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Intelligent Process Automation is defined as the application and implementation of emerging artificial intelligence (AI), machine learning, cognitive automation, and other technology to automate or remove time-consuming, repetitive tasks that otherwise would have to be performed manually by an organizational employee.

The key objective of Intelligent Process Automation is to closely mimic human activity and behavior by learning and improving performance through experience with the help of intelligent software algorithms. Manually performing business processes and tasks can not only be extremely time-consuming but can also lead to errors and mistakes which can be extremely detrimental to the business as a whole.

The market for intelligent process automation is estimated to reach a total market value of $13.75 billion by the year 2023, with a Compound Annual Growth Rate (CAGR) of 12.9%. It can be used to automate and better execute tasks using intelligent technology; which will benefit your organization operationally and financially.

Having a wide variety of potential benefits such as improved customer interaction response times, intelligent automation offers better customer service, client relationships, employee performance, and enhanced organizational efficiency and productivity.

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Robotic Process Automation in the digital age, the business climate is rapidly transforming as there is always scope for improvement. An organization needs to continuously evolve its process to grow and stay relevant. Enterprises are constantly looking for ways to improve performance levels and gain an edge over the competition as a result of which many businesses worldwide are adopting automation as a key strategy to thrive.

The value of the global robotic process automation market size is $1.40 billion in 2019 and is expected to reach $11 billion by 2027.

RPA – the face of Automation

RPA (Robotics Process Automation) allows organizations to automate tasks across various applications and systems. RPA automation can be used to automate workflow, infrastructure, back-office processes which are labor-intensive to streamline business processes, improve speed, productivity, and efficiency, achieve rapid scalability with fewer errors with less cost. The most beneficial part of the RPA is that it does not require the development of code, nor does it require direct access to the code or database of the applications.

RPA technology is a game-changer for businesses to achieve high levels of ROI (RPA investment has a 9-12 months payback period). Employees spend about 10%-25% of their time on repetitive computer tasks regularly. With the advent of a typical rules-based process like RPA, 70%-80% of the process can be automated so that employees can shift their focus to more value-added tasks

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As business operations continue to shift online due to the current remote work-from-home scenario, the importance and speed of implementation of automation strategies have been largely accelerated. Hyper-automation is defined as the integration of several different digital tools and technologies in order to enable the automation of virtual tasks associated with business processes.

Hyper-automation functionality can even discover business processes and automatically generate bots to deal with them. Hyper-automation technology combines a wide variety of innovative tools such as Machine Learning, Artificial Intelligence (AI), and Robotic Process Automation (RPA) with primary accessible technology in order to automate repetitive and time-consuming organizational tasks.

With the use of hyper-automation, businesses can digitally transform and revitalize their current organizational efficiency and productivity so that they can unlock their complete potential. Furthermore, it has the ability to help businesses deal with the increasing amounts of data and workloads that can become extremely difficult to perform manually. Research shows that by the year 2024, organizations will be able to lower their costs by up to 30% using hyper-automation technology with redesigned operational processes.

Why We Need Hyper-automation1) Advanced Analytics

Once your business automates its business processes and tasks, advanced analytics capabilities can help you determine the return on investment (ROI) of your business’s automation software technology and strategies. You can further utilize these advanced analytics to draw valuable insights so that your business can determine the impact the automation had on your organization’s sales and revenue stream, management, and overall general operations. Processes that previously required long hours of manual labor by a human employee can now be completely automated and optimized using emerging hyper-automation technology.

Intelligent machine learning technology can even use past interactions and experiences to continuously optimize functioning and advance capabilities so that organizational decision-making can be automated. Machine learning technology can use data to identify relevant patterns so that organizational decisions can be made with minimal human interaction and intervention.

2) The Power of Artificial Intelligence Capabilities

The integration of high functioning, complex Artificial Intelligence technology in business processes is changing the definition of ‘work.’ Complex Artificial Intelligence features such as machine learning, computer vision, high functioning ‘Optical Character Recognition,’ and ‘Natural Language Processing’ allow your business to more effectively automate business tasks and process more work productivity.

Artificial Intelligence can uncover and automate previously inaccessible areas of data end to end in order to create higher value. Your business can utilize the power of artificial intelligence in order to hyper-automate day-to-day business processes.

Robotic Process Automation (RPA) can automate tasks across a variety of different organizational departments such as allocation of available human resources, security and encryption assurance, finance and accounting records, and mission support using available structured and unstructured data in order to make key decisions.

85% of businesses reported that the use of Robotic Process Automation exceeded their expectations in terms of accuracy, timeliness, and flexibility. These automatic features also help organizations in terms of compliance and reducing potential associated risk by reducing the possibility of human error.

3) Workforce Engagement

The implementation of hyper-automation in businesses around the world has helped reimagine traditional workforce teams. Hyper-automation enables human employees and complex digital technology to work side by side in order to achieve organizational goals and objectives more efficiently and productively. In new, innovative hyper-automation strategies, technology collects, records, and analyses large amounts of data; with human employees being the key decision-makers for important tasks using digital cognitive computing tools. Therefore, with the power of hyper-automation, your business can enable Robotic Process Automation (RPA) developers, business experts and analysts, and advanced digital technology to collaborate.

Furthermore, with the integration of hyper-automation technology, employees will be able to save their valuable time spent on repetitive, time-consuming tasks. They can then utilize this time to work on more intellectually stimulating, higher-level organizational tasks.

In fact, one of the key advantages of hyper-automation is the ability to make business processes almost completely autonomous and independent. Studies have shown that by the year 2025, more than 20% of products will be manufactured, packed, shipped, and delivered to consumers without being touched.

This means that almost the entire supply chain process can be automated without the interference of a human employee. This also means that entire value chains can be made more efficient, reliable, and scalable than ever before.

The Difference between Automation and Hyper-automation

Hyper-automation and automation are generally grouped into the same category of optimization tools. However, there are several key differences that differentiate the two. When discussing automation, this refers to the software that can be made available within a computer that can assist or speed up business processes or tasks.

However, hyper-automation refers to the application of advanced, complex technology such as artificial intelligence, machine learning, process mining, advanced analytics, and robotic process automation to automate and augment processes that are generally performed or dependent on humans.

While automation is performed by easily available computer technology, hyper-automation is performed by high functioning, sophisticated technology. Furthermore, while automation aims to automate certain specific business processes and tasks, the ultimate goal of hyper-automation is to automate every business process or task possible.

Hyper-automation offers more advanced capabilities such as the availability of predictive insights, process mining, adaptive decision making, and guided recommendations.

Take Advantage of the Power of Hyper-automation:

With the power of hyper-automation technological features, your business can effectively automate and streamline day-to-day business processes and equip the organizational workforce with opportunities to collaborate with other departments using advanced digital technology.

Furthermore, you can add intelligent AI and Machine Learning technology to routine tasks in order to optimize and automate your business’s overall operations. You can then take advantage of advanced analytics that will enable your organization to assess the overall impact of automating these processes.

As our modern business landscape continues to shift online in favor of advanced digital technology, hyper-automation is becoming more and more relevant and valuable to businesses today.

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Eagle Insight - Robotic Process Automation | Automation Analytics | RPA ...