Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

Automation

AI has been around for several decades but is only now gaining traction. Earlier it lay in a corner of a system with millions of data points, which never reached the employees and systems. RPA acts as a supply chain of AI, so that it can interface with multiple systems, and bi-directionally pull and push, and give business data.

Behind AI is Machine Learning, which is the scientific study of algorithms and statistical models used in computer systems to effectively perform a specific task without using explicit instructions, relying on patterns and inferences instead. RPA is supported by all three technologies. But all three are at different points on the Moore’s Law, and the entire ecosystem will take off when the three cross a point of inflection. It is likely that this will happen in the next few years.

Benefits of Automation

 Automation has become a priority as it allows machines to take over the more mundane and repetitive jobs. So it introduces speed, efficiency, and higher productivity. This will free up the human mind for building strategies, expanding the business, and all this will translate into higher profits.

The Key Elements

 The key elements that are needed to put this in place are the right strategy, right approach, technology, mindset, and execution. The last two, however, can be stumbling blocks, as there is resistance and fear of failing, that slow down the process. The data bot concept will add a layer to all the available technologies, and business processes and take the organization to the next level of humans + machines.

Danger Lurking in the Shadows

The flipside to this is the fear that automation will result in loss of jobs. According to one statistic, the auto industry has seen a 70-75 percent productivity increase in the last six-seven years. However, the service industry has seen a productivity decrease. The reason is that manufacturing, the first industry to use robots, replaced many machines, but the service industry can only replace people.

There is another school of thought that believes that there is a danger that the machines will start performing beyond mundane tasks as they become supremely intelligent. While it is worth bearing in mind the potential for an artificial intelligence system to intentionally or unintentionally cause great harm, in-depth research will help us better prepare for and prevent such potentially negative consequences in the future, thus enjoying the benefits of AI while avoiding pitfalls.

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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