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How AI-Driven Robotic Process Automation Can Deliver Higher ROI For Enterprises

15-Mar-2022

How AI-Driven Robotic Process Automation Can Deliver Higher ROI For Enterprises

Automation, AI, ML, Agile, and other similar terms have completely redefined the digital transformation wave. Though all these techniques and technologies have their own significance, Automation over the years has provided a necessary boost to business operations and therefore has come a long way complimenting the Robotic Process Automation technology. 

At present, RPA is the future of business automation in enterprises with all the potential to drive human efficiency. Moreover, the added advantage of preventing risks and minimizing the costs involved are some of the potential reasons AI-driven RPA is blooming.  

Though RPA has huge potential to reveal, there are still many misconceptions surrounding the use of technology with “Robots being a threat more than opportunity” at the top. To workers, RPA may appear to be a job threat but it is actually an opportunity for the workforce as well as enterprises, leaving the most time-consuming and repetitive activities to RPA. Such a move will not only streamline jobs that can be worked without human intervention but can help fetch maximum business creativity from the workforce.  

Since we have been actively involved in Automation testing services for a long time, this blog will aim at highlighting the benefit AI-driven automation could bring to enterprises. The blog will underline the benefits of RPA, applications of AI in RPA, and the applications of AI-based RPA across industries.  

Let’s begin.  

Robotic Process Automation: The Definition 

Robotic Process Automation or RPA is an intelligent automation technique that allows organizations to integrate bots into a process and take over operations that were earlier worked by human employees. The process involves the use of technologies like AI and ML to imitate the human behavior of carrying out work. Nevertheless, the use of RPA can be classified into two different categories, mainly automation to carry routine office work and automation powered with AI. 

Benefits of RPA 

  • Low Coding Required: Since RPAs are configured to offer drag and drop features in their UI, it is easy to onboard. 

  • Frequent Cost Saving: RPA allows you to shift the labor-intensive jobs to robots thereby giving a chance to shift employees towards tasks that can drive more ROI. 

  • Improved Customer Satisfaction: With chatbots and digital workers taking on potential labor-inclusive tasks, the robots allow greater customer satisfaction.  

  • Better Employee Morale: Since RPA is meant to cut off any high-volume workload, it helps in developing a more positive and thoughtful outlook in employees. 

  • Accuracy & Compliance: As RPA with AI has the potential to mimic given commands and workflows, it can help yield the accuracy required to yield to compliance objectives and other regulatory standards.  

  • Reform Conventional Operations: RPA solutions are meant to work at the presentation layer of the applications without causing any interruption to the underlying architectures. 

Applications Of AI-powered Robotic Process Automation  

RPA or Robotic Process Automation has dynamic potential to offer. Moreover, when it is paired with innovative solutions like AI and ML, it can be leveraged to any industry by allowing bots to mimic human interactions. And therefore, there are so many ways AI-powered RPA could help drive opportunities for collaboration, growth, and productivity.  

Some of the most powerful examples of AI and ML implementation in complex work environments include self-learning mechanisms that do not require human interaction to process subjects like data analytics and sentiment analysis. Also, machine learning can be leveraged to teach robots to process data rationally. On top of that, AI can even be used to reflect on human characteristics and drive more precision in tasks to yield solutions like big data, predictive analysis, and application interconnectedness.  

Thus, AI robots in industry have all the potential to classify, merge, and optimize data to determine patterns for better applicability and overall digitalization benefits.  

Why You Need To Bring AI Into RPA? 

There are so many reasons why Artificial Intelligence must be driven into Robotic Process Automation. Some of these can be listed as: 

Improved Security 

AI-based RPA executes a process based on analysis and does not require manual intervention on data collection reducing the chances of any discrepancies. And therefore, the technology can be used to handle administrative affairs, police records, and other financial information that must be kept confidential.  

Cognitive AI & Predictability 

Since AI has the potential to make decisions, AI in RPA can be used to work on predictive analytics. The technology could then be used to measure the unexpected and use the value of data in decisions related to customer service via sentiment analysis.  

Wondering What Role Of AI Could Play In Test Automation? 

Read Here: Understanding The Role Of AI In Test Automation 

Encourage Big Data 

AI-based bots can be trained to collect data from disparate systems and then feed it to big data algorithms. The information could then be fed to a cloud interface allowing automated ordering and provisioning of services. 

Applications Of AI-based RPA In Business 

Some of the best areas to implement AI-based RPA in business can be anything that involves low cognitive requirements. These can be systems that are programmed into the core of a business with all the explicit rules. Though there is no hardcore protocol that allows use of RPA in rule-based environment, RPA is more beneficial for operations that involve volume.  

Also, AI-based RPA can be integrated into operations that do not require access to multiple systems and usually involve high-probability of human-error. It can even be worked for operations where there is a requirement for limited exception handling. Here are some of the most potential areas of implementing AI-based RPA that can be considered: 

  • Healthcare 

Since efficiency is the primary requirement for all internal operations happening in the healthcare sector, AI-based RPA could aid in data management, tracking payment cycles, insurance processing, etc. The RPA in healthcare can be trained to fetch data, process information, and cut off any errors that might hamper the patient's experience.  

  • Banking & Finance 

The next significant application of AI-based RPA can be banking and finance related operations. The automation could help the industry to work on anti-money laundering and streamline the customer service process. Also, bots into operations can even help in KYC research and improve the overall experience of opening and maintaining accounts.  

  • Insurance 

Insurance is another great area of implementation where RPA can be used to automated tasks like application processing, policy administration, compliance, and any other details vital to create a secure and effective environment.  

  • Retail 

The retail industry is spending extensively into the RPA resources to take control of tasks like fraud detection, customer acquisition, warehouse management, CRM, and work on changing market demands. Overall, data analytics and predictive analytics can be used in retail to upgrade customer service, sales, and overcome product loss.  

How Businesses Could Integrate AI-based RPA Into Operations? 

Many organizations rely on legacy systems to keep up with operations. However, integrating AI-based bots into legacy technology could offer extensive benefits to the business, varying from accuracy to revenue building. However, the only way to yield the benefits of RPA for businesses is to work on the effective implementation of the system. Here are the most significant aspects of implementation that developers and automation testers should keep in mind when working on implementation: 

  1. Choose a reliable RPA service provider 
  2. Pick the RPA solution that works well according to your needs 
  3. Add AI/ML to enhance RPA 
  4. Develop your solution 
  5. Deploy & Test  

How BugRaptors Could Help With Your Automation Needs? 

If you are planning to reinvent your business workflows with the integration of advanced technologies like AI and ML, BugRaptors can help you drive Quality Assurance Services into the process for improved business efficiency and risk prevention.  

Besides, our experts can help you leverage AI services to yield maximum performance and human capabilities. All in all, if you are looking for 360-degree digital transformation making the most of Automation and AI technology, we can help you achieve excellence through intelligent test automation and AI testing services.  

For more information, feel free to reach us through info@bugraptors.com  

author

Parteek Goel

Parteek Goel is a highly-dynamic QA expert with proficiency in automation, AI, and ML technologies. Currently, working as an automation manager at BugRaptors, he has a knack for creating software technology with excellence. Parteek loves to explore new places for leisure, but you'll find him creating technology exceeding specified standards or client requirements most of the time.

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