6 Reasons Why Your Business Needs Intelligent Automation
Intelligent Automation is transforming businesses across every sector by streamlining operations, driving productivity, and enabling data-driven innovation. However, many companies are still struggling to implement these advanced AI solutions and more importantly, harness their benefits. A global survey of 116 businesses by Statista revealed 60% are finding it difficult to establish truly innovative, AI-powered organisations in 2023 - the same share as in 2019. This highlights the urgent need for firms to embrace Intelligent Automation if they want to unlock their full potential. UK businesses are expected to spend up to 10% of revenues on AI, Automation & Data. By leveraging AI-infused solutions like Robotic Process Automation (RPA), Intelligent Document Processing and Data Analytics, companies can revolutionise their business and gain a competitive edge. Here are 6 compelling reasons why your business needs Intelligent Automation.
1. Boosts Workforce Experience and Engagement
AI automation plays a pivotal role in empowering today's workforce. By taking over up to 40% of repetitive, low-value tasks like data entry, employees are liberated from mundane activities. McKinsey's analysis of more than 2000 work activities across more than 800 occupations shows that activities rather than jobs are more easily automatable. Think of automation as a co-pilot for roles, as workers enhance their roles with digital workers. This allows them to channel their efforts into more strategic initiatives that require human ingenuity and creativity. The result is higher job satisfaction and improved retention rates among the workforce.
2. Enhances Customer Experience
Virtual assistants and chatbots are transforming the landscape of customer experience. With 24/7 availability, these AI-powered digital helpers with humans in the loop provide round-the-clock customer support, swiftly handling common queries and resolving routine issues. The outcome is consistent and personalised service, leading to strengthened customer loyalty and heightened satisfaction. A study published by CEBR, Intelligent Automation increases topline growth by 5% to 7%.
3. Unleashes Productivity
77% of large enterprises believe AI-infused Automation will deliver productivity benefits. The integration of AI + RPA co-pilots and Intelligent Document Processing in business processes is a game-changer for productivity. This automation optimises workflows, reducing manual errors and boosting productivity. Digital + Human working together can operate at speeds unimaginable only a couple of years ago, processing a marked-change in volumes of data. This enhanced productivity drives businesses forward, propelling them ahead of the competition. By some estimates, organisations with Intelligent Automation increase productivity by 15%
4. Ensures Efficiency and Compliance
Business Process Transformation plays a crucial role in maintaining compliance and cutting costs. Through continuous process mining, optimisation, risk and anomaly monitoring, businesses can ensure adherence to regulatory standards. Additionally, process mining analyses data to identify inefficiencies in current processes, enabling timely corrective actions that remove waste, opportunities for automation and improve overall performance.
5. Informs Decision-making
Intelligent Automation streamlines and scales decision-making across all levels of the organisation with invaluable data-driven insights and recommendations. This empowers businesses to make faster, more informed choices. By staying ahead of market trends and customer demands, businesses can adapt proactively, gaining a competitive edge in their industry.
6. Paving the Way for a Sustainable Future
Intelligent Automation can contribute to sustainability efforts simply by processing data faster from thousands of energy, traceability and sustainability documents. Intelligent Document Processing with RPA can extract, validate and monitor unstructured data for GHG Scope 3 reporting and reduction.
Conclusion
In today's rapidly evolving business landscape, embracing AI automation is no longer optional but essential. It has become a strategic necessity for streamlining operations, driving growth, and preparing for the challenges of tomorrow.
