Top 8 Approaches to Intelligent Automation

For a while now, businesses have been employing automation technologies. Most financial service entities have already embraced robotic process automation.

However, intelligent automation has been gaining significant interest from companies for some time. This is because of its capabilities to enhance efficiency, customer service, revenue, and risk management.

Intelligent automation is believed to be the digitalization future. No machines or humans working on their own can outperform the power of machines and humans working together.

In simple terms, the power of intelligent automation is not only in digitalization and robotic process automation but also in individual inputs.

Can intelligent automation help improve your operations? Yes, you can thrive with intelligent automation. Read on to find out more about intelligent automation and approaches you can use for intelligent automation.

Definition of Intelligent Automation

Intelligent automation is the integration of multiple innovative tools. It does not incorporate only robotic process automation but also artificial intelligence and digital enablers.

Intelligent automation implies that you will have to search for automation alternatives. You choose the most appropriate based on their broad range of prospective advantages other than costs.

However, the most significant description of intelligent automation includes:

• Knowledge of benefits like minimized fraud, better compliance, and new revenue.

• Knowledge of the user options of artificial intelligence, digital, and robotic process automation based on Returns on Investment, risks, and costs. In simple, do you want to use intelligent automation for mail reading or simply use digital forms?

• Knowledge of whether there are other better delivery alternatives such as Six Sigma, LEAN, or system changes.

8 Most Effective Approaches to Intelligent Automation (Based on Operations Outcomes)

Do you want to reap maximum benefits from intelligent automation? Here are the best approaches you can employ in your operations:

1. Conduct opportunity assessment

You may have evidence showing that automation technology offers tangible advantages across all operations. Irrespective of whether your business uses obsolete information technology (IT) systems. Nevertheless, it is essential to undertake a comprehensive opportunity assessment. This will help you get the most favorable process portfolio.

Often, individuals tend to target robotic process automation for highly sophisticated processes. This common mistake results in low returns on investments and increased automation costs. These efforts might have been beneficial when used to automate several other simple processes.

Generally, you should perform a swift unit-wide or company-wide opportunity assessment. In this case, you will not only use robotic process automation but also artificial intelligence and digital systems.

2. Employ cloud technology in selecting an intelligent automation tool

Currently, the automation space comprises numerous tools. This may pose a challenge when identifying the device that suits your specific needs. Employing cloud-based services like artificial intelligence, digital, and robotic process automation can help you select.

These cloud-based services will help you quickly identify if a specific tool suits your purpose with minimal advance costs. Utilizing the power of cloud technology will significantly impact the ability to deploy intelligent automation tools.

3. Carefully scheme your pathway to automation.

Advancing machine learning from the developmental stage, tests, and finally, to live functioning needs cautious planning. The process is different for various use cases and tools. You may adopt the approach of robotic process automation projects. The experience is that the primary aspects include developing proper skills and creating control and governance.

Multiple tools involved in artificial intelligence may be the only challenge. However, new tips are being developed to handle the challenges. For instance, devices like mobile can test and run distributed algorithms.

4. Consider an operating model of your choice.

Creating an operating model incorporating a CoE (center of excellence) will significantly benefit intelligent automation implementation. Having your operations guided by a CoE can dramatically help manage and improve the virtual workforce. You can supplement it with central compliance, risk, and IT skills. Instead of establishing a CoE for every technology, it is easier to employ an integrated automation CoE.

5. Devise a talent scheme

With the increasing interest in automation and intelligent automation in specific, demand for skilled talent outpaces supply. Hence, the space is significantly short of skilled talents. You can automate simple tasks with a day or two of training. Nevertheless, you need better skills to create resilient and scalable processes.

Consider strategizing on having two weeks or more for training and two months or more for hands-on projects. This may be done with close coaching and supervision before you can work on existing production automation. The best way is to avoid being economical on the team support, skills transfer, and training.

6. Secure a room for operations control

A control room is a vital aspect of performance monitoring. You need to monitor and manage adopters like NLP and OCR whenever they are central to the process. You have to address the excessive errors that may pose potential future issues.

Also, a control room helps ensure you get top-quality inputs from implementing intelligent automation. You may require additional monitoring to address issues like bias risks in algorithms, which may skew the results. The most preferred is for your control room to have a unified approach.

7. Check impacts

You can benefit from automation through minimized costs, improved data quality, service predictions, minimized risks, and others. After an opportunity assessment, you can relate the desired impacts and benefits.

It is also essential that you monitor performance to achieve the benefits. This will help ensure continuous investment in automation programs. Basically, the automation system has to achieve the expected benefits. Therefore, the basis is to focus on measuring and realizing benefits.

8. Early risk engagement and control building

You must prioritize risks and controls in the automation process and not treat them as afterthoughts. Various aspects need to be observed, including potential automation risk concentration. It is also crucial to direct much focus on controls and risks. This is because, globally, much attention is paid to regulatory and ethical concerns raised by artificial intelligence and robotics.

Final Thoughts

Intelligent automation can significantly change your operations and achieve an end-to-end procedures transformation. However, to achieve practical benefits, you must adequately target and prioritize this automation system. Understanding your operations and how you can transform them can help achieve maximum benefits from intelligent automation.