Business Process Automation And Artificial Intelligence Why Neither Can Take a Position Alone
Business process automation (BPA) has been the silent hero of the business world for decades. It's the invisible hand behind those perfectly timed automated emails you receive, the seamless online checkout process, and the powerful management of countless back-office tasks. But what if we told you there's a way to unlock even greater efficiency and productivity from your BPA efforts? Enter Artificial Intelligence (AI).
At its core, AI enhances BPA by bringing intelligence to automated processes. With business process automation, jobs that used toworkflow need human help to make decisions or analyze things can now be done automatically, with great accuracy and speed. For example, Tungsten Automation uses AI to make handling lots of data easier and cheaper by smartly processing documents, showing how AI can change how we work.
Why AI is a game changer for BPA?
Twenty five percent of organizations currently use AI in their process automation, and 53 percent intend to implement it soon. AI is boosting BPA by introducing capabilities far beyond what was previously achievable. Its role in enhancing automation efforts comes with numerous perks, including:
Data-driven decisions
AI algorithms have an insatiable appetite for data. They can analyze vast amounts of information, identify patterns and trends that escape human notice, and uncover hidden insights to inform strategic decision-making. A study by McKinsey found that companies that embrace data-driven decision-making can experience performance improvements of up to 6 percent in profitability and 10 percent in customer satisfaction. You can predict potential bottlenecks in your workflow or personalize marketing campaigns based on real-time customer data – AI's power in BPA.
Cognitive automation
AI systems can learn and adapt like humans. AI algorithms can mimic human capabilities like learning and adapting by automating tasks such as document review for legal compliance or managing nuanced customer service interactions; complex activities once thought beyond the capabilities of automation are now within reach.
For example, AI-powered systems can analyze legal contracts and identify potential risks, freeing lawyers to focus on more strategic legal matters.
Enhanced accuracy and efficiency
Human error is a fact of life, but with AI in the mix, it becomes a much smaller factor. AI can significantly reduce errors caused by manual data entry or human oversight. A comprehensive survey by Capgemini Consulting and Capgemini Business Services, involving over 150 executives across a wide spectrum of company sizes, unveiled a compelling consensus: 86 percent of the respondents believe that Robotic Process Automation (RPA)- a core component of BPA – when combined with AI, significantly contributes to risk reduction and enhanced compliance within their organizations.
What is the role of AI in business process automation?
The impact of AI on BPA is not limited to enhancing existing processes; it's also about reimagining what's possible. Business process automation AI offers unprecedented productivity gains and a significant return on investment.
Industries from finance to healthcare are witnessing a paradigm shift as AI-driven process automation enables them to operate more efficiently and make data-driven decisions. The ability of AI to analyze large datasets and identify trends can lead to more strategic business insights, driving growth and innovation.
Think of AI and BPA as two sides of the same coin. They are most effective when working together. BPA provides the foundation – the pre-defined workflows and processes – while AI injects intelligence and adaptability. Here are some specific use cases that showcase the power of business automation AI:
Streamlining Accounts Payable
By integrating with accounting software and leveraging AI for document processing, the system can automatically extract data from invoices, validate the information, and even route them for approval. Businesses now use automated systems to handle invoices and payments, reducing manual work and errors.
Boosting Marketing ROI
AI-driven marketing campaigns have revolutionized how businesses approach advertising strategies. By leveraging customer data and identifying patterns, AI enables the creation of personalized marketing messages that target the right audience more effectively. As a result, companies can significantly improve their return on investment (ROI) by concentrating their efforts on the most promising leads. For example, AI can analyze customer purchase history and recommend relevant products or services, increasing sales and customer satisfaction.
Enhancing Security and Fraud Detection
Cybersecurity threats are a constant concern for businesses. AI can be a powerful weapon in the fight against fraud. AI algorithms can analyze financial transactions in real-time, identify suspicious activity based on historical patterns, and prevent fraudulent transactions before they occur. Businesses can now protect their revenue and maintain customer trust.
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AI and BPA - A duo for success
While AI undeniably represents a significant leap forward in the evolution of business process automation, its true potential is unlocked when paired with an effective BPA tool.
Kissflow doesn't just automate; it innovates, ensuring businesses keep pace with the digital transformation and lead the charge. By harnessing the power of AI, Kissflow transforms the landscape of BPA, making the promise of smarter, structured, and secure business processes a reality.
AI-suggested fields
Kissflow, with its built-in AI, analyzes your workflow and intelligently suggests relevant fields for your forms and workflows. By intelligently suggesting relevant fields for forms and workflows, such as "Bug Summary" and "Bug Classification," Kissflow significantly reduces the time and effort required to organize workflows. No more endless scrolling through menus – jump into building your automated workflows.
Enhanced data security
Kissflow's AI acts as a shield for your sensitive information. It can identify sensitive fields within your workflows and implement safeguards to prevent unauthorized access. Such advancements protect your confidential information and foster trust with your customers and partners.
Simplified workflow automation
Use Kissflow's AI for your board and workflow setup. Forget painstakingly building everything from scratch. With just a few clicks, you can have a fully functional board with forms and workflows up and running. Kissflow empowers you to build forms and workflows faster, smarter, and more secure.
