What is Intelligent Automation?
Intelligent Automation is the combination of process automation software and artificial intelligence models to automate business processes. These technologies drive enterprise benefits by improving quality, shortening process times, and reducing operational costs.
How does it work?
Robotic Process Automation (RPA) is a software platform that can interact with your company’s applications just like your employees. An RPA script can reproduce mouse and keyboard actions in the same way as your employees. It has tools that allow it to open applications, interact with windows/browsers, retrieve from almost any system or insert/update data.
For example, it can access an email account, find invoices in the inbox, extract an invoice document, extract the information, validate in your vendor lists (or other validations), and post into your accounts payable system without the need for a human. This allows repeatable processes to be automated the same as any employee only faster, and with fewer human errors.
Artificial Intelligence is the application of machine learning (ML), i.e. software learning from data, to perform a specific activity. A ML model is created by learning from a data set, and then used to process future data to perform a specific task. This elevates the efficiency of your organization by speeding decisions via automation. Today, machine learning can perform predictions, classifications, associations, clustering, anamoly detection, and natural language processing with incredible speed.
Oil and Gas
Oil and Gas is a labor, asset and resource intensive industry. Below are some examples of how intelligent automation can be utilized to achieve value from data through speed, efficiency and insight:
● Physical inventory elimination.
● Maximization of Equipment utilization.
● Improved manpower utilization.
● Reduction in equipment downtime through preventative maintenance.
● Just-in-time inventory.
● Quality of service improvement.
● Exploration analytics and analysis.
● Well production analysis.
● Industrial automation integration.
● Operational reporting and Compliance.
● Optimized drilling performance.
● Intelligent robots to improve productivity while reducing worker risk.
● Virtual assistants for customer inquiries.
● Guide processes through regulatory steps, automatically send correspondence as and when required, and ensure cases are resolved within the right timeframes.
● Anomaly detection and cognitive endpoint protection.
Healthcare
The healthcare system is experiencing unparelleled demands for service excellence, patient safety and satisfaction, operational excellence and efficiency, and the need for transformed healthcare delivery.
Below are some examples of how intelligent automation can be utilized to achieve value from data through speed, efficiency and insight:
● Increase hit rate in claims management and reduce manual work.
● Optimize pricing, and increase market share and reduce risk.
● Automate regulatory steps, send correspondence when required
● Increase early detection for patients at risk.
● Improve patient experience through virtual assistants for patient inquiries.
● Orchestrate provider management, accurate credentialing, and contracting.
● Combine process automation, and case management in a unified solution.
● Automate processes to reduce costs and accelerate product development.
● Device and drug comparative analysis.
● Improve systems security with cognitive endpoint protection.
Benefits:
● Reduce operational costs.
● Increase member satisfaction.
● Improve health outcomes.
● Shorten processing timelines.
● Reduce data entry errors and increase quality.
● Decrease diagnostic errors.
Manufacturing
Manufacturing is a labor, asset and resource intensive industry. McKinsey predicts AI can reduce supply chain forecasting errors by 50% and lost sales by 65%. Further, overall inventory reductions of 20 to 50% are possible.
Below are some examples of how intelligent automation can be utilized to achieve value from data through speed, efficiency and insight:
● Physical inventory reduction / elimination and just-in-time inventory.
● Maximization of equipment utilization with predictive maintenance.
● Improved manpower utilization.
● Improved quality through defect detection.
● Reduction in equipment downtime through preventative maintenance.
● Industrial automation integration through process automation (RPA).
● Faster operational reporting and compliance through automation.
● Virtual assistants for customer inquiries.
● Improve systems security with cognitive endpoint protection.
Benefits:
● Reduced operational costs and OEE.
● Improved equipment utilization, and fewer stoppages.
● Shortened processing timelines achieving greater speed/efficiency.
● Reduced data entry errors and increase quality.
● Improve productivity while reducing worker risk.
Logistics / Distribution
Competition in the logistics industry requires innovation to drive down cost as well as improve margins. Intelligent automation can eliminate costly manual functions by automatically acquiring, integrating and delivering data across your supply chain.
Below are some examples of how intelligent automation can be utilized to achieve value from data through speed, efficiency and insight:
● Receiving: Improved quality and efficiency through automation of bill of lading processing
● Vendor/Supplier Management: Improved quality and efficiency for vendor onboarding and inventory automation
● Pricing: improved pricing on aging inventory through automation and artificial intelligence
● Automate Shipment Scheduling and Tracking
● Automate shipment status notification
Benefits:
● Receiving: cost savings of > 25% from efficiency and quality
● Receiving: improved tracking of split shipments and reconciliation > 20%
● Vendor/Supplier Management: cost savings of > 25% through efficiency and increased quality
● Pricing: improved pricing improving margins as much as 20%
Finance Department
Performance Management is one of the top priorities for Finance Departments. This reflects a real need to provide added value to the businesses processing data with digital technologies. Process automation and AI models have become a mandate for digital transformations.
According to PWC, 89% of Chief Financial Officers want to improve their reporting and dashboards using more data visualisation and by improving their production methods. Fifty-nine percent (59%) want to implement predictive and prescriptive analysis. Sixty-seven percent (67%) want to reduce production times for financial information. Top performers can run at 36% lower cost.
Below are some examples of how intelligent automation can be utilized to achieve value from data through speed, efficiency and insight:
● Reduce false alerts through classification models.
● Identify patterns and spending context to discover fraud.
● Processing data required for intercompany transfers that cross GLs.
● Predictive analysis for cash management.
● Improve client experience through virtual assistants for inquiries.
● Improve regulatory and compliance risk with automation.
● Enrich value analysis leveraging sentiment analysis.
● Improve debt collection with automated personalized communication.
● Automate the AP function for lower cost and greater speed.
● Automate the AR function for lower cost and greater speed.
● Reduce cyber-attacks with cognitive endpoint protection.
● Faster financial close process through automation.
● Collecting financial plan data, collating it, combining for FP&A.
● More efficient vendor management checks and insertions.
Benefits:
● Reduced production times for financial and compliance information.
● Enrich performance management.
● Improved quality through fewer human data entry errors.
● Shorten AP and AR lowering cost, and reducing timeframes.
● Cost avoidance with automation by reducing headcount requirements.
