In the fast-paced world of technology, staying ahead is not just an advantage – it’s a necessity. Technological innovation continues to redefine the way we conduct business, and it’s easy to be swept up in the ways that AI can transform many aspects of our business lives. A proven technology that is sometimes overlooked and can be combined with generative AI to significantly impact process improvement is Robotic Process Automation (RPA).
As IT and business leaders, it’s time to pay close attention to AI and RPA to understand its potential impact on processes. Here, we’ll explore what RPA is, its applications, benefits, potential pitfalls, and why we at TruPoint Communications believe you should care about staying on top of this technological wave.
What is Robotic Processing Automation
RPA is a form of business process automation that allows individuals and companies to define a set of instructions for a robot or ‘bot’ to perform. These RPA bots are designed to mimic human-computer interactions, executing many error-free tasks at high volume and speed.
RPA uses intelligent virtual agents (IVAs) to handle basic and time-consuming tasks. The versatility of RPA lies in its ability to automate routine and rule-based processes, freeing up human resources for more strategic and creative thinking.
According to Enterprisers Project, there are four basic check-offs when determining possible RPA Fits:
- The process needs to be rule-based.
- The process must be repeated at regular intervals or have a pre-defined trigger.
- The process must have defined inputs and outputs.
- The task should have sufficient volume.
The most prevalent use of RPA programs lies in supporting repetitive functions or date-intensive processes where the outcomes are based on logical reasoning.
AI vs. Machine Learning or RPA
It’s important to distinguish between Artificial Intelligence (AI) and Machine Learning (ML) or RPA. While these terms are closely connected, they are not interchangeable.
AI encompasses the broader umbrella concept of machines performing tasks that typically require human intelligence, whereas RPA focuses on automating repetitive and rule-based processes. One of the distinguishing factors is that RPA doesn’t learn as it goes like other AI technologies.
In comparing RPA and AI, it is evident that RPA is a valuable tool for streamlining routine, rule-based tasks, improving productivity, and allowing employees to focus on higher-level projects that require critical thinking and creativity. The synergy between RPA and AI can create a powerful combination where the strengths of each technology complement each other.
Benefits of RPA
Implementing RPA can bring about a myriad of benefits for businesses. Improved productivity is a key advantage, as RPA enables the swift completion of repetitive tasks without errors. It helps to maintain best practices and provide consistent service delivery to customers.
RPA also improves employee satisfaction. According to an Automation Anywhere study, on average 40% of employee’s time is wasted on repetitive tasks. By automating mundane processes, employees can redirect their efforts toward strategic initiatives that contribute to overall business growth.
Enhancing customer service is another notable advantage of RPA, especially considering that Americans are willing to pay 17% more to do business with companies with excellent customer service reputations. In fact, 90% of Americans rank customer service as an important factor in determining whether or not they want to be associated with a company at all.
With the ability to handle high-volume tasks efficiently, businesses can provide faster response times to customer queries and streamline customer interactions. This not only involves customer satisfaction but also strengthens the brand’s reputation in a competitive market.
Pitfalls of Using RPA
While RPA offers significant advantages, being aware of potential pitfalls is essential. Businesses should exercise caution in relying solely on automation, recognizing that certain processes still require human oversight. Over-reliance on RPA without a human touch can lead to unintended errors, especially in situations that involve complex decision-making or unpredictable variables.
Furthermore, the initial investment and implementation of RPA may pose challenges for some organizations. It is crucial to carefully assess the costs and benefits to ensure a successful and sustainable integration of RPA into existing workflows.
Unlocking Success with TruPoint
Optimization is the theme for 2024 and AI is a broad concept that has many layers. Businesses of all sizes need to determine how to incorporate AI, RPA, and other technologies to streamline processes.
Organizations of all sizes should care about staying in the loop with RPA because it represents a strategic opportunity to enhance efficiency, productivity, employee satisfaction, and customer service – even for organizations as small as 10 or 15 employees. Embracing RPA, especially when integrated with generated AI, is not just about keeping up; it’s about leading the way into a future where automation and human ingenuity work hand in hand to drive success.
At TruPoint Communications, we’re ready to guide you in evaluating RPA, generative AI, and even custom software solutions to align with the unique needs of your organization. Our team is dedicated to ensuring that you not only embrace the transformative potential of these technologies, but also harness it to propel your organization forward.