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With AI, More Business Processes Will be Automated

Traditional technologies reached a point where they can't cope with the rising demand in data analytics. That led to the development of artificial intelligence designed to help improve business processes on all levels. 

AI is a powerful solution that improves employee efficiency and productivity. It also helps identify weak points in operations, but most importantly, it uses automation to complete otherwise time-consuming tasks. Once integrated, AI offers all kinds of benefits that help companies get more high-quality work done much faster. Let's see how AI automation is changing business processes forever.

Business Process Automation on All Fronts

AI has been around for about a decade. It came a long way from its early beginnings, and today, AI solutions are used across many different industries and for many different practices. No matter what the process is, AI is designed primarily to automate repetitive tasks to leave managers with more time for other, more important jobs. 

Here are some stats. Automation is used by 48% of companies for their data analytics requirements, and 20% of businesses use automation for invoicing, ad posting, and other business processes. As the world makes the final push towards complete digitalization, the need for AI solutions keeps increasing due to massive data generation.

Whether it's working out the salaries for hundreds of employees in an Excel sheet, generating custom emails for an emailing campaign, or data analytics, without automation, most operations couldn't keep up with simple tasks, let alone complex ones.

Most AI solutions and tools belong to the Robotic Process Automation or RPA. In other words, users can configure the specific software robot to mimic human behavior and simplify interactions with digital systems. AI can interpret orders, identify connections within existing systems, and propose the best responses. Of course, all of this was once done by humans, but as systems become more complex, people couldn't keep up with so much data anymore. 

Some AI solutions are designed to listen to spoken language, others write content automatically. Some of them can identify images, while others locate and extract useful data. Business processes that use AI to automate some aspects of their operations are known as IPA practitioners. IPA stands for Intelligent Process Automation.

Benefits of Using AI for Business Process Management

With new AI solutions released all the time, it's clear that there's an increasing need for artificial intelligence. That should be of no surprise as AI can improve all kinds of business processes through automation. Here are some of the primary benefits of using AI for business process management:

1. Predictive Analysis

Every AI solution uses machine learning to analyze data, learn how a system works, find better solutions to problems, and streamline the operation. The effectiveness of an AI solution largely depends on the quality of the available data. Once the AI analyzes all of the data coming from multiple channels, it can identify patterns and pinpoint potential issues before they even happen.

The human eye simply doesn't have the complex structure needed to identify these patterns, and that's where AI makes the biggest difference. Predictive analysis can improve all kinds of industries and operations. For example, if you run an online store, AI can help you identify fraudulent activities in user online behaviors. It can then segment customers based on their behavior more accurately and help you increase the efficiency of your future marketing campaigns. 

2. Redundant Activity Automation

Redundant tasks take a lot of time to complete even though they don't offer any direct results. Instead of hiring more employees to cope with simple tasks, RPA can get things done faster and more efficiently by using automation. Machine learning and AI solutions can help scale up business processes by taking care of redundant tasks. That way, you can get more work done without hiring extra workers.

3. Customer Experience Improvements

Most organizations adopt AI solutions to reduce costs, but AI can do so much more than that. It can also have a positive effect on the overall customer experience. Business process management tools that use AI can analyze data to get accurate insights into customer behavior to identify future trends. 

For example, chatbots are extremely popular because they help customers find the answers they need through automation. The customer experience focuses on creating a transparent communication platform where customers feel that they get the help they need. An improved customer experience has a positive effect on conversion rates and ROI

4. Cost-Effective

Once an organization implements AI into its business process management, it ensures that all available resources are used. Traditional BPM is much more expensive and time-consuming, as it involves teams of experts working together to analyze data and find the right solutions. 

However, once AI comes into play, it can quickly identify issues, find the right solutions, and implement them into the operation without any extra costs or hidden expenses. Moreover, AI provides accurate predictions based on high-quality data, so all of the solutions it proposes are almost perfect.

5. Better Decision-Making Capabilities

Making the right decisions is impossible without serious, in-depth data analytics. However, it takes a lot of effort to filter the data and find high-quality information you can use to make better decisions. AI can help in that area as well. By using advanced machine learning algorithms and neural networks, managers and business owners can make better decisions.

Whether that's a new company goal or a specific process, AI can help by proposing what to do. For example, AI can help you decide if a customer is ready to make a purchase or if you need a follow-up call first.

RPA and IPA Use Cases

Robotic process automation and intelligent process automation are both extremely powerful tools adopted by enterprises and organizations worldwide. They both work with existing infrastructure without the need for any new systems or updates. By working together, they can drastically reduce operating costs through automation. Most companies report drastic improvements within the first year. 

According to the Deloitte Global RPA Survey, companies that adopt automation in their business processes are able to improve compliance by as much as 92%, get a boost of quality of 90%, reduce costs by 59%, and improve productivity by 86%. That's all within the first year after implementing RPA and IPA. Here's a quick overview of all activities where RPA and IPA make the biggest difference:

RPA Use Cases

  • Credit assessment
  • Screen scraping
  • Automation across existing systems
  • Data migration
  • Software installations
  • Insight delivery
  • Fraud detection

IPA Use Cases

  • Price optimization
  • Auditing
  • Social media marketing
  • Data maintenance
  • Automate common customer requests

RPA offers the best results when coupled with IPA because intelligent automation can process data, work with exceptions, and keep learning to improve all business processes even further. Both of these tools will soon become the primary solutions across all industries and organizations. 

Final Words

Business process management solutions with AI capabilities offer unprecedented capabilities and results. AI has come a long way in the past few years, and it is clear that it plays a prominent role in improving work efficiency and quality. Millions of companies worldwide use AI solutions to optimize their business processes, and we expect that number to grow exponentially in the next few years. 

All in all, automation is the future of BPM, and it will soon become available for organizations of all sizes. The sooner you implement AI into your business processes, the faster you will be able to scale your business and build a strong presence on the market.