Robotic process automation (RPA) has been considered important for driving digital transformation by 96% of decision-makers, according to a report by Blue Prism, a UK-based RPA company. About 84% of business decision-makers see RPA as a solution to global productivity problems. RPA is used to streamline enterprise ops and reduce costs by automating processes, which enables business users to devote more time to serving customers.
1. Oracle’s HCM Cloud enables better workforce management. 2. It provides personalised employee experience and helps them leverage highly configurable workflows that offer scalability and localisation. 3. Mobile app and HR conversational chatbots have enabled employee retention and maximized employee experience. 4. HCM Cloud with RPA handles repetitive tasks, reducing manual errors. 5. Experimentations with FR-enabled attendance systems are going on.
Infosys launched an AI-driven ‘Cognitive Email Workbench’ solution for enterprises to augment query management and scale helpdesk operations. The tech giant has leveraged its partnership with RPA provider Blue Prism to develop the solution to enhance productivity and customer satisfaction. The solution allows enterprises to eliminate manual resolution and build near-touchless contact centres. It also adds skills for enabling assisted and unassisted e-mail responses.
Intelligent automation (IA) and robotic process automation (RPA) in e-KYC automate vital tasks like doc handling, loan disbursement, loan repayment, regulatory reporting; reduces average handle time. AI-equipped bots can enhance customer service. Plus, decreases reliance on employees. AI, ML can analyse Individual creditworthiness (ability to repay loan) using loan/credit history, reducing risked lending.
Robots are often connected to a network and run via software. Undetected vulnerabilities can be used by hackers to hide malicious code, steal info etc. Infosec researchers found such flaws in robots made by ABB Ltd. – world’s largest bot maker. It used the ‘Robot Operating System Industrial’. Ros-I’s software component would have allowed the attacker to steal sensitive data and control the robot’s movements. The vulnerabilities have been fixed by ABB and Ros consortium.
Automation is a highly-invested tech these days. But which automation is the best to invest in? Robotic Process Automation aka RPA works on predefined logic; eg traditional chatbots. It is easy to implement and lacks a self-learning ability. Conversely, cognitive automation is RPA with AI, ML’s self-learning capabilities; minimizes human intervention. Its implementation time is high. Experts suggest firms to first invest in RPA, then move to CA.
The COVID-19 pandemic has not only risked individuals’ lives but also impacted the economy. Technology, mainly robotics and AI, can help revive the fallen economy without posing a threat to lives. Robots can increase production efficiency. This is extremely useful in high-precision industries like medical sciences. Military and large-scale manufacturing industries are the two main users. AI is currently being used in health monitoring, temperature screening etc.
A survey by Automation Anywhere – a global leader in RPA said that one in four organisations expect more than 80% of their workforce to be a digital workforce in the world after COVID-19. The pandemic has spread a new wave of digitalisation, which will revolutionise our way of living. It surveyed more than 5,000 senior executives from mid-size to large organizations in over 20 countries across India, the Middle East and emerging markets in Africa and South Asia.
Emerging technologies such as artificial intelligence (AI) and robotic process automation (RPA) are swiftly disrupting almost every aspect of our lives. With the technology expected to transform several mundane jobs in future, the Indian government to seems to have woken up to the benefits of AI. It is making strong efforts to develop a robust ecosystem around AI, which is also touted to be a technology to watch for in the post-COVID-19 world.