Many organizations could be gaining huge operational efficiencies if they combined Artificial Intelligence (AI) with Robotic Process Automation (RPA).
Gartner predicted that “RPA software spending is on track to total $2.4 billion in 2022. The forecast says that “by 2020, RPA tools will have evolved to include more types of functionality, such as AI software."
Definition of RPA
Robotic Process Automation refers to the automation of repetitive tasks. RPA executes routine tasks in a fraction of the time it takes any human to do it, and without the risk of human error.
RPA uses software robots to carry out actions such as scraping, data aggregation, data cleaning, and communicative tasks with other applications and people to execute repetitive work.
It allows businesses to maintain low costs while giving their workers increased opportunity to tackle other needs within the organization.
AI and Natural Language Processing
AI makes it possible for machines to mimic humans in functions such as learning and problem-solving. AI today is comprised of multiple disciplines, such as machine learning (ML), Natural Language Processing (NLP) and many others. Artificial intelligence algorithms are designed to make decisions, often using real-time data.
Natural Language Processing (NLP) is the “ability that allows machines to understand and interpret human language the way it is written or spoken”.
The objective of NLP is to make computers/machines as intelligent as human beings in language comprehension.
Intelligent RPA
RPA technologies cannot adjust their procedures without human intervention. However, RPA may become a suitable step for incorporating more sophisticated cognitive technologies such as Natural Language Processing.
Combined with RPA, AI can dramatically improve the way companies address business processes and equally, can drive operational efficiencies. "Intelligent Automation" is the name some give to this RPA enhancement.
Most enterprise processes are manual and repetitive, and, according to some experts, more than 70% can be automated using RPA. Processes that require human judgment can also be automated by 15–20%.
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