What is Intelligent Automation in Business?

In any business operation, some tasks require human effort. On a smaller scale, some of these tasks can be done without affecting the demand and supply dynamics of the business. However, when businesses grow and demand increases, there is a need to either augment these tasks or automate them completely to meet the demand. At the same time, the business workflows need an automation process that is accurate and can handle these tasks with minimal human intervention. This is where intelligent automation in business comes in!

The idea of intelligent automation in business is still new to many industries and sectors, despite its being applicable to every industry.

In this article, we see what intelligent automation is all about and how it fits into the overall business model to enable business owners to serve their customers.

Let’s get started!

What is intelligent automation in business?

Automation in business simply refers to the use of technology, or software, to perform daily business tasks that would otherwise require extensive human effort. These tasks are different between industries, even those within the same niche. They range from simple tasks like data entry to complex ones like scheduling and reporting. However, the main goal for automation in business is to save time, reduce costs, and improve efficiency.

Although when you make the automation intelligent, it is a different ball game entirely.

Intelligent automation takes automation a step higher. The basic principle of an intelligent automated system is based on automated systems.

Intelligent automation brings together 3 technologies; AI, machine learning, and robotic process automation. This blend creates a technology that enables the business to complete complex tasks that need a high level of intelligence, such as decision-making, pattern recognition, and so on. Therefore, intelligent automation in business uses tools and software that mimic human intelligence in decision-making, while keeping the speed, scalability, and accuracy of machines.

Importance of intelligent automation in business

In our modern world, intelligent automation has become a need and not just merely a want. Here are key reasons why intelligent automation is necessary for businesses:

Improved speed and efficiency

Intelligent automation greatly improves the speed and efficiency of carrying out activities in a business operation. Tasks that took up to two hours will now take an hour or less. This way, employees have more time to focus on other activities. The intelligent nature of this automation gives it the ability to fully function without human supervision. Thereby, creating an independent working process that is highly reliable.

Increased accuracy

Any production or manufacturing process always has room for ‘the human factor’. This is where small mistakes are taken into consideration because humans are bound to make mistakes, especially when performing repetitive work. However, this is not the case with intelligent automation. These systems are primed to perform tasks with a higher accuracy than humans. Also, humans can easily spot mistakes, where present, with this technology.

In industries such as finance and healthcare, where the smallest mistakes can lead to great loss, intelligent automation reduces the chances of this happening. Therefore, these processes become more reliable.

Cost reduction

Studies have shown that 80% of manufacturing defects come from human errors. The cost of fixing these defects is enormous. Every year, companies lose billions of dollars to the economic impact of human errors.

However, when these errors are reduced significantly through automation, losses are reduced. Over time, there is a significant return on investment, especially in large companies.

Scalability

The growth of a business signifies an increase in data, costs, management, and so on. However, keeping all of this growth at the same level is difficult manually. With automation, on the other hand, scalability does not have to be a problem. Intelligent automation readily adapts to the level of growth of a company. It upscales continuously as the company grows, eliminating the bottlenecks that come with manual processes.

Improved decision-making making

Intelligent automation provides you with unsentimental and factual data that shows the current condition of your company. It also does this at a much faster rate, because it can collect, process, and analyze large volumes of data in seconds. This allows business owners to make decisions that are backed by data and facts. This leads to improved decision-making and future predictions, fewer losses, and stronger business intelligence.

Competitive advantage

There are hundreds or even thousands of people already in your industry, producing what you produce and offering the same type of service you offer. In the competitive marketplace, it may not be easy to stand out. However, intelligent automation allows business owners to own their own spotlight. With increased efficiency, faster operations, and more reliable customers, businesses always have a competitive advantage over others.

How can automation be applied in a business?

Manufacturing and assembly line

Intelligent machines can begin a manufacturing and assembly process from the beginning to the end. Automotive industries like Tesla are already using AI technologies for their manufacturing processes.

Supply chain and inventory management

Intelligent automation can optimize deliveries, track inventories, and make a demand projection for businesses to plan accordingly. Giants like Amazon and Walmart have already entered this space and are using AI for demand forecasting and optimization.

Recruitment automation

Parsing hundreds of applications for the right applicant can easily lead to fatigue. Intelligent automation does this in seconds. Already, ATS systems are popular within the HR space. The only problem with these systems is the bias that exists in some. Read more.

Marketing automation

Digital marketing strategies are more effective with automation. This can come as intelligent automation of strategies like sending email campaigns, identifying potential clients, real-time website personalization, and social media scheduling.

Customers service

Studies show that industries with good customer service reported a 41% increase in revenue within a short period of time in comparison to those with poor customer service. Intelligent automation in business takes customer service from zero to a hundred. It personalizes queries with clients, provides very fast responses, and clear instructions.

Conclusion

Intelligent automation must be a priority for new and existing businesses to stay ahead of their competitors. The world has become fast-paced due to digitalization, and many people are still struggling to keep up. Strategies such as intelligent automation have helped many businesses thrive despite the constant changes.

Therefore, intelligent automation in your company should be part of your growth strategies in the long and short term. As the digital economy is evolving, secure your position in it with automation.

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