Intelligent Automation can be termed as a structured methodology of automating repetitive and tedious business tasks, processes and activities using AI, RPA, and other related technologies. These could include simple, manual work or back-end and front-end processes etc.
In a recent research by MIT Sloan Management Review, it was found that almost 85% of global executives believe AI will allow their companies to obtain or sustain a competitive advantage.
Some studies also claim that highly automated companies are six times more likely to experience revenue growth of more than 15 percent.
Even though 81% of IT leaders are currently investing in or planning to invest in AI, only 39% of all companies have an AI strategy in place. According to Gartner, 59% of organizations are in knowledge gathering/ investigating/developing strategy phase of their AI journey.
While AI and automation technologies will not do wonders by themselves, it will be about how they can be used. Organizations must recognize which processes/tasks/activities should be automated for productive business outcomes.
Another question that needs to be answered is which element of the business workflow should be automated. Should it be a simple task or a complex activity or a compound process? This again depends on the organizational framework and requirements.
Abhishek Shanbhag