March 2022 Edition

 

Click Here to View/Download the Magazine

 

Robotic processes are becoming increasingly helpful to firms trying to save time and be more efficient as there is more data to manage, organise, and make sense of. Not every work need a human to complete, especially when the activities are repetitive and predictable. Here’s where robotic process automation (RPA) comes in, and it’s become a critical part of running a business and serving customers.

A Wide Range of Applications RPA is software that automates rule-based computer tasks including copying and pasting, moving files from one area to another, and so on. RPA software ‘robots’ are designed to automate tedious, boring, and repetitive operations using low-code drag-and-drop software, allowing humans to change from data-gatherers to data-users. RPA can automate a wide range of tasks, including loan application data processing, automatic background checks, and extracting shipment details from incoming emails, also reducing data entry errors, which can affect processing times, compliance, and the overall customer experience.

Tasks like opening accounts and processing mortgage applications can be automated in banking, while health and injury claim and onboarding for new applicants or agents can be automated in insurance. RPA can be used to streamline supply chain and logistics processes in the transportation industry.

The number of options is practically unlimited, and it benefits any organisation that works with manual operations that are hard or tiresome. Robots that look like humans. RPA requires machines to be trained in the same way that people are to do a range of repetitive and predictable jobs. Software robots, like people, can be taught to recognise what’s on a screen, type the correct keystrokes, navigate different systems, identify and extract data, and perform a wide range of defined actions, such as pulling data from a database, entering it into a spreadsheet, and then generating an invoice based on the data.

RPA can gradually replicate human thought and processing capabilities thanks to AI and natural language processing, making it ideal for enterprises that demand a certain level of intelligence in data utilisation and interpretation. At its most basic level, RPA is software that automates business operations by interacting with numerous systems in the same way that a human would, frequently utilising the same desktop interfaces.

RPA is increasingly utilising AI technologies such as natural language processing (NLP) to decipher text and optical character recognition (OCR) to comprehend documents and images. “An example of RPA is what I term a ‘email bot,’ which uses natural language processing (NLP) to understand and extract data from emails, then processes and generates a response automatically. Business Workflows with RPA The way systems “think” about and interpret data is changing as they become more complicated. New and improved ways to leverage RPA’s unique capabilities will emerge as a result of this progress.

Tarun Taunk

Editor In Chief

Leave a Reply