The singularity may be near, but for now, organizations that blend, even augment, the creative thinking of humans with the algorithmic smarts of software robots can attain unprecedented levels of workforce productivity and efficiency, and deliver superior business outcomes.
Automating rote and repetitive tasks while applying analytics distilled from knowledge process work performed by software robots can enable organizations to continuously optimize work. This discipline, which applies artificial intelligence (AI) and machine learning, is known as Intelligent Process Automation (IPA), and it is seen as a key element in the future of work. For example, banks can use software to check a client’s financial history and approve or decline a loan in minutes instead of hours. Thanks to the reliability of software, errors are decreased resulting in less rework and wasted time. IPA can improve knowledge worker throughput and accuracy by offloading rote work to machines, freeing humans to focus on higher-value tasks.
Some may fear that IPA will eliminate jobs. This is a reasonable concern given the never ending corporate obsession with belt-tightening measures and operational efficiency. However, IPA also opens the doors to new roles and responsibilities focused on the integration, management, and maintenance of IPA software. The scale of data delivered by IPA will be enormous, resulting in the need for greater numbers of data scientists to help organizations properly interpret and apply process insights and foresights to advance business strategy and competitive advantage.
IPA isn’t about replacing humans. It’s about augmenting humans and removing rote tasks from their workloads to more effectively apply their creativity and problem-solving skills to differentiating work. Cognizant helps organizations identify which processes to automate, where internal skills need to be elevated, and how to augment human talent with IPA.
To learn more about Cognizant and Intelligent Process Automation, click the link above and download the whitepaper.