Decades ago, industrial automation systems made the Industrial Revolution possible. Today, intelligent automation software and systems are designed to replace repetitive human activities on the shop floor.
Intelligent automation agents consist of software code that executes commands based on preset goals designed to meet organizational objectives. These include the management of software processes and applications. Today, intelligent automation is being used to meet the demands of an increasingly complex and stressed market.
By combining automation with artificial intelligence (AI), companies can achieve higher overall quality and greater efficiency of operations. Broad applications are possible, from basic activities such as analysis and collection of data to more complex activities such as decision-making processes used to control robots and autonomous vehicles. Intelligent automation is visible in multiple economic sectors.
The raison d’être for creating intelligent automation is the analysis of massive amounts of data that is then used for widespread automation of processes. Intelligent automation focuses on learning to transcend routine performance and deliver exceptional quality, efficiency and productivity.
Examples of intelligent automation on the market
The technology sector is investing heavily in the development of intelligent automation software, especially notable companies like Kryon RPA, a renowned developer of AI-powered software robots for business automation. This company recently raised $40 million for robotic automation process technology and is aggressively expanding into new geographic markets.
In addition, many of the world’s leading technology companies such as Facebook and Google have invested heavily in robotics, machine translation, speech recognition and artificial intelligence. In a six-month period, Google bought eight robotics startups, while Facebook recently acquired an AI lab. Popular car manufacturers Volvo, Mercedes-Benz, BMW, Nissan and Audi plan to introduce autonomous vehicles to the market. IBM is also investing deeply in cognitive computing technology with a $1 billion investment in Watson.
Fusion of technology
Intelligent automation is unique. It combines automation with machine learning, machine vision and natural language processing. Today’s hardware and software can be combined with AI for great practical applications. The technology is amazing, capable of processing large amounts of information, analyzing data and responding to real-time situations.
On a more practical level, intelligent automation is used by companies for invoicing, streamlining business processes, making quick decisions, implementing marketing systems based on customer profiles, etc. There is now an ever-increasing range of business applications available for intelligent automation. The proof of the pudding is evident in the investments taking place in this arena. Consider that venture capitalists have poured $600 million into AI and robotics since 2011.
These investments are intended to pay dividends with improved innovation and improved productivity. The systems function better, offer more quality and are advanced in terms of processing power and speed. To this end, intelligent automation has multiple applications in many different industries. For example, an aging workforce can benefit from robotics, especially in labor-intensive industries.
There is ample evidence that people simply cannot keep up with the increasing complexity of data in the business world. Intelligent automation is the answer, as it enables employees across the spectrum to better use the information available to them.
Many companies operate in a highly competitive market where weak growth rates are the norm. In these cases, it pays to implement intelligent automation to improve efficiency, reduce operational costs and differentiate product offerings.
Finally: which sectors benefit from intelligent automation?
Automated analysis of data and subsequent decision-making processes can certainly benefit multiple industries. All this takes place in a controlled environment where people review and then approve machine decisions. Sectors include the following:
- The public sector – to prevent natural or man-made disasters by deploying artificial intelligence technology in the form of sensors, cameras and software to detect threats and identify suspects.
- Health care sector – Several intelligent automation systems have been implemented that can understand treatment recommendations and align them with clinical guidelines and medical policies to ensure effective and consistent service delivery. The goal is to improve the health and well-being of patients while reducing the costs and time involved in diagnosing, treating and planning.
- Technology sector – risk analysis is a major problem for companies. Fortunately, intelligent automation software can identify key metrics and generate accurate credit models that can be used by businesses to reduce credit risk. This forward-looking approach to risk management has proven beneficial to companies around the world. This credit feature is now highly responsive and efficient, and has resulted in more favorable credit terms for deserving customers