- Intelligent Process Automation (IPA): Combining RPA and AI
- Why Combine RPA and AI?
- Intelligent Process Automation Use Cases
- Ensuring Intelligent Automation Success
- How can Tx assist with the Implementation of Intelligent Process Automation?
- Summary
Businesses now operate in the digital age, where automation is becoming a core strategy concept. Imagine a highly intelligent computer program learning and adapting independently, making intelligent decisions by tackling complexities. It has become a reality now as artificial intelligence (AI) plays a big role in transforming how businesses operate these days. And what about the time-consuming, lengthy, and repetitive tasks that affect business efficiency, engagement, and productivity? In that case, robotic process automation (RPA) facilitates rule-based task automation at ultra speed.
RPA and AI are the powerhouses of business process management and digital transformation. According to a report, AI can boost global labor productivity by <1%/year and become a <$200 billion market by 2025. RPA, although being utilized in a narrow field compared to AI, can exceed $14 billion by 2029. Although these technologies continue to gain the focus of business leaders individually, intelligent process automation (IPA) aims to integrate these two together. Using AI and RPA together will expand and complement each other’s capabilities and help businesses achieve their automation goals more effectively and efficiently.
Organizations are realizing the IPA capabilities that drive its rapid growth and would make it a $37 billion market by 2030. The blog will discuss how intelligent automation (IA), the link between RPA and AI, would benefit businesses as they focus on intelligent processes.
Intelligent Process Automation (IPA): Combining RPA and AI
Let’s first understand the distinction between AI and RPA and how to utilize them effectively. AI can think for itself and execute more complex and meticulous tasks autonomously. Businesses use this technology to support processes that require thorough analysis, decision-making, and a high volume of data.
RPA executes many business processes built on rule-based factors at high speed. It best suits simple and linear processes that are repetitive and have less exception scope, such as legacy systems. Combining RPA and AI gives businesses a simple and efficient automation strategy. AI can handle analytical and decision-making processes, while RPA handles repetitive tasks.
Intelligent process automation, or intelligent automation, is a combination of AI and other cognitive technologies like ML, BPA, RPA, NLP, and process intelligence. By combining AI with RPA, organizations can utilize intelligent automation to automate business processes, improve workflow effectiveness, and facilitate innovation. It can help them eliminate manual workload and optimize their decision-making capabilities.
Why Combine RPA and AI?
Intelligent automation adds an intelligent layer to assist software systems and tools in optimizing, learning, and adapting to processes autonomously. Businesses can shift their focus to achieve profitable outcomes, gain data-driven insights, and offer personalized customer services. Merging AI and RPA would help them overcome each technology’s challenges and limitations. For instance, AI could assist RPA bots by processing complex data and tasks, facilitating more accurate and fast automation. Here’s what businesses can expect by combining these two technologies:
• Improved decision-making
• Reduced errors.
• Increased productivity.
• Faster time-to-market.
• Reduced costs.
Intelligent Process Automation Use Cases
There’s an endless list of use cases and possibilities for RPA and AI individually, but what about when both works together? Let’s take a look at how combined AI and RPA can optimize various processes and understand how IPA transforms workflows, business processes, and operational efficiency:
Accounts/Finance Automation
The AI-based software solution can read invoices and extract key information such as purchase order numbers, remaining amounts, and date of purchase. RPA bots can analyze this data to verify purchase orders, calculate totals, submit payments, and process approved payments. AI-driven process automation can also prevent non-compliance with financial processes. It can detect whether an invoice is approved correctly and flag suspicious invoices. The RPA bot will then prevent the payments from being processed.
Supply Chain Optimization
Businesses can leverage AI-powered predictive analytics powered by RPA bots to analyze historical data, predict market trends, and analyze customer behavior to calculate demand accurately. Intelligent process automation can assist with inventory management and decrease out-of-stock and overstocking issues. This would improve supply chain efficiency and reduce lead times and costs.
IT Support and Security Optimization
The common problem that every IT professional worldwide faces is addressing help desk tickets for routine issues like ticket update requests, password requests, etc. With IPA, businesses can integrate AI-powered chatbots to handle IT support requests and resolve common problems. RPA bots can then assist in password reset tasks, provide provision access, and help update ticket details in compliance with IT protocols.
Customer Service Automation
AI-powered chatbots and RPA integration allow businesses to automate customer support processes and offer personalized experiences. They also reduce human errors while resolving general issues. Intelligent automation delivers faster response times and improves customer engagement and satisfaction. AI can also assist in analyzing emails, social media mentions/tags, and customer feedback to understand customers’ choices and what they think about their products/services. RPA bots can then categorize each interaction and transfer it to relevant support teams.
Insurance Process Improvement
Insurance business owners can benefit from RPA and AI combinations by streamlining operational efficiency, claim processing, customer service, and risk assessment. AI-based analytics can examine previous claims, market trends, and customer behavior to predict future opportunities for policyholders. Using this information, they can adjust the coverage or enable policyholders to take benefit of discounts. Then, they can run RPA bots to automate the policy renewal process, reminders, and premium calculations. RPA and AI can also assist in fraud detection by flagging suspicious claims. They can identify fraud claims and improve the detection mechanism.
Ensuring Intelligent Automation Success
To maximize the return on investment of an automation project and unlock its true value and hidden opportunities that organizations can utilize, one needs a support player in the team. In this case, it is ‘process intelligence.’ Following are ways how process intelligence can ensure intelligent automation success within a digital business ecosystem:
• Process intelligence integrates process mining with standardized processes to provide AI with learning materials to make it understand, optimize, and automate E2E processes.
• It can help offer real-time business insights without disrupting the business workflow. Businesses can identify ideal automation opportunities, optimize workflow, and monitor continuous performance.
• Businesses can implement automation in their most critical areas where IA’s impact can be measured by understanding process flows and remediation inefficiencies. This will minimize risks, provide compliance support, and enable ongoing optimization.
• Process intelligence data-driven insights can help organizations in decision-making and ensure that their automation efforts are effective and adaptable to changing market needs, leading to improved operational outcomes.
How can Tx assist with the Implementation of Intelligent Process Automation?
Tx can assist you in unlocking the full potential of intelligent process automation (IPA) within the dynamic landscape of today’s digital business ecosystem. Our proven track record in AI and RPA testing makes us your reliable companion in your journey toward IPA implementation. By partnering with Tx, you get:
• Tailored testing strategies leveraging AI, ML, and RPA to design and implement cutting-edge frameworks.
• A team of AI and RPA experts will assist you with seamlessly integrating intelligent automation into your business processes.
• Utilization of AI-powered in-house accelerators, such as Tx-Automate, to facilitate automated test execution and predictive analytics to accelerate testing cycles while maintaining accuracy and quality.
• The testing process covers performance testing, security validation, and ongoing maintenance to ensure your intelligent automation system performs optimally.
Summary
Integrating RPA and AI within the digital business environment is a transformative shift that can improve operational efficiency, CX, and fraud detection capabilities. These technologies combine to form intelligent automation that reshapes how businesses approach new market opportunities. Its applications across industries make it a good companion for businesses undergoing digital transformation. However, one must partner with a reliable and professional QA partner to ensure its successful implementation. Tx can assist you with the successful implementation of intelligent automation and ensure the overall success of your project. To know more, contact our experts now.
