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

AI Robot

Today, automation is driving efficiencies for enterprises, resulting in dramatic productivity gains in the back office and enhanced customer experiences in the front office. Software robots that operate as virtual employees are transforming the efficiency of every organizational function from finance, tax, HR, and IT to supply chain, regulatory compliance and customer care, reliably automating manual, repetitive tasks at scale.

When robotic, intelligent and autonomous systems are integrated, the result is intelligent automation, widening the scope of potential tasks and processes that can be automated. This powerful combination brings transformation across the whole spectrum of emerging technologies such as artificial intelligence, blockchain and the internet of things. In the Indian context, Intelligent automation could catapult the Indian economy to a value of US $5 trillion dollars in the next five years, up from $2.7 trillion dollars.

The large-scale adoption of automation technologies, such as RPA, Artificial Intelligence, natural language processing and Machine Learning will drive increased efficiencies and new jobs in the next few years. Automation is driving intrinsic growth in every sector of the Indian economy and is influencing every activity of the workforce by creating higher skilled jobs, resulting in more opportunities for workers and higher economic output.

Banking, insurance and financial services have emerged as key industry adopters of intelligent automation as they experience the benefits of lowering costs of business transactions and providing a differentiated customer experience. Telecom, retail-consumer packaged goods, oil and gas, logistics and transportation organizations have also increased efforts to automate core business functions, driven by mandates to cut costs and improve customer experiences. According to research conducted, public sector and government institutions are deploying automation to enable the digital transformation of citizen touchpoints, which will ultimately reduce paperwork and improve public administration – a key goal in further enhancing economic growth across the country.

Suffice to say that intelligent automation, and RPA in particular, will make businesses more efficient by automating business processes end-to-end, allowing organizations to become true digital enterprises.

 

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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