Intelligent Automation Trends that will Drive the Future of Business
Trends in Intelligent Automation for 2021
February 2, 2021
Businesses everywhere are always looking for the tools and services that will set them apart from the competition. For many intelligent automation is the next big step in making business simpler and more profitable.
What is Intelligent Automation?
Intelligent automation is the integration of software robotics, artificial intelligence (AI), robotic process automation (RPA), and other technologies to automate business processes. The defining feature of Intelligent Automation in comparison to things like robotic processing is that intelligent automation deploys AI to learn on its own. As a result, the technology improves without needing to be updated manually. The goal of intelligent automation is to leverage emerging technologies to make business simpler and more efficient.
Automation is already more common than you think. Often AI manifests in something as easy to take for granted as your spam filter which learns to recognize unwanted emails by the way you interact with them. When intelligent automation is at play it generally makes things so simple for the end-user that they aren’t even aware of its impact. Here are a few examples of intelligent automation that you may encounter in your day-to-day business practices:
Voice to Text and Translation Features – The idea of a universal translator is no longer a sci-fi trope. Indeed, most smartphones today have the ability to rapidly translate written and spoken content almost instantly. The algorithms that enable this service are always learning, meaning that the quality of the transition improves with each version update.
Personalized Shopping Recommendations – Ever notice that even when you’re just thinking about buying something you tend to get personalized ads featuring the item? Predictive analytics in marketing has become so advanced that sometimes they can forecast what you plan to buy before it even crosses your mind.
Pattern and Image Recognition – Does your phone have the ability to automatically sort photos into albums based on who is in them? If so that’s AI at work. Similarly, have you ever had the Maps app suggest the quickest route home when you hop into your car at the end of the workday without prompting? Again, this is a subtle application of AI designed to make your life easier.
In a post-pandemic world, businesses are looking for ways to automate to keep their operations running smoothly. Whether it’s automating parts of the hiring process within HR, customer support, or state-of-the-art security surveillance, software automation has the power to produce rich data and accurate results across a wide range of industries. Here are some emerging intelligent automation trends that are changing the landscape of business:
Banking & Financial –
AI has powerful applications within the banking and finance industry. In addition to predictive analytics for investment decisions, it is often applied to the underwriting process. AI tools can be used to determine the risk and potential return on loans. Intelligent automation solutions take it a step further and combine AI platforms like these with workflow automation to help simplify many processes. It is implemented to make call centers smarter, help customers make good financial choices, expedite document custody procedures, and simplify typically lengthy processes like refinancing a loan. The takeaway here is that it’s no longer just about automating rote tasks with RPA, it’s about applying automation to more complex and variable processes that previously required human intelligence.
Few industries stand to benefit from intelligent automation as much as the healthcare sector. In a field where lives are literally on the line, agile automation can help lessen the burden on frontline healthcare workers by handling patient screening, patient monitoring, reporting, or tracking and analyzing the results in clinical trials. Currently, intelligent automation is being leveraged to track virus outbreaks and future predict hotspots for COVID-19. Narrow AI can also be trained to look at diagnostic imaging and screen for anything from fractures and tumors to subtle malformations and predictive markers for disease. There is no question the AI will improve the accuracy of diagnostics in the coming years but it’s making a major impact right now by helping to streamline the patient experience and simplify the daily workflow for doctors, nurses, administrators, and other medical staff.
The complexities of building automated processes often deter businesses from implementing intelligent automation workflows and tools. However, the benefits far outweigh the challenges of implementation. Intelligent automation can deliver returns in both saved time and resources while also improving your bottom line.
How does DOMA use Intelligent Automation?
DOMA is ready to help you implement intelligent automation tools and modernize your business. Digital transformation is a journey, not a destination, and we can meet you where you are with the next steps that can make your business run more smoothly. Whether you’re at the start of the process and need digitization or you’re looking to implement the latest and greatest that AI has to offer, we are excited to get you moving on the right path.
About DOMA- Powered by Tech, Driven by People
DOMA Technologies (DOMA) is a software development and digital transformation company whose mission is to change customer lives by lightening their workload through faster and more targeted access to their data. Since 2000, our team of 200+ experts has helped businesses navigate all aspects of the digital world. We are a dedicated strategic partner for the federal government and private sector clients at every stage of their unique digital transformation journey.
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