IBM: top five ways AI can enhance RPA
“RPA is a multi-billion-dollar industry, and growing. A technology that creates and uses so-called “software robots” to supplement human work, RPA is a critical part of the automation process,” commented in a public statement.
With its capabilities to reduce repetitive tasks, solve complex IT problems and increase productivity, efficiency and resiliency, the robotic process automation (RPA) industry is estimated to be a US$10.7bn industry by 2027.
With this in mind, Michael Gilfix, IBM’s Vice President for Cloud Integration at IBM details the relationship between RPA and AI in addition to how the technology will transform the future of work.
1. Unlocking the full power of RPA with AI
When it comes to RPA, Gilfix details that the technology can be used to complete tasks that have predictable steps, while AI insights can help drive people to take action. However, “when RPA is paired with AI capabilities like natural language processing, unstructured content extraction and exception handling, the potential for enhanced productivity is enormous,” commented Gilfix.
2. COVID-19 has accelerated the demand
Following the impact of COVID-19, dynamic customer demand, market disruption and remote working, has increased the demand for intelligent automation of both customer and non customer facing operations.
“RPA is an excellent tool for maximising the benefits of document digitisation. When documents are digitised and brought online, software robots can drive users to self-service options and reduce processing overhead. This aspect of RPA is leading a lot of people to look at automation who weren’t looking at it before,” added Gilfix.
3. As businesses emerge from COVID-19, the use of RPA is expected to increase
As the COVID-19 pandemic increases uncertainty within the economy, Gilfix explains that digitisation and automation is expected to be a core element for companies and their ability to adapt to rapidly changing conditions and to scale sustainably.
4. Vast potential for business and IT operations
“IDC predicts that, by 2024, enterprises powered by AI will be able to respond to customers, competitors, regulators and partners than those that aren’t using AI,” notes Gilfix. RPA has huge potential for cost savings, with this technology IT system breakdown problems can be quickly resolved by software robots.
5. RPA is reinventing work
“More broadly, RPA technology will allow people to ask themselves, ‘If I could use my time differently, what would I do?’ Tons of us have to do many menial tasks that aren’t what we really want to do, or what produces value,” details Gilfix who believes that the technology enables people to harness their time differently creating a more sustainable value.