through real-time analysis of competitor websites and other factors, such as user sentiments, e.g., through social media trends.

AI-based chatbots are becoming a convenient alternative to customer support teams. Instead of only providing pre-defined responses to queries, a new generation of chatbots analyzes response satisfaction rates and user behavior on the website to provide more relevant information. The system behind it also automatically generates smart analytics. It also can handle such tasks as locating data and automatic follow-up on leads.

In healthcare, automation works wonders with smart billing, processing insurance, and claims documentation — tasks that take up thousands of valuable manhours. Doctors do not have to spend time filling in electronic health records manually, thanks to ML-based voice-recognition transcribing systems. Sophisticated AI bots can interact with patients at home, analyze symptoms, and direct them to hospitals if necessary.

Benefits of hyper automation

  • Incomparably (to humans) faster and error-free performance.
  • The absence of mundane tasks contributes to employee satisfaction.
  • Advanced analytics for better decision-making. AI helps not only to retrieve data from business processes but provides valuable insights and potential action plans.
  • End-to-end automation of sophisticated processes and workflows with various datasets.
  • Improved customer experience and ultra-personalization.
  • Higher profitability by considerably augmenting process efficiency.
  • Continuity of improvement thanks to ML.
  • Scalability. Smart automation spares time and resources for growth.

Conclusion

Blackthorn Vision has been in the automation market for more than a decade. We have created business solutions for such industry giants as Rockwell Automation. It is what makes us a trustworthy partner for a digital transformation of your business. If you feel the need to streamline your company and do not know where to start, our Discovery Phase will draw a comprehensive automation map for you. Contact us now to get your customized solution.

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Originally published here.

Blackthorn-vision.com — FROM VISION TO SUCCESS. We empower people to change the future with outstanding technology solutions

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