How AI Can Drive Business Growth By Accelerating Process Automation

Seventy nine percent of business and IT leaders expect to see efficiency gains of at least 25% from the fusion of AI and process automation, according to a recent survey conducted by my company.

 

Copyright: forbes.com – “How AI Can Drive Business Growth By Accelerating Process Automation”

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That’s huge, especially in terms of what that means for enterprise growth and cost optimization. But what shape will these new gains in efficiency and productivity take? According to the survey of those business leaders:

• 53% anticipate better use of employee time

• 51% plan to benefit from a competitive advantage

• 50% expect to improve operational efficiency

• 59% anticipate better decision making

It’s clear that business leaders see the business benefits of applying AI to process automation. And while these individual anticipated benefits are good news for business operations, it’s also critical to consider what they mean for business strategy. The picture becomes clearer when we sort these benefits into three primary categories: process optimization; faster access to data; and improved user experiences.

Building Optimized Processes, Faster

Artificial intelligence (AI) makes it possible for teams to build the best version of any process in a matter of seconds. These new processes are constructed by AI from inputs and requirements defined by the user. These inputs can then be supplemented with data from existing processes. AI then takes this information and transforms it into a structured, efficient process.

For example, let’s say the IT team gets a request to build an approval process for the procurement team. Users can tell the AI what phases or activities need to occur, who needs to be involved and what kinds of rules apply to the new process. AI then takes these parameters and constructs an optimized process that can be implemented as-is or fine-tuned as needed.

This reduces the burden of manually building processes from scratch, which can reduce the burden on teams who manage many different processes that may change often as business strategies or internal requirements evolve.[…]

Read more: www.forbes.com

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