Talent Augmentation: Through Intelligent Process Automation, Smart Robots Extend the Capabilities and Creativity of Smart Humans
From the man of six million dollars to strangers to Iron Man, pop culture has always adhere to the science fiction motif of robotics by increasing human courage, creativity, determination, decision making, adaptability and the will to succeed. But the counter narrative fictitious also exists in the popular imagination, with humans and robots also represented as fierce opponents, fighting for superiority. In fact, there are strong arguments for both parties. In a study by the Pew Research Center in 2014, technology experts divided on whether robots and a less tangible form of robots (AI) would move more jobs than “they would not create in 2025.1
The truth, as usual, is in the middle. We are now seeing the emergence of a new and significant type of robotics we call Intelligent Process Automation (IPA). IPA enables intelligent machines to extend and extend human unique human capabilities, empathy, creativity, problem solving and motivation, to deliver superior professional results based on artificial intelligence and automatic learning. . Of course, the most common robots are those who make automobiles, unload ships, assemble products or aspire floors. But now we are entering a new era of human-machine interface for repetitive and memory processes. More and more intelligent software tools have emerged as “robots” for knowledge work.
Humans now work smarter with sophisticated software to automate business tasks. More importantly, these process systems generate rich data that provide meaningful insights, value, and business results. And according to our recent research, the IPA contributes at least 10% to the growth of the incomes of the first adopters.2
While virtually all existing business processes use technology, there are still a lot of repetitive crafts, search and collation that happens to accomplish this. Many steps in the process have not been automated by core systems, while others are based on solutions that require workers to switch between multiple systems and screens to integrate data into the last mile. The value of this type of “fundamental” work can be quite limited; If these tasks were automated, costs would decrease, while speed and accuracy would increase. It would also mean that people who are essential to the process could do more in less time.
In addition to raising costs collectively, these non-automated tasks can sometimes create risks. For example, in insurance, the cost of coding wrong claims amounts to millions per year, not to mention the decrease in customer satisfaction as a result of multiple claims. It should not be so difficult; with automation applied, insurers can achieve 80% first-pass accuracy through self-arbitration, and the addition of IPA technologies can increase up to 99% according to our estimate.
These results are welcome. But the true “intelligence” value of digitization through IPA lies in the rich data and metadata that accumulate around the value chains of the process. When real-time information is extracted from these data and re-injected into the process, through analysis, artificial intelligence and automatic learning, real transformation can begin when intelligent people can explore data, discover patterns and recommend actions appropriate. Take the insurer that automates your claims management process and then use the data from your daily audit logs to detect hidden fraud schemes that could never be discovered manually.