By Nick LaDieu, Savvior
From self-driving cars to disease-sensing machines, artificial intelligence (AI) is finding its way into every business sector. Can AI deliver real world results, or is it all buzzwords and hype? Yes, AI is already delivering real world results.
So what is Intelligent Automation (IA), how does it work, and why should it matter to you? Let’s dive a little deeper.
What is Intelligent Automation?
IA combines artificial intelligence and automated processes, allowing machines to sense and synthesize information using deep learning to recognize patterns and anomalies. IA is able to program itself to perform tasks and manage information rapidly. Intelligent automation creates unprecedented efficiency across a variety of sectors, which is why 90% of C-level executives already report using some form of intelligent automation in their businesses.
Intelligent Automation in Our World Today
IA learns to use natural-language-based processing to replace a variety of low-value human tasks, including judgment-based actions and image analysis. The IBM Institute for Business Value Research believes IA could most efficiently replace humans in areas of accounts payable, global trade services and revenue accounts. American Express, for instance, uses IA to detect fraud in real time on their 110 million credit cards and to connect cardholders with services and offers that best suit their lifestyles. With speed and precision that humans cannot muster, IA can enhance customer experiences, improve forecasting, and develop stronger decision-making processes than humans.
How does Intelligent Automation Work?
Though an understandably complicated question, the basis of how IA functions can be boiled down to a computer architecture designed to mimic the neural networks of the human brain. This is accomplished through a masterful combination of machine learning and deep learning.
Through machine learning, IA uses algorithms to develop patterns and recognize anomalies. Deep learning uses these algorithms – while working around distractions, missing information and confusion to program itself to function despite of these hurdles. With the perfect marriage of machine learning and deep learning, intelligent automation can analyze and organize multi-format data and, much like humans, continuously use algorithmic analysis and AI to improve.
How IA Affects Your Business
In business, it is vital to continue to use the most advanced, efficient technology and resources available to increase production while lowering costs. Intelligent automation accepts this challenge by constantly evaluating systems and algorithms to optimize performance and outcomes.
By designing systems that can perform low-grade tasks – and go the extra mile by thinking like humans – employees can engage in higher-value tasks that remove monotony from the workday, allowing you to best utilize your human capital resources. With IA your business can decrease human-made errors and cut costs by more than 75% in repetitive tasks.
As IA becomes an increasingly valuable aspect of business processes, businesses must carefully evaluate the tasks they can automate. Ethical and functional considerations must be made in order to decide which aspects of the business can benefit from IA and which tasks remain best handled by trusted employees. As a highly contested ethical concern, proper attention should be paid to the amount of IA your business utilizes to ensure the accuracy of these functions.
Intelligent Automation, simply put, allows machines to think and act like humans. This efficient and money-saving technology is exactly what businesses need to take the next step in their digital strategy. With IA, your business can quickly and easily accommodate evolving industry changes and allow for unparalleled growth and efficiency in the business process.
Stay tuned for the next edition of our series on next-gen business solutions from the experts at Savvior for more on these magnificent technologies and their applications.sector. Can AI deliver real world results, or is it all buzzwords and hype? Yes, AI is already delivering real world results.