I think, therefore I’m cognitive RPA
Author:Sudhir Sen, Co-Founder of Option3 and Products Head of JiffyRPA
Recently, I was talking to a group of people at one of the industry events in Bengaluru, and I was quite surprised to know that many believe Robotic Process Automation (RPA) is still based on the rules engine and that it needs to come of age. While I do agree that RPA industry is still on the borderline of cutting-edge AI techniques like machine learning, RPA actually hascome of age in the last couple of years with its human-like cognitive capabilities.
Today, it is not just about automating a few processes. It is about automating even the most complex of processes end-to-endwith unparalleled ease, as well as learning from past actions and displaying self-learning capabilities. So, in our own experience of building an RPA product, we made sure it is far beyond any simple, rule-based automation. JiffyRPA is the closest one can get in terms of ease of installation, integration, intelligence and decision-making capabilities.
Firstly, why cognitive RPA?
If you look at how the market segment is panned out today, you will see that large organizations in industry verticals like Retail, Healthcare, BFSI, Manufacturing, Transportation, IT & Telecom, would need automation like never before, simply going by the data explosion and process complexity that we see today.
Cognitive RPA and BFSI
The biggest consumers of RPA today are BFSI applications. This is simply because the industry is highly regulated and there is a dire need for intelligent automation, as fixing the simplest of human or machine errors can turn out to be an expensive affair. This is why cognitive RPA will enhance the accuracy and efficiency of different processes in the BFSI industry especially.
Simple automation of monotonous tasks often eliminates workload and results in enhanced productivity and fuels competitiveness. But that in itself is not enough for large organizations that have complex processes and systems. Banks, for example, where a minor error can lead to a catastrophe. This is where “cognitive RPA” comes into play.
If RPA is a gateway technology, then RPA with cognitive abilities is at the heart of that technology – the robust backbone to digitization. Innovation doesn’t and will not happen by simply integrating RPA with existing IT infrastructure, but what will really add value are bots that can add more decision-making capabilities and augment human productivity.
JiffyRPA: I think, therefore I’m cognitive.
Automation was expected to be the silver bullet to the widespread operational complexities of the business world, but this was never going to be the case unless automation could evolve beyond what it could merely achieve – the basics. Most automation solutions were approached from a short-term solution angle, a somewhat tactical necessity. In doing so, they were failing to leverage the actual improvements to be brought about from a big picture perspective. And in understanding this, our approach towards intelligent automation was born – Automate, Analyze, Accelerate.
Option3 time and again proved to our customers how limiting it would be to view RPAas a tactical tool, when it could be a real strategic asset. JiffyRPA’s cognitive capabilities, for instance, allowed our customers to get more out of automation with very little effort.
With self-learning, cognitive bots that could apply machine learning and artificial intelligence along with natural language processing, automating complicated processes (that were previously considered too ineffective to be automated) became a real possibility.
Capturing unstructured data, cultivating a deeper understanding of processes, and taking human-like decisions was no longer robotic science fiction but hard-core fact.
Customers now had the leeway to reduce the manual intervention that came out of rule-based automation — where each change or exception in a process required human effort to fix issues or train the bot.
The need to draw elaborate, custom frameworks based on industry, domain or vertical was also eliminated through domain-specific packages. JiffyRPA can be readily leveraged across several domains — Finance and Accounting, Human Resources, IT Services, Business Process Management and more.
More so, enterprises could easily implement a continuous automation framework with the advancedprocess automation, reporting and analytics capabilities that JiffyRPA provided. The Jiffy analytics engine calls out bottlenecks in the process and highlights opportunities that could enhance the outcome of automation. This meant customers could react faster to opportunities and scale operations as required – all while keeping maintenance costs to a minimum.
In such a demanding environment, automation needs to be able to set the pace at which it seamlessly fits into a business—right from reducing turn-around-times and increasing productivity, to becoming a strategic value-add by complementing your business objectives. This is where JiffyRPA’s cognitive automation works — and amazingly well at that.