There is plenty of hype around Artificial Intelligence (AI) and Robotic Process Automation (RPA) in the present time. Both of these technologies are gaining high popularity in the world of entrepreneurship all because of the excellent service provided towards the processing of the business. These two high-end technologies are capable of driving significant growth and generating new sources of value for enterprises.
Two disruptive technologies: Great alone, magical when combined
Many aspiring businesses who are using any of the technologies individually are now looking forward to combining both AI and RPA and transform it into an irresistible technology combination. AI and RPA are two different technologies but they complement each other. But before enterprises integrate these two technologies, they must have a clear picture of what they do and how they can work together to deliver a higher value to your enterprise.
Let's have a brief overview of both worlds -
A look into Artificial Intelligence
Artificial intelligence enables a machine to imitate the human way of interacting or making decisions. The machines with the power of AI can handle complex tasks like interacting with humans in an empathetic and human-like way, automating tasks, setting alerts for potential emergencies, predicting human behavior and so on. Machine learning and deep learning are the two underlying technology of AI. It has the ability to keep learning with each interaction it has with humans. AI has the ability of self-evolution too, which makes it smarter with every conversation or task it comes across.
RPA: Robots, at the best of it
The Robotic Process Automation or RPA is a class of software that can replicate the way humans operate a computer system while running businesses of any kind. This process mimics exactly what the human operators do such as logging into a system, entering data, putting formulae and clicking 'ENTER'. RPA can handle tasks like entering data in Enterprise Resource Planning systems or Customer Relationship Management systems or office applications exactly how humans do.
Using RPA is much cost efficient than employing humans to do the same amount of work. Along with cost saving, RPAs provide accurate & compliance service with improved responsiveness.
Do Enterprises Really need AI in Robotic Process Automation?
We came across both the technologies and found both of them working fine for enterprises.
If both are going fine then why the buzz of AI in RPA has come around? Do enterprises really need to adapt AI for RPAs or it is just a fancy add-on?
Well, the answer is though both are giving its best to the enterprises, when they combine, the technology becomes a really powerful one. Both the technologies complement and empowers each other in various ways.
Simply put, AI is the brain of the RPA. RPAs are the bots which work as per the instructions or programs fed into it. But when you add AI to your RPA, your RPA gets the power to think, learn and exercise accordingly.
Here is an example to understand the same in a better way -
Let’s assume, one of your clients has sent you an email with an attachment of an invoice. In this scenario, your RPA can download the invoice into a pre-defined folder and create the bills in the accounting software through copy and paste function.
On the other hand, AI in your RPA can analyze the invoice, extract the most relevant data such as invoice number, invoice due date, amount due, suppliers name and much more.
Here in this scenario, AI enabled RPA can give the enterprises more sophisticated data because of the 'thinking capability' of AI. The invoices are generally data which are semi-structured as different suppliers may come up with different invoice templates or formats. AI, with its intelligence, can read invoices in different formats and extract all the data that can be extracted.
A Chunk of Predictive Data on RPA Market-
A study done by Forbes came up with some mind-blowing data on RPA market. Let’s have a look -
- More than 40% of enterprises will create state-of-the-art digital workers by combining AI with Robotic Process Automation (RPA).
- By the end of 2019, automation will eliminate 20% of all service desk interactions, due to a successful combination of cognitive systems, RPA, and various chatbot technologies.
AI-assisted RPA: It’s trending
AI, being the brain of RPA, can replace human involvement in work dispatching. They can monitor and survey, systems and business processes with much excellence. AI in RPA has the ability to unlock new levels of value in two primary ways:
a) extending the horizons of RPA within currently enables processes.
b) Increasing the yield of robotics that was previously unfit for automation.
interface: the platform for AI in RPA
interface can be your beacon light throughout your journey of making your RPA more promising with the power of AI. We, at interface, create a platform for building AI-powered Intelligent Virtual Assistants (IVA) which can be the best fit for RPA. We are a proven platform for IVAs which can support over 10,000 conversations in a second. With multiple delivery centers, we have powered global clients with the power of AI enabled IVAs. To support enterprises we have a managed services team and multiple delivery centers across the world. So join hands with interface and let the power of AI enhance your RPA. Click here to request for a demo now.
- Artificial intelligence in business & finance in 2019 – Part 2/2
- Artificial intelligence in business in 2019
- Artificial intelligence, humanity and our jobs. What does it all mean?
- Artificial Intelligence. A conversation with Alibaba's Jack Ma & Tesla's Elon Musk
- Artificial intelligence in the food & service industry
- What and Why - Conversational Artificial Intelligence
- Neural networks, deep learning, AI & Jürgen Schmidhuber.
- intelligence made instant. How AI will affect us all
- Fintech – Financial Platforms of The Future
- Fintech is the Future of Banking